Seizing Opportunities: BNM Maintains OPR, SMEs Can Still Benefit From Forex Perspective
In a recent announcement, Bank Negara Malaysia (BNM) has decided to maintain the Overnight Policy Rate (OPR) at its current level on 9th May 2024. While this decision may seem like a routine adjustment, it presents unique opportunities for SMEs to leverage from a forex perspective.
With the OPR remaining unchanged, it signals stability in the Malaysian financial landscape. This stability can translate into more predictable currency exchange rates, providing SMEs with a window of opportunity to strategically manage their forex transactions. Monitoring currency movements and executing transactions during periods of favourable rates can help minimize costs and maximize returns.
Another method which you can use to send money overseas is to use a cash transfer service. This is the most convenient method if your recipient does not own a bank account. In fact, you yourself need not own a bank account to be able to send money through this method. MoneyGram and Western Union are some popular examples that facilitate cash transfers. In order to send money to your recipient overseas, just visit your local branch to pay for your transfer and your recipient will be able to pick up their cash at their nearest location in a matter of minutes.
The instantaneous nature of the transfer, however, does come with a high cost. Transaction fees can vary significantly depending on the country you are sending money to, and exchange rates are usually marked up significantly from the mid-market rate as well.
Transact with Sunway Money today and unlock additional RM50 cost savings on your 1st international transactions. Sunway Money, a wholly owned subsidiary of Sunway Group – your trusted partner in navigating the complexities of international money transfer with ease.
1. Drop your contact by clicking the referral link.
2. Sunway Money team will reach out to you for account opening.
3. Use Promo Code: SUNWAY50 and transact a minimum of RM5,000.
For further details and inquiries, please contact Sunway Money Customer Support at business@sunwaymoney.com or via WhatsApp at +6011-272 54895.
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Sunway Money’s transaction service offers you a quick, affordable, and easy way to send money overseas.
