Malaysian ringgit falls to one-year low as PM resignation looms

Reuters

Posted at Aug 16 2021 10:52 AM

Malaysia's Prime Minister Muhyiddin Yassin speaking during his cabinet announcement in Putrajaya, Malaysia March 9, 2020. Reuters, File Photo
Malaysia's Prime Minister Muhyiddin Yassin speaking during his cabinet announcement in Putrajaya, Malaysia March 9, 2020. Reuters, File Photo

SINGAPORE - The Malaysian ringgit fell to a one-year low on Monday and stocks in Kuala Lumpur slipped as an expectation that the Prime Minister will resign turned investors cautious.

Malaysian Prime Minister Muhyiddin Yassin is expected to step down on Monday, media reports say, after losing his majority in parliament.

The ringgit last traded at 4.2410 per dollar, its lowest since July 2020, while the FTSE Bursa Malaysia index fell 0.6 percent in the first few minutes of trade.

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