Money changers feel brunt of pandemic


Ravin Palanisamy

The tourism-dependent money-changing sector has suffered a 90% drop in business since the MCO was imposed on March 18. Operators are looking at a possible recovery next year. – The Malaysian Insight file pic, August 3, 2020.

WITH no incoming foreign tourists and few Malaysians travelling abroad due to the Covid-19 pandemic, the currency exchange sector is surviving on remittance services, said operators.

Highly dependent on tourism, the sector has seen a 90% decline in business since the movement-control order (MCO) was imposed on March 18, such as in the case of Ex-Trade Money Changer Sdn Bhd owner Tajuddin Abdul Rahim.


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