CBM continues injecting dollars to import sector
THE Central Bank of Myanmar (CBM) sold
over US$836,800 to edible oil-importing companies and over $14,700 to CMP
companies on 30 June.
CBM injected $287,300 to edible
oil-importing companies and $122,000 to CMP companies on 29 June, over $379,500
to edible oil-importing companies and $952 to CMP companies on 25 June.
CBM pumped over $909,000 on 24 June and
$2.59 million to edible oil-importing companies on 23 June.
CBM sold $890,500 to edible oil-importing
companies and over $130,000 to CMP companies on 22 June, over $2.88 million to
edible oil-importing companies and $84,000 to CMP companies on 19 June, over
$26,000 to CMP companies on 18 June, $1.13 to edible oil-importing companies
and over $170,000 to CMP companies on 17 June, over $24,600 to CMP companies
on 16 June and $3.37 million to edible oil-importing companies and over $6,300
to CMP companies on 15 June, along with over $10,200 worth of non-trade
transactions.
CBM has been injecting US dollars to
the edible oil-importing companies, with $1.62 million on 12 June, $286,000
on 11 June, $1.38 million on10 June, $2.6 million on 9 June, $3.6 million on 8
June, over $2.9 million on 4 June, over $2.89 million on 3 June, $1.79 million
on 2 June and over $646,800 on 1 June, respectively.
CBM injects foreign currencies into the
foreign exchange market and the edible oil and fuel oil import sector, with a
view to curbing the instability in the foreign exchange market and currency devaluation
and maintaining market stability. 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
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