14 October 2022
Seven private banks sold US$-6.7 million at a price of Ks-2870 per dollar to fuel oil import companies on 13 October.
The private banks are KBZ Bank, Ayeyarwady Bank, Myanma Apex Bank, CB Bank, Yoma Bank, Farmers Development Bank and Global Treasure Bank.
The sale of US dollar is possibly to stabilize the exchange rate that becomes to stable in the external market under the guidance of the government. And the price of fuel oil can probably drop in the future, market exchange rate experts said.
“I think the sale is happened by the directive of the government. In so doing, it can be said that the potetial surging of the prices of currency and fuel oil can be controlled as the prices are becoming stable in external market,” an entrepreneurs who based in Yangon said.
Currently, the exchange rate that sharply rose within past two months stood under Ks-3000 per dollar. In addition, the fuel oil price stood around Ks-2000 per litre and has a potential to continue to drop, he added.
The price of fuel oil was Ks-1990 per litre for 92 Ron, Ks-2055 per litre for 95 Ron, Ks-2655 per litre for disel and Ks-2740 per litre for premium disel on 13 October.
