Malaysia liberalises foreign exchange administration policy

KUALA LUMPUR, Aug 16 (Reuters) - Malaysia's central bank on Friday announced a further liberalisation of its foreign exchange administration (FEA) policy, saying it would provide businesses with greater flexibility in managing their foreign exchange risks and daily operations.

The new measures include allowing residents to hedge their foreign currency current account obligations up to their underlying tenure, and allowing non-residents to hedge on an anticipatory basis.

The measures will effective on Aug. 30, Bank Negara Malaysia said. (Reporting by Rozanna Latiff; Editing by Kim Coghill)