(Aug 17): Malaysia's central bank said on Friday exporters will no longer be obligated to convert most of their proceeds into ringgit, relaxing a rule introduced in 2016 to boost onshore trading of the currency.

Bank Negara Malaysia also said it will allow companies more flexibility for hedging of foreign currency obligations and allow non-resident corporations to trade in ringgit-denominated interest rate derivatives.

Governor Nor Shamsiah Mohd Yunus said the measures were an effort to give "greater flexibility" amid volatile markets.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook