27 December 2024
The Central Bank of Myanmar(CBM) released a statement on December 26 (yesterday) revealing that it had sold an additional 4.725 million baht and 500,000 yuan to importers.
Including this additional sale, on December 24, the CBM sold approximately 90,000 baht and 330,000 yuan. Therefore, during the three weeks from December 2 to 26, CBM injected 320.539 million baht and 10.934 million yuan, along with over 139 million US dollars, online through forex trading platforms.
Moreover, the CBM sold 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 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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