The Central Bank of Myanmar (CBM) sold a total of 14 million baht to the export and import businesses via an online trading platform yesterday.
Likewise, the CBM has also sold US$3 million, 2 million yuan and 40 million baht to the export and import businesses on 3 April.
The statistics show that the CBM injected a total of US$18 million, 12 million yuan and 312 million baht into the foreign exchange market in March; US$77.38 million and 850 million baht in February; and US$68.33 million, 313.5 million baht and 4.2 million yuan in January.
As a matter of fact, the Central Bank relaxed the foreign exchange market and floated on 5 December 2023 without setting the rate. Still, it was determined by the supply and demand in the market, which allows authorized dealers to exchange currencies as per the market rate. In addition, transferring foreign currencies abroad shall abide by the rules and regulations set by the Foreign Exchange Supervisory Committee. At present, the foreign exchange rate set by the CBM is K2,100 for a dollar while it is K3,900 for a dollar, K104 for a baht and K522 for a yuan in the market. — NN/TMT
