CBM to sell 10M yuan to importers

The Central Bank of Myanmar (CBM) announced on 29 November the sale of 10 million yuan to importers.
CBM sold 16.54 million baht on 29 November, 4.97 million baht on 28 November and 3.21 million baht on 27 November.
It injected over 1.79 million yuan on 26 November after sales of 17.8 million baht and $25,000 on 22 November into the financial market.
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 on 16 November the sale of $35 million to fuel oil importers on 16 November.
CBM injected $400,000 into the financial market on 14 November. It sold 14.5 million baht on 12 November, after selling 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.
It announced on 5 November the sale of seven million yuan and 20 million baht to importers on foreign exchange trading platforms. CBM sold $15 million, 1.5 million yuan and 100.8 million baht on 4 November.
CBM injected over $91 million, over 9.8 million yuan and over 610 million baht into the financial market in October 2024.
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