CBM to inject US$81M to fuel oil businesses

THE Central Bank of Myanmar (CBM) announced on 20 May that it would sell US$81 million to fuel oil businesses.

CBM injected over $2.067 million into edible oil-importing companies and $4,000 to CMP companies, in addition to $22,984 worth of non-trade transactions.

CBM pumped over $1.45 million into edible oil importing companies and over $518,800 to CMP companies, along with $350,366 worth of non-trade transactions on 19 May.

CBM sold over $2.34 million to edible oil-importing compa­nies and over $30,170 to CMP companies on 18 May.

CBM sold over $1.8 million to edible oil importing companies and $5,000 to companies working on a Cut, Make and Pack basis on 15 May.

CBM sold over $3.26 million to edible oil-importing compa­nies, over $10,470 to CMP com­panies and $2 million to LNG-im­porting companies on 14 May.

 

CBM sold $1.8 million to edible oil-importing companies and $137,260 to CMP companies on 13 May.

CBM over $2.037 million to edible oil-importing companies and $11,535 to CMP companies on 12 May.

CBM injected foreign cur­rencies into the market, with a view to curbing 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