Quote:
Originally Posted by euphoria777
Companies have cash, just that the bank are not willing to TT out funds in USD.
Reason being the govt has artificially imposed an exchange rate and if the banks use that rate to sell USD, they are losing big time.
So quite a number of banks has temporary stop TT services in foreign currency.
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Its a form of capital control in the guise of an adjustment in the official rate, they are reluctant to impose drastic measures like those which Malaysia did in the past to discourage money outflow from the country, because in doing so they may discourage potential FDI
Cheerios.....SS08 ^_^