THE Central Bank of Myanmar (CBM) announced on 24 March that it would inject $35 million into the fuel oil sector and 10 million yuan to import industry.
It sold over 166,880 yuan on 21 March, over 777,000 yuan on 20 March, $300,000 and 1.12 million yuan on 19 March, and $33 million on 18 March after it announced on 17 March to inject them into the fuel oil sector.
CBM sold $33.5 million and over 156 million baht on 11 March after it announced on 10 March to inject them into the fuel oil sector.
CBM pumped $197,032.72 on 10 March, $335,000 and 1.98 million baht on 7 March, and over $130,000 on 6 March into the financial market. CBM announced on 5 March that it would sell 50 million baht to importers soon. Later, it sold over eight million baht on that day.
CBM announced the sale of $23 million and 150 million baht on 3 March for fuel oil importers. It injected that amount of foreign currencies into the fuel oil sector on 4 March. It sold $550,000, 400,000 yuan and 638,550 baht on 3 March.
CBM pumped over $88 million, 7.5 million yuan and 161 million baht in February and over $124 million, over 13.8 million baht and over 4.8 million yuan in January. 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 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
