Bank Negara refines foreign exchange policy to improve business efficiency | Malay Mail

Thursday, 30 Apr 2020 06:25 PM MYTKUALA LUMPUR, April 30 — Bank Negara Malaysia has announced a further refinement in the foreign exchange policy aimed at improving business efficiency and providing flexibility for corporates to better manage their foreign exchange risk exposure.The first refinement in policy is an exemption from the requirement for resident exporters to convert export proceeds below RM200,000 per transaction into ringgit.

The second measure is that residents are free to hedge foreign currency loan obligations up to the underlying tenure. The third refinement in the policy is residents and non-residents need to seek the Bank’s approval to unwind hedging positions while those registered under the corporate hedging framework can unwind their positions in line with their underlying business needs.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Deutsche Bank posts Q1 loss as virus bites | Malay MailFRANKFURT, April 29 — Deutsche Bank today posted a €43 million (US$46 million) loss in the first quarter despite a strong performance from its investment unit as Germany’s biggest lender grapples with a major revamp and the coronavirus fallout. The net loss attributable to shareholders...
Source: malaymail - 🏆 1. / 86 Read more »