30 October 2024
According to the Central Bank of Myanmar(CBM), it sold 5 million yuan and 25 million Thai baht on 28 October, followed by 20 million USD, over one million yuan, and 18 million baht on the same day.
CBM also sold over 76 million USD, 86 million baht, and 4.8 million yuan in September and over 190 million USD, 19 million yuan, and 79 million baht in August.
The CBM aims to reduce volatility in the foreign exchange market and prevent currency devaluation. In a notification issued on March 15, the CBM stated that it has been collaborating with law enforcement agencies to take action against individuals attempting to manipulate the currency market by existing laws. Starting December 5, 2023, the CBM permitted authorized dealers, including private banks, to conduct online foreign exchange trading freely per the market rate, depending on supply and demand.
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