8 February 2024
The Central Bank of Myanmar announced that the Dollar, Thai Baht, and Chinese yuan are being sold to the foreign currency market to facilitate import activities and today bank again sold another 8 million dollars, bringing the total sales to nearly 99 million dollars in more than a month. Currently, only two months left before the end of the fiscal year, so to get the expected trade volumes needed by force. Exports are planned to be exported more than before. It is the open season, and it is the period when more domestically needed imports are being imported.
Therefore, the purchase of dollars in the local foreign exchange market increased in January, so the price of the dollar, which was less than 3,500 kyats per dollar, rose to more than 3,500 kyats per dollar on January 24th and reached 3,560 kyats per dollar on January 31st. At the beginning of January, due to the continuous issuance and sale of foreign currencies by the Central Bank, the price of the dollar fell a little, and today it fell back to 3,500 kyats per dollar.
