Central Bank of Myanmar (CBM) has no plan to change the reference exchange rate and it will maintain USD liquidity and Kyat Liquidity through market operations, according to the CBM’s notification released on May 26.
To stabilize and enhance the FX market, the CBM has been providing liquidity through local banks. It helps reduce the need for US dollar liquidity and Kyat liquidity for the businesspersons and stabilize the exchange rate, the statement mentioned.
CBM also warned the people of spreading malicious rumours regarding the FX market. Investigation and prosecution of market manipulators who try to hike the exchange rate by disseminating false information will be undertaken under existing laws. General public can tip off on the manipulators and their operations via CBM’s email: gov.office@cbm.gov. mm.
