Legal Action to be taken against Market Manipulators of Gold Price and Currency

Governor of Central Bank of Myanmar (CBM) Daw Than Than Swe met the Chairman, Vice-Chairman, and members of Monitoring and Steering Committee on Gold and Currency Market at the CBM in Nay Pyi Taw on 6 March, and discussed with them as follows:

• As the CBM puts emphasis on ensuring the systematic trading in gold market, setting the gold standard and reference prices, and developing gold trade market legally in the country, effective legal actions will be taken against those who manipulate the gold price and currency.
• It is required to continue to implement the provisions in the law if the gold will be identified as essential good and service.
• Members are also required to review current activities and supervisions, and systematically maintain it.

Afterward, the CBM Governor, deputy ministers and directors-general discussed about the plans that should be carried out regarding the Essential Supplies and Services Law and effective legal action to be taken against illegal gold traders aiming to ensure the gold market stability.

The meeting was attended by the deputy minister for Home Affairs, deputy minister for Commerce and CBM deputy governor and directors-general from the relevant departments.       

 Source: MWD (7-3-2024)

• As the CBM puts emphasis on ensuring the systematic trading in gold market, setting the gold standard and reference prices, and developing gold trade market legally in the country, effective legal actions will be taken against those who manipulate the market of gold price and currency.