CBM sells 5M yuan, 30M Thai baht on 2 May

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Central Bank of Myanmar, Nay Pyi Taw.

The Central Bank of Myanmar (CBM) will sell five million yuan and 30 million Thai baht for importers and exporters through online trading platforms on 2 May 2024.
CBM injected US$3 million, two million yuan and 54 million Thai baht into the financial market in April. It also sold $18 million, 12 million yuan and 312 million Thai baht in March, $77.38 million and 850 million Thai baht in February and $68.33 million, 313.5 million Thai baht and 4.2 million yuan in January 2024.
The reference exchange rate set by CBM is K2,100 against a US dollar, while it peaked at some K3,970 at the over-the-counter market at present. The exchange rates currently stand at K106 for a Thai baht and K538 for a yuan.
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, the outward remittance procedures must adhere to the rules and regulations specified by the Foreign Exchange Supervisory Committee. — NN/EM

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