The Central Bank of Myanmar (CBM) has announced that it is taking action to combat speculation in the gold and foreign exchange markets. Based on gathered information, the CBM is investigating individuals spreading rumors and manipulating prices.

Instead of reacting to rumors, the CBM is prioritizing evidence-based solutions. They are identifying and investigating those who exploit the market based on concrete information. Further measures will be announced to address the situation.

The CBM announced that it is committed to stabilizing the foreign exchange rate and discouraging speculation. And its ongoing measures include facilitating legal foreign currency transactions for legitimate purposes (imports, exports, medical needs, education, pilgrimages, and employment) through the FX Market Online Trading Platform and publicly announcing official exchange rates through the CBM website and Facebook page.

The CBM is also cracking down on spreading rumors about fluctuating gold prices and foreign exchange rates, causing public panic and Illegal foreign currency trading without proper authorization.

The CBM urges the public to be wary of misinformation and rely on official information from government departments and authorized money changers and always consult official data to stay informed about accurate exchange rates and gold prices.