CBM sells US$1.28M to edible oil importers

THE Central Bank of Myan­mar (CBM) sold over US$1.28 million, purchased from CMP companies, to edible oil-im­porting companies on 1 De­cember.

 

CBM made an injection of over $21 million, 2.4 million yuan and 1.5 million baht in November.

 

CBM sold over $2.2 million to edible oil-importing com­panies again on 28 November after sales of $1.3 million on 27 November.

 

Furthermore, CBM in­jected $2.3 million purchased from CMP companies into the edible oil import sector on 26 November.

 

CBM announced on 25 November that it would sell $28 million to fuel oil-import­ing companies. CBM also sold $1.46 million to edible oil-im­porting companies and over $545,000 to fuel oil-importing companies on that day.

 

CBM sold $761,460, pur­chased from CMP companies, to edible oil-importing compa­nies on 24 November, in addi­tion to the injection of 415,800 yuan into the market.

 

CBM sold over $583,600 to edible oil-importing companies on 20 November.

 

CBM injected over $2.48 million, 5.75 million yuan and 4.98 million baht in October, along with sales of over $54 million purchased from CMP companies.

 

CBM aims to curb the instability in the foreign ex­change market and curren­cy devaluation. According to CBM’s notification on 15 March 2024, it has been col­laborating with law enforce­ment agencies to combat and prosecute those who attempt to manipulate the currency market under the existing laws. CBM allowed authorized dealers (private banks) to op­erate online foreign exchange trading freely as per the mar­ket rate, depending on supply and demand, starting from 5 December 2023. — NN/KK