CBM to sell over US$1.9M to edible oil, CMP companies

THE Central Bank of Myan­mar (CBM) sold US$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 also sold $2.17 mil­lion to edible oil-importing companies and over $150 to CMP companies on 11 May. Additionally, CBM sold $1.3 million to edible oil-importing companies and over $334,400 to CMP companies on 8 May.

Next, CBM sold over $1.337 million to edible oil-im­porting companies, over $10,490 to CMP companies and $1 million to LNG-importing companies on 7 May.

CBM injected forex 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