CBM sells 3.21M Thai baht on 27 Nov
The Central Bank of Myanmar (CBM) sold 3.21 million Thai baht on 27 November.
It injected over 1.79 million yuan on 26 November after the sales of 17.8 million baht and US$25,000 into the financial market on 22 November.
It sold 50 million baht to importers through the foreign exchange trading platform on 21 November.
CBM sold over $3,900 on 21 November, $24 million on 20 November, $20 million and 100 million baht on 19 November, and over $12,000 on 18 November.
CBM announced the sale of $35 million to fuel oil importers on 16 November.
CBM injected $400,000 into the financial market on 14 November. On 12 November, it sold 14.5 million baht after announcing it would sell 15 million baht to importers on 11 November.
It sold over 800,000 yuan on 11 November, over 2.17 million yuan and $3,000 again on 8 November after sales of over 2.1 million baht, two million yuan and over $3,300 on 7 November and about $9,000, 490,000 yuan and 1.2 million baht on 6 November.
Its announcement on 5 November read that it would sell seven million yuan and 20 million baht to importers on foreign exchange trading platforms. On 4 November, CBM sold $15 million, 1.5 million yuan, and 100.8 million baht.
In October 2024, CBM injected over $91 million, over 9.8 million yuan, and over 610 million baht into the financial market.
CBM aims to curb the instability in the foreign exchange market and the currency devaluation. According to CBM’s notification on 15 March, it has been joining hands 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
