CBM sells US$5.4M to fertilizer, edible oil, and pharmaceutical importers on 3 July

Various medications seen being displayed at a pharmacy outlet.

The Central Bank of Myanmar (CBM) sold US$5.4 million to those importing edible oil, fertilizer, pharmaceuticals, and medical devices on online trading platforms on 3 July.
CBM sold $5 million for exporters and importers on 2 July and injected $5 million and 40 million Thai baht in June and $10 million, 30 million baht and 22.5 million yuan into markets in May through online trading platforms.
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 the foreign exchange market and stopping the currency devaluation.
According to 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. — NN/KK

Share this post
Hot News
Hot News
Waso robes donated to venerable Sayadaws to mark first anniversary of consecration for Maravijaya Buddha Image
Pagodas in and around Mandalay flocked with people doing good deeds on Waso Full Moon Day
Nay Pyi Taw pagodas overflow with worshippers on Dhammacakka Day
Dengue cases drop nearly 80% year-on-year
Pagodas, including Shwedagon, overflow with pilgrims on Waso Full Moon Day
Security forces combat PDFs, take security and regional control measures in Singu
UEC delegation departs for China
Myanmar, Cambodia strengthen ties for religious and cultural cooperation
Myanmar pulse exports exceed 740,000 tonnes, worth US$642M by 12 July
China leads Myanmar’s rice imports with 91,000 tonnes in Q1