CBM sells eight million US dollar, 200 million Thai Baht on 19 Feb

photo 2024 02 19 04 07 50 1

The Central Bank of Myanmar (CBM) sold eight million US Dollar and 200 million Thai Baht on 19 February again.
The CBM injected over US$59.38 million and 650 million Thai Baht into the financial market in the past 20 days. The CBM pumped in $13 million on 1 February in the financial market, five million dollars and 50 million Thai Baht on an online trading platform for the exporters/importers on 2 February, $11 million and 200 million Thai Baht on 5 February, eight million dollars on 8 February, $5.38 million on 14 February and nine million dollars and 200 million Thai Baht on 15 February. The CBM sold $68.33 million, 313.5 million Thai Baht and 4.2 million Chinese Yuan in January 2024.
The reference exchange rate set by the CBM is K2,100 against a US dollar, while it was valued at approximately K3,570 at the over-the-counter market. The exchange rates stand at K100 per Thai Baht and K490 per Chinese Yuan at present. The 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

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