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Nearly 40 central banks have increased their exposure to the euro in the past two years, mainly at the expense of the US dollar, according to a survey of 65 central banks released yesterday.
THE local currency, which is pegged to the US dollar, has lately depreciated sharply against other currencies #8211; such as the Aussie, the Singapore dollar and the euro #8211; in tandem with the softening greenback.
Five years into an oil price boom, social tensions and growing populations mean Organisation of Petroleum Exporting Countries (Opec) states need to invest more heavily, but public sector spending is eroding the windfall and storing problems for the future.
Prime Minister Datuk Seri Dr Mahathir Mohamad will lead the Malaysian delegation to the 9th Asean Summit in Bali to be attended by Asean leaders and the heads of government of China, India, Japan and Korea.