CBM sells 7M Chinese yuan, 12M Thai baht for exporters on 5 March

The Central Bank of Myanmar (CBM) sold seven million Chinese yuan and 12 million Thai baht on 5 March for exporters on online trading platforms.
It injected US$10 million and 200 million Thai baht into the financial market on 4 March.
CBM also sold $77.38 million and 850 million Thai baht in February and $68.33 million, 313.5 million Thai baht and 4.2 million Chinese yuan in January 2024.
The exchange rate for Thai baht, Chinese yuan and US dollar settled in those transactions is not revealed.
The reference exchange rate set by CBM is K2,100 against a US dollar, while it is valued at some K3,610 at the over-the-counter market at present. The exchange rates currently stand at K101 for a Thai baht and K492 for a Chinese yuan.
CBM allowed the authorized dealers (private banks) to operate online forex trading freely as per the market rate depending on supply and demand, starting from 5 December.
Additionally, the outward remittance procedures must adhere to the rules and regulations specified by the Foreign Exchange Supervisory Committee. — NN/EM