The high debt, however, was largely denominated in ringgit, mitigating external risks for Malaysia.
KUALA LUMPUR:The ringgit is likely to be exchanged cautiously amid aversion from risk-laden currencies and will be traded at between RM4.09 and RM4.16 against the US dollar next week, a dealer said.
Bank Islam Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said there is a risk aversion at the moment following fears over the contagious effect from Argentina, Turkey and South Africa alongside the expected imposition of tariffs by US President Donald Trump's administration after the expiry of public comment Friday.
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