Thailand
Myanmar: Central Bank Sells Out $3 Million
Central Bank of Myanmar, which has been purchasing US dollar earlier this year, sold $3 million on December 14 at the rate of K1,372.2 per dollar.
On the same day, dollar was traded around K1,365-1,370 in the domestic market.
Myanmar Kyat against US dollar has been strong since the begining of 2020 and the Central Bank of Myanmar has been purchasing dollars trough auctions. It bought $44.2 million in September alone and $43 million in October.
The Central Bank has said that the purchase of the dollar is not to bring up the dollar rate but to stabilize the currency market.
Written by Ko Myo
Source: https://mmbiztoday.com/central-bank-sells-out-3-million/