CBM allows importers to make advance payments for imported goods

The Central Bank of Myanmar (CBM) has announced that importers will be permitted to make advance payments for imported goods, according to a statement issued on November 13.

The CBM said it has been selling foreign currencies to importers through Authorized Dealer (AD) banks via the FX Market Online Trading Platform to facilitate imports of essential commodities, including fuel, edible oil, fertilizers and other goods.

From April 2026 to November 13, 2026, approximately US$2.3264 billion, 1.9443 billion Chinese yuan, 7.1144 billion Thai baht and 87.8 million Indian rupees were sold to importers through the platform and AD-licensed banks.

The CBM also reported that it had directly sold approximately US$1.7648 billion to support imports of fuel, edible oil, fertilizers and other commodities.

The decision to allow advance payments aims to ensure timely access to foreign currency for importers, reduce payment delays to overseas suppliers, prioritize foreign currency allocation for genuine trade-related activities and maintain stability in the foreign exchange market without creating additional pressure on exchange rates.

In addition, the CBM has extended the period during which exporters can retain the portion of their export earnings permitted for their own use in foreign currency bank accounts from 30 days to 45 days.

The extension is intended to provide exporters with sufficient time to apply for import licences and make overseas payments, facilitate foreign currency transactions for imports and exports, and promote the development of the trade sector.