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.