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This year's sales are projected to expand by 5.85 billion ringgit from 4 billion ringgit last year.
The Asian financial crisis was in full throttle, and the Malaysian ringgit , along with most other regional currencies, was falling fast.
The value of the ringgit has been seen as too low compared with other regional currencies which have gained strength reflecting the rising economy.
Another factor is speculation the Malaysian ringgit might be devalued and this put pressure on the Singapore dollar as well.
Economists and industry leaders lauded the decision to allow the ringgit to be dictated by market forces for the first time in seven years, saying it was time to dismantle the last of the crisis-era financial controls.
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