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Nomura warns of fiscal tension in Malaysia

PETALING JAYA: Allowing a larger fiscal deficit and running the risk of a sovereign credit rating downgrade in 2019 could cause balance of payments stress, given Malaysia’s high short-term external debts and low foreign exchange (forex) reserves, said Nomura.

Sword of Damocles hangs over Sri Lanka

PETALING JAYA: Sri Lanka is at risk of an exchange rate crisis mainly due to its still-weak fiscal finances and a fragile external position.

If you exchange US$ for Indonesia rupiahs you get a free meal

JAKARTA: As Indonesia's currency trades at its weakest levels since the 1998 Asian financial crisis, a local restaurant chain is offering free meals to clients who can prove they have exchanged holdings of U.S. dollars for the ailing rupiah.

A cook prepares food at a restaurant which offers free meals for people who can show they have recently changed U.S. dollars for Indonesian rupiah at their outlet in Jakarta, Indonesia. - Reuters filepic

Ringgit seen to be exchanged cautiously next week

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.