KUALA LUMPUR, June 28 ― The Malaysian Association of Money Services Business (MAMSB) assured Malaysians today that there was sufficient supply of Britain’s pound in the market, amid reports of the currency running out after the UK voted to exit the European Union (EU).
MAMSB said licensed money changers and wholesale currency businesses in Malaysia will continue monitoring the situation closely, after the British currency fell yesterday below Friday’s 31-year low of US$1.3224 (RM5.42) , trading at around US$1.320 at 12.10am London time yesterday, according to US business news site CNBC.
“The public is advised that the exchange rates quoted for foreign currencies sold by licensed money changers in Malaysia are determined by market forces which depend on factors such as the cost of sourcing for currencies, operations costs and demand for currencies.
“In view of this, currency exchange rates offered amongst licensed money changers may vary and consumers are advised to shop around for competitive rates,” said MAMSB in a statement.
The Malay Mail reported that money changers around the Klang Valley ran out of euros and pound sterling yesterday, as Malaysians planned to take advantage of the weaker currencies with some planning holidays to the UK and Europe while others wanted to invest for sale later.
