Their cash registers are ringing non-stop as Malaysians flock to buy long-held stocks of foreign currency to prepare for future travels while others want to buy foreign currency as a form of hedging.
The Australian dollar, he said, went from RM3.02 to RM3.14 recently, driving buyers to ask for it, while currencies from Europe are also drawing much attention. He predicted that medical tourism, particularly from Indonesians who have waited so long to seek treatment in Malaysia, will be the prime mover of the retail scene of Malaysia’s foreign exchange trade.
“Many people are now selling the US dollar, Singapore dollar, as well as Australian dollar due to the good exchange rate,” said Ridzwan.
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