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

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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

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