CBM injects US$5M, 7.5M yuan, 30M baht on online trading platforms

The Central Bank of Myanmar (CBM) sold US$5 million, 7.5 million yuan and 30 million Thai baht for exporters and importers through online trading platforms in the half of this month.
CBM injected $3 million, two million yuan and 54 million baht into the financial market in April.
It also sold $18 million, 12 million yuan and 312 million baht in March, $77.38 million and 850 million baht in February and $68.33 million, 313.5 million baht and 4.2 million yuan in January 2024, with a view to curbing the instability in forex market and stopping the currency devaluation.
In line with CBM’s notification on 15 March, it has been joining hands 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.
Additionally, outward remittance procedures must adhere to the rules and regulations stipulated by the Foreign Exchange Supervisory Committee. — NN/KK

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