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Malaysia raising US$2b as worst Asia currency saps forex reserves

KL taps US dollar bond market for first time in 4 years; ringgit has dropped 5.4%, compared with 4.6% slump in rupiah

Kuala Lumpur

MALAYSIA is tapping the US dollar bond market for the first time in four years as it burns through foreign-exchange reserves defending Asia's worst currency.

The government is poised to sell as much as US$2 billion of Islamic notes this week, one month after state-