To help with a surge in basic commodity prices driven by high fuel prices the junta government will raise more than $200 million through the sale of foreign currency, according to a statement by the Central Bank of Myanmar late on Wednesday.

This is the first sale of US dollars in nearly six months by the junta. The six-member Foreign Exchange Supervisory Committee came up with the decision after the monetary authority’s meeting with local banks and fuel oil importers last week, according to a report in Bloomberg.

According to a UN World Food Program report the cost of a basic food basket in Myanmar is now 34 per cent higher than it was in July last year. Fuel prices are also considerably higher than a year ago.