The Central Bank of Myanmar has been conducting significant foreign exchange interventions, selling millions of US dollars to edible oil importers in recent days. These actions, which included sales of over 500,000 dollars on a single day, are part of a broader strategy to stabilize the national currency and control market volatility. The bank also announced substantial injections of foreign currency into the fuel oil sector.
Throughout October, the bank injected over 2.48 million dollars and other foreign currencies into the market. Its objective is to counter instability and prevent currency devaluation. The Central Bank has stated it is collaborating with law enforcement to take legal action against any attempts to manipulate the currency market. Since late the previous year, it has permitted authorized private banks to conduct online foreign exchange trading at market-driven rates.
Throughout October, the bank injected over 2.48 million dollars and other foreign currencies into the market. Its objective is to counter instability and prevent currency devaluation. The Central Bank has stated it is collaborating with law enforcement to take legal action against any attempts to manipulate the currency market. Since late the previous year, it has permitted authorized private banks to conduct online foreign exchange trading at market-driven rates.
