Bank Negara announces further relaxation of forex policy

The central bank will be lifting the export conversion rule, which will allow resident exporters to manage their own export conversions according to their foreign exchange cash flow needs. Secondly, exports will be allowed to settle domestic trade in foreign currency with other resident corporates operating in the global supply chain.

KUALA LUMPUR: Bank Negara has announced five new measures to further liberalise the foreign exchange policy (FEP) to allow greater flexibility for businesses and to foster a conducive environment in attracting foreign direct investment (FDI) to Malaysia.

The central bank will be lifting the export conversion rule, which will allow resident exporters to manage their own export conversions according to their foreign exchange cash flow needs.