THE Central Bank of Myanmar (CBM) sold over 3.6 million baht on 9 May again in the financial market after over 5.3 million baht and 723,000 yuan on 8 May, and US$710,000 on 7 May.

CBM announced on 6 May that it would sell $33 million and 200 million baht to those engaged in the fuel oil indus­try. CBM sold 397,843 yuan on that day.

CBM injected over $42 million, over 20 million baht and 500,000 yuan in April, over $126 million, 320 million baht and 3.6 million yuan in March, 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 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