26 December 2024
The Central Bank of Myanmar (CBM) sold over 320,000 yuan and 900,000 baht on 24 December. Therefore, from December 2 to December 24, CBM injected over $174 million, over 11 million yuan, and over 355 million baht online through forex trading platforms.
CBM pumped over $59 million, over 280 million baht, and 8.78 million yuan into the financial market in November and over $91 million, over 610 million baht, and 9.8 million yuan in October.
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 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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