The Central Bank of Myanmar (CBM) sold over US$1.5 million to edible oil-importing companies and over $3,520 CMP companies on 27 May, along with over $ 214,000 worth of non-trade transactions.
CBM continued to sell over $707,000 to edible oil-importing companies and $32,700 to CMP companies on 26 May.
CBM sold over $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 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