Malaysia using more yuan and ringgit for trade, BNM says

Central bank says the use of dollars for settlement has remained stable over last 14 years

Bank Negara Malaysia

A growing share of Malaysia’s trade settlements are being carried out in domestic or Chinese currency rather than US dollars, the country’s central bank said. 

In 2023, 82.1% of Malaysia’s total trade was settled in dollars, an article in the latest annual report for Bank Negara Malaysia (BNM) found. This was about the same as the figure of 82.9% in 2009, according to the report, released on March 20.

Over the past two decades, the BNM has been pushing for a greater use of currencies other than

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