PETALING JAYA – The Malaysian Rubber Glove Manufacturers Association (Margma) is remaining down from its demand to be exempted from Bank Negara Malaysia's (BNM) control for exporters to change over 75% of their fare income to ringgit taking after concessions by the national bank.
Elastic glove producers are happy with BNM's turn to settle that day remote trade (forex) rate on banks, when they change over their fare profit to ringgit and re-change over it to the US dollars.
"That is as of now bravo. For the occasion, we can live with it," Margma president Denis Low Jau Foo told SunBiz in a meeting.
He said as opposed to converting 75% of their fare income to ringgit, the exporters are currently permitted to change over the majority of their outside profit to ringgit, and reconvert it back to the US dollar, utilizing that day forex rate.
"Be that as it may, we should use it inside six months," Low included.
Not long ago, Bank Negara reported that exporters could just hold up to 25% of their fare continues in outside cash, while the rest of be changed over into ringgit, to support the liquidity of the nearby coin.
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