7 November 2024
According to the Myanmar Central Bank (CBM), it sold seven million yuan and 20 million baht on exchange trading platforms on 5 November. It also sold US$15 million, 1.5 million yuan and 100.8 million baht on 4 November.
CBM sold over US$91 million, over 9.8 million yuan and over 610 million baht into the financial market in October 2024. CBM also sold over US$76 million, 86 million baht and 4.8 million yuan in September. Moreover, CBM sold over US$190 million, 19 million yuan and 79 million baht in August.
CBM aims to curb the instability in the foreign exchange market and the currency devaluation. According to CBM’s notification on 15 March, it has been joining hands 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.
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