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 was decided on by 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.