Myanmar : CBM to inject US$33M into fuel oil sector
Myanmar’s Central Bank injected \$33 million into the fuel oil sector on July 1 to stabilize the currency. In late June, CBM sold millions of dollars and foreign currencies to edible oil and commodity importers. Sourced largely from CMP companies, these measures aim to curb exchange rate volatility and support essential imports amid economic instability.
The Central Bank of Myanmar (CBM) announced on 1 July that it would pump US$33 million into the fuel oil sector. CBM sold over $1.15 million that purchased from CMP companies to edible oil-importing companies.
CBM sold 643,634.29 to commodities-importing companies and $377.362.5 to edible oil companies on 30 June after injecting 500,000 baht into the market.
CBM $500,000 to commodities-importing companies on 27 June, in addition to a 400,000-yuan injection into the market and $845,000 purchased from CMP companies into the edible oil industry.
CBM sold $1 million to commodities-importing companies after the injection of 160,000 yuan into the market on 26 June. Furthermore, CBM sold $400,000 to edible oil-importing companies.
CBM made $1.479 million injection from foreign currencies purchased from the CMP businesses into the edible oil-importing sector on 25 June.
CBM sold over 700,000 yuan on 24 June. Furthermore, CBM sold $870,000, which was purchased from the CMP companies, to edible oil-importing companies on that day.
CBM announced on 23 June to pump $30 million into the fuel oil sector. CBM sold $464,500 to edible oil-importing companies and over $496,000 to commodities-importing companies on that day after the injection of over 16,540 yuan into the market.
CBM sold over $600,000 and 387,000 yuan on 20 June. Furthermore, it sold $800,000 to edible oil-importing companies and over $503,000 from its designated injection to commodities-importing companies.
CBM pumped over $577,000 out of its designated $10 million injection to commodities-importing companies on 19 June.
Moreover, CBM sold $1.524 million from the companies working on a Cut-Make and Pack basis to edible oil-importing companies on the same day.
CBM sold over $1 million out of the designated $10 million injection to commodities-importing companies on 18 June 2025. Furthermore, CBM also sold $1.68 million from CMP companies to edible oil importing companies on that day.
CBM aims to curb the instability in the foreign exchange market and currency devaluation. According to CBM’s notification on 15 March, it has been collaborating 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.
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Source : GNLM
