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Finance Ministry; Malaysia seeks wider use of local currencies in cross-border trade through BRICS cooperation

KUALA LUMPUR, Nov 4 — Malaysia aims to enhance the use of local currencies in cross-border trade and investment transactions through BRICS cooperation, thereby reducing...

Malay MailMalay Mail2026-11-04 10:42查看原文 ↗

Malaysia aims to increase the utilization of local currencies in international trade and investment through cooperation with BRICS to reduce transaction costs and mitigate foreign exchange risks.

According to the Ministry of Finance, this strategy will bolster financial resilience, enhance liquidity, and support regional foreign exchange market development.

Malaysia is actively engaging in initiatives with major partners, including frameworks with China, Indonesia, and Thailand, to facilitate local currency transactions.

However, the broader use of local currencies remains influenced by market dynamics and necessitates robust cross-border payment systems and international collaboration.

KUALA LUMPUR, Nov 4 — Malaysia aims to enhance the use of local currencies in cross-border trade and investment transactions through BRICS cooperation, thereby reducing transaction costs and foreign exchange risks.

The Ministry of Finance (MOF) said the move also aims to strengthen the country’s financial resilience against external shocks while providing businesses with more options for conducting international transactions.

It said wider use of local currencies could improve the efficiency of foreign exchange exposure management and support the development of regional foreign exchange markets.

“An increase in transactions using regional currencies, including those of BRICS member countries, could also enhance liquidity and support the development of regional foreign exchange markets, thereby providing businesses with more options,” the ministry stated to the Dewan Rakyat.

MoF was responding to Tan Sri Abdul Hadi Awang (PN-Marang) on reforms to the international financial system that Malaysia is pursuing through BRICS.

The ministry said Malaysia had also implemented various initiatives with major trading partners, including cooperation with China to facilitate the use of the renminbi and ringgit in bilateral trade.

Malaysia has also implemented the Local Currency Transaction Framework (LCTF) with Indonesia and Thailand.

The ministry said Malaysia would continue to strengthen and improve existing channels and mechanisms to facilitate and expand the use of local currencies in cross-border trade and investment.

However, it noted that the use of major currencies in international trade and finance remained driven by structural factors, including the size of financial markets and their widespread acceptance among businesses and investors.

“Therefore, efforts to expand the use of local currencies must be market-driven, supported by efficient cross-border payment infrastructure and continuous cooperation between countries,” MOF added. — Bernama

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马来西亚希望通过与金砖国家合作，提高本币在国际贸易和投资中的使用率，以降低交易成本并减轻外汇风险。

据财政部称，该战略将增强金融韧性，提高流动性，并支持区域外汇市场发展。

马来西亚正积极与主要合作伙伴开展合作，包括与中国、印度尼西亚和泰国等国建立合作框架，以促进本币交易。

然而，地方货币的更广泛使用仍然受到市场动态的影响，并且需要健全的跨境支付系统和国际合作。

吉隆坡，11月4日讯——马来西亚希望通过金砖国家合作，加强跨境贸易和投资交易中本币的使用，从而降低交易成本和外汇风险。

财政部表示，此举旨在增强国家抵御外部冲击的金融韧性，同时为企业提供更多开展国际交易的选择。

报告称，更广泛地使用本币可以提高外汇风险敞口管理的效率，并支持区域外汇市场的发展。

该部向国会下议院表示：“增加使用区域货币（包括金砖国家货币）进行的交易，也可以增强流动性，支持区域外汇市场的发展，从而为企业提供更多选择。”

财政部回应了丹斯里阿卜杜勒·哈迪·阿旺（国民联盟-马兰）关于马来西亚正通过金砖国家推进国际金融体系改革的质询。