Blog: BNM sees concerning trend of increasing foreign currency holdings among Malaysian companies

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2 comment(s). Last comment by speakup 2024-03-21 07:58

arv18

2,662 posts

Posted by arv18 > 2024-03-21 00:19 | Report Abuse

That is a natural and logical reaction to a collapsing ringgit. Good business sense. It also means your you reduce your ringgit cost base (salaries especially). Fantastic.

Clearly the govt knows this is also loves the depreciating MYR as it reduces ringgit denominated civil service emoluments and pensions. This is how Malaysia plans on solving the revenue gap without increasing the tax base.

speakup

27,195 posts

Posted by speakup > 2024-03-21 07:58 | Report Abuse

why should companies hold Ringgit which is turning in to toilet paper?

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