CBM sells US$780,000+, 1.2M yuan, 1M Thai baht on 3 October
The Central Bank of Myanmar (CBM) sold over US$780,000, 1.2 million yuan and one million Thai baht on 3 October.
CBM pumped over 1.2 million yuan and 10.2 million baht on 2 October.
CBM also injected over $76 million, 86 million baht and 4.8 million yuan into financial markets in September.
Moreover, CBM sold over $190 million, 19 million yuan and 79 million baht in August.
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
