FLUCTUATING MALAYSIAN RINGGIT CHALLENGES LOCAL EXPORTERS IN GLOBAL MARKET CHALLENGES
September 23rd, 2024
The shifts and volatility of the Malaysian Ringgit (MYR) against USD dollar has remained an important challenge for the Malaysian Textile Manufacturers Association and its clothing and textile manufacturing members.
Between July and September this year, the USD1/Ringgit fluctuated significantly, underpinned by both global and domestic factors, with the MYR/USD1 rate moving between July and early August between MYR4.55 and MYR4.69, making profit margin assessments a challenge for imported inputs and overseas sales.
However, in late August and September, the ...
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