The Central Bank of Myanmar (CBM) has been selling dollars to the foreign currency market to stabilize the kyat, which has been depreciating against the greenback since November 2023.

The bank sold $9 million and 200 million Thai baht in the foreign currency market on January 25, and $5 million and 50 million baht more on January 26. It also sold 50 million Thai baht in the foreign currency market on January 19, and $15 million on January 15. On January 5, it sold an additional $16 million in the foreign currency market.

On January 1, 2024, the CBM sold $12.93 million in the foreign currency market and provided a SWAP facility to the Chinese yuan equivalent to four million dollars.

On December 18, 2023, the CBM sold $9.72 million for companies that import fuel. It also announced that $12.43 million was sold on December 21.

According to the Ministry of Energy, fuel oil from Thilawa Port is being distributed to states and regions using an online permit system.