The Central Bank of Myanmar (CBM) announced on October 8 that it would sell an additional US$30 million to fuel oil sectors through the foreign exchange market.
This follows earlier sales of US$25 million on October 2 and US$30 million on September 3 to the same sector.
According to the CBM, the bank sold a total of US$126 million to fuel operators in August — US$30 million on August 5, US$32 million each on August 13, 20, and 26.
In July, the CBM had sold US$153 million, with sales of US$33 million on July 1, US$30 million on July 8, US$33 million on July 15, US$27 million on July 22, and US$30 million on July 28. The series of foreign currency sales aims to stabilize fuel prices and support market demand.
