The Central Bank of Myanmar (CBM) has announced that it has sold US$8 million in foreign currency market on February 8.

On February 6, CBM also announced that it has sold eleven million dollars and 200 million Thai baht in the foreign currency market.

It has sold five million dollars and 50 million Thai baht to exporters and importers in the foreign currency market through the online trading platform announced the Central Bank of Myanmar (CBM).

On February 1, CBM sold another US$ 13 million. On January 29, CBM again sold US$ 9 million, it reported.

On January 25, CBM sold US$ 9 million and 200 million Thai baht in the foreign currency market, on January 26, US$ 5 million and 50 million Thai baht according to CBM.

On January 19, CBM announced that it sold 50 million Thai baht. On January 15, CBM sold US$ 15 million in the foreign currency market.

On January 5, CBM sold another US$ 16 million.

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

The CBM sold 9.72 million dollars for companies that import fuel on December 18, 2023. The CBM announced that it sold 12.43 million dollars on December 21.

The CBM plays a key role in the implementation of monetary policy to achieve and maintain domestic price stability, and exchange rate stability plays a key role in determining and implementing foreign exchange rate policy according to Article 40(b), (c) and (d) of the Central Bank of Myanmar Law by advising the government regarding the foreign exchange rate system, maintaining and managing the state's foreign reserves.

The online trading platform was established under the leadership of the CBM due to the request from the importers that they don’t know about the rise in currency exchange rates and not knowing the amount they can sell in the market, and in order to balance the demand and supply of foreign money in the economic system. According to the needs of the market, the CBM sold US dollar, Thai Baht and Chinese Yuan from June 22, 2023.