Myanmar : CBM injects US dollars to edible oil, fuel oil sectors
The Central Bank of Myanmar (CBM) sold over $2.36 million to edible oil importers and $320,700 to fuel oil firms on July 23. Continuing its intervention strategy, CBM injected foreign currencies throughout July to stabilize exchange rates and curb volatility in the forex market.
The Central Bank of Myanmar (CBM) sold over US$2.36 million to edible oil-importing companies and $320,700 to fuel oil-importing companies on 23 July 2025.
CBM announced on 22 July that it would sell $27 million to those engaged in the fuel oil industry and 130 million baht to importers. CBM injected $660,000 and 474,900 yuan on 22 July into the financial market after sales of over $3 million to edible oil importing companies .
CBM sold over $1.75 million each into edible oil-importing companies and fuel oil-importing companies on 21 July again, after injection of over 9.36 million baht to construction companies and over 337,800 yuan and 500,000 Indian rupees to the financial market on that day.
CBM pumped over $3 million and 700,000 yuan into the financial market on 18 July after selling $1.1 million to edible oil-importing companies.
CBM sold over $1.5 million to edible oil-importing companies on 17 July, in addition to an injection of over 756,260 yuan and 2,000 baht into the financial market.
CBM sold $1.2 million, which were purchased from companies working on a Cut-Make and Pack basis, to edible oil companies on 16 July.
CBM announced on 15 July that it would pump $33 million into the fuel oil industry. In addition to injecting over 324,360 yuan into the financial market, CBM sold over $771,290 million to the 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 2024, 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
