CBM warns of action against unlicensed foreign currency trading

The Central Bank of Myanmar (CBM) has warned that individuals and organizations involved in buying, selling or exchanging foreign currencies without an official licence, or failing to comply with officially prescribed exchange rates, will face legal action.

In a statement issued on November 5, the CBM said that US dollars, Chinese yuan, Thai baht and Indian rupees are being sold to importers through authorised dealer (AD) banks on the Foreign Exchange (FX) Online Trading Platform to meet the country's daily import requirements. Exchange rate information is also published daily on the CBM's website and in state-owned newspapers.

From April 2026 to November 5, approximately US$2.2212 billion, 1.9071 billion Chinese yuan, 6.7128 billion Thai baht and 74.5 million Indian rupees were sold to importers through the FX Online Trading Platform and AD-licensed banks.

The CBM also reported that it had sold approximately US$1.703 billion to support imports of fuel, edible oil, fertilisers and other essential commodities.

The central bank said official foreign exchange rates are announced daily on its website and instructed money changers, as well as banks and their customers, to conduct foreign currency transactions in accordance with the exchange rates prescribed by the CBM.

It further warned that individuals and organisations found trading or exchanging foreign currencies without a valid licence issued by the CBM, or conducting transactions at rates that differ from the officially prescribed rates, would face effective legal action.

The CBM said such activities, particularly those deliberately intended to undermine exchange rate stability, would be dealt with under the Financial Institutions Law, the Foreign Exchange Management Law and other applicable legislation.