Many said the depreciation would make exports more competitive but it’s not the same scenario for all industries, she said.
“The impact is not identical for different industries and exporters understood the exchange rate game thus knowing when to factor things,” she said at a media appreciation lunch here today.
She said for the electrical and electronics industry where the sourcing of inputs and export were done in US dollar its impact would be minimal.
“If we are talking about resource-based industry like palm oil that we grow and produce from within, we get receipts in ringgit when we export.
“If you have a non-resource-based industry, which depends highly on imported inputs and intermediates, these industries will be affected,” she said.
— BERNAMA
