CBM Governor recommends online trading approach for gold bars

14/08/2023 13:45

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NP News – Aug 14

The Governor of the Central Bank of Myanmar (CBM) Than Than Swe told that trading gold bars should be conducted through online approach. She addressed it during the meeting of Monitoring and Steering Committee on Gold and Currency Market that was held in Naypyidaw on August 12.

As a matter of fact, USD trading between Authorized Dealer Banks and customers has been conducted via online trading led by the CBM since 22nd June. The CBM supports necessary tools for balancing demand and supply in the online trading program.

The Governor recommended that trading gold bars should also be conducted via online for more effectiveness. However, she also highlighted that those who hold the certificates should be allowed in the online trading program so that the market stability, price and criteria will be maintained stable.

Domestic gold price has been increasing from 1,800,000 MMK in February 2021 to 3,500,000 MMK at the time being.