9 August 2025
The Central Bank of Myanmar(CBM) sold over USD 1.665 million to edible oil-importing companies after injecting over 56,000 yuan into the market on 7 August.
CBM sold USD 36.5 million purchased from companies working on a Cut, Make and Pack basis, in addition to the injection of USD 8.8 million, 13.3 million baht, 10.5 million yuan and 500,000 rupees in July. Furthermore, CBM sold over USD 2.3 million to other commodities-importing companies as per its initial announcement of selling USD 10 million.
CBM aims to curb 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 authorised dealers (private banks) to operate online foreign exchange trading freely at market rates, depending on supply and demand, starting from 5 December 2023.
#CBM #edible_oil_importers #USD #Myanmar #mtnews
