Adequate Common Foreign Currencies To Meet Demand, Says Money Services Association

KUALA LUMPUR, Nov 14 (Bernama) -- The Malaysian Association of Money Services Business (MAMSB) Monday assured that there is adequate supply of common foreign currencies in the market to meet current demand. While assuring that the association was closely monitoring the situation in the local currency exchange market, it said licenced money changers and currency wholesalers in Malaysia would take necessary steps to respond to consumers' needs. "The exchange rates quoted for physical foreign currencies, sold by licenced money changers, always reflect the demand and supply conditions in the retail market," it said in a statement. MAMSB said the rates were determined by market forces that depended on various factors including cost of sourcing for currencies, operations costs and demand for currencies. Anyone facing difficulty in exchanging foreign currencies can contact the association at (006) 03-7722 5808 or e-mail "admin@mamsb.org.my". -- BERNAMA