Myanmar : CBM sells over US$1.6M to edible oil importers on 7 Aug
In early August, the Central Bank of Myanmar sold millions in foreign currency to edible and fuel oil importers, alongside yuan and baht injections, aiming to stabilize the forex market and curb currency devaluation. The CBM continues active interventions, following earlier large-scale sales in June and July.
The Central Bank of Myanmar (CBM) sold over US$1.665 million to edible oil-importing companies after injecting over 56,000 yuan into the market on 7 August.
CBM also sold over $1.2 million into edible oil-importing companies and $590,000 to fuel oil-importing companies on 6 August after selling over 1.46 million yuan and 1.05 million baht into the financial market on that day.
CBM injected over 1.4 million yuan and one million baht into the financial market on 6 August after selling over $1.2 million into the edible oil-importing companies and over $590,500 to fuel oil-importing companies on that day.
CBM announced on 5 August that it would pump $30 million into the fuel oil sector.
CBM sold over $1.86 million purchased from CMP companies to edible oil importing companies, in addition to an injection of 1.38 million yuan into the market on the same day.
CBM announced on 4 August that it would sell 10 million yuan and 50 million baht to importers.
CBM also sold over $1.08 million to edible oil-importing companies and $620,200 to fuel oil-importing companies on that day.
CBM also pumped over $1.04 million into edible oil-importing companies and over $434,400 to fuel oil-importing companies on 1 August.
CBM sold $36.5 million purchased from companies working on a Cut, Make and Pack basis, in addition to the injection of $8.8 million, 13.3 million baht, 10.5 million yuan and 500,000 rupees in July. Furthermore, CBM sold over $2.3 million to other commodities-importing companies as per its initial announcement of selling $10 million.
CBM sold $8.4 million, 13.9 million baht and 5.2 million yuan in June 2025, in addition to an injection of $14.9 million that was purchased from the CMP enterprises into the financial market.
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
