The Central Bank of Myanmar (CBM) sold over US$3.03 million to edible oil-importing companies, $2.5 million to LNG-importing companies and $34,474 million to CMP companies on 25 May, in addition to $4,930 worth of non-trade transactions.
CBM injected $1.9 million, purchased from companies working on a Cut, Make and Pack basis, into edible oil importing companies on 22 May.
CBM sold over $2.33 million to edible oil-importing companies, $1.5 million to LNG companies and $16,603 to CMP companies on 21 May. Furthermore, CBM also made over $353,000 worth of non-trade transactions on the same day.
CBM announced on 20 May that it would sell $81 million to fuel oil businesses. CBM injected over $2.067 million into edible oil-importing companies and $4,000 to CMP companies on that day, in addition to $22,984 worth of non-trade transactions.
CBM pumped over $1.45 million into edible oil-importing companies and over $518,800 to CMP companies, along with $518,830 worth of non-trade transactions on 19 May.
CBM sold over $2.34 million to edible oil-importing companies and over $30,170 to CMP companies on 18 May.
CBM injected foreign currencies into the market, with a view to curbing the instability in the foreign exchange market and currency devaluation. According to CBM’s notification on 15 March 2024, it has been collaborating 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.
NN/KK
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