18 July 2025
The Central Bank of Myanmar (CBM) sold US$1.2 million that was purchased from companies working on a Cut-Make-and-Pack basis to edible oil companies on 16 July.
CBM aims to stabilise the foreign exchange market and prevent 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 authorised dealers (private banks) to operate online foreign exchange trading freely, at market rates, depending on supply and demand, starting from December 5, 2023.
#edible_oil_companies #US_dollar #CBM #Myanmar #mtnews
