11 October 2024
According to the data released by the Central Bank of Myanmar(CBM) on October 10th (yesterday), an additional 12.481 million US dollars and 38.737 million Thai baht were sold, making the total sales over 342 million US dollars in two and a half months.
After the CBM announced it would provide 100 million US dollars to fuel importers, starting from August 15th, large amounts of US dollars were sold. Including the latest sales, the CBM has sold over $342 million between August 1st and October 10th, two and a half months.
During this period, the CBM also sold Thai baht and Chinese yuan, essential for exporters and importers. On October 7th, 10 million Thai baht were sold, and with this latest sale of over 38 million Thai baht, a total of over 368 million Thai baht has been sold. Additionally, around 31 million Chinese yuan have also been sold.
Due to the continuous sale of foreign currencies, the exchange rate for the US dollar, which had risen to over 7,000 kyats, fell below 5,000 kyats for the second time starting from September 27th and dropped to as low as 4,550 kyats per dollar. Although the dollar exchange rate has risen again recently, it was recorded at 4,620 kyats per dollar today, marking about two weeks during which the exchange rate has remained below 5,000 kyats per dollar.
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