CBM injects US$13.1M, 288,000 yuan into financial market on 4 October
The Central Bank of Myanmar (CBM) pumped over US$13.1 million and 288,000 yuan on 4 October, $780,000, 1.2 million yuan and one million Thai baht on 3 October and over 1.2 million yuan and 10.2 million baht into the financial market 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 has allowed authorized dealers (private banks) to operate online foreign exchange trading freely as per the market rate depending on supply and demand since 5 December 2023. — NN/KK
