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Ringgit, bonds slide as KL flags RM30b shortfall

Yield on 10-year govt debt rises three basis points to 4.24%, the highest since Nov 24

The Malaysian currency dropped 1.1 per cent to 4.2635 a US dollar in Kuala Lumpur on Tuesday, erasing its 0.4 per cent gain over the previous three days.

Kuala Lumpur

MALAYSIAN bonds fell and the ringgit's three-day gain petered out after the New Straits Times cited Prime Minister Najib Razak as saying the government faced a RM30 billion (S$9.88 billion) shortfall in 2016 due to a slump in oil prices.

The decline in bonds drove 10-