On September 4, the Central Bank of Myanmar (CBM) sold $12.4 million and 80 million baht, with the exchange rate set at 3502 kyats per dollar. This transaction is part of a broader effort by the CBM to manage the foreign exchange market.
Earlier, on August 14, the CBM had announced its plan to inject $100 million into the foreign currency market, primarily targeting oil companies. Subsequent sales included over $9 million on August 15 at a rate of 3400 kyats per dollar, followed by nearly $90 million on August 19 at 3410 kyats per dollar, and $31 million on August 22 at 3440 kyats per dollar.
Additionally, on August 26, the CBM sold more than $35 million at a rate of 3460 kyats per dollar and $16.9 million on August 28 at 3472 kyats per dollar. The Central Bank had also previously sold $6 million, ¥5 million, and ฿10 million through the FX Trading Platform in the week of August 9, targeting essential imports such as fuel and edible oil.
In an earlier move on August 2, the CBM sold $5 million and ¥5 million through the FX Trading Platform to support critical sectors including fuel, edible oil, and pharmaceuticals.
