CBM to sell eight million US dollar, 200 million Thai Baht on 26 Feb 

The Central Bank of Myanmar (CBM) decided to sell eight million US dollars and 200 million Thai Baht on 26 February.
The CBM pumped 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, nine million dollars and 200 million Thai Baht on 15 February and eight million dollars and 200 million Thai Baht on 19 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 is valued at some K3,610 at the over-the-counter market at present. The exchange rates currently stand at K101 per Thai Baht and K500 per Chinese Yuan.
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