CBM sells 50M Thai baht in foreign reserves

The Central Bank of Myanmar (CBM) sold 50 million Thai baht on 19 January.
The CBM also sold almost US$44 million this month, with $12.93 million on 1 January, $16 million on 5 January and $15 million on 15 January 2024.
Additionally, the CBM injected US$22.15 million into the fuel oil sector last year, selling $9.72 million on 18 December 2023 and $12.43 million on 21 December for fuel oil importing companies.
Nonetheless, the CBM did not reveal the exchange rate in selling dollars and baht. At present, the CBM set the reference exchange rate at K2,100 against a US dollar. The Kyat-US dollar exchange rate is K3,450 at the over-the-counter-market.
On 5 December 2023, the CBM allowed authorized dealers (private banks) to operate forex exchanges freely as per the market rate determined by the market force of the supply and demand.
Additionally, the CBM notified that outward remittance must strictly adhere to the rules and regulations of the Foreign Exchange Management Committee. — NN/EM