Ringgit weakens offshore after opposition claims poll win, Business Insider

0
125






The ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461 against the dollar.
Reuters

KUALA LUMPUR – Malaysia’s currency weakened in offshore trading after the opposition claimed victory in Wednesday’s general election.

The ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461 against the dollar, after the Southeast Asia nation’s long-serving former premier, Mahathir Mohamed, 92, claimed that the opposition alliance he leads had won enough parliament seats to form the next government.

Official results showed that, so far, Mahathir’s Pakatan Harapan (Alliance of Hope) had won 52 of parliament’s 222 seats and Prime Minister Najib Razak’s ruling coalition, Barisan Nasional (BN), had won 42.

A simple majority of 112 seats is required by a party or alliance to rule.










Source

Business News

LEAVE A REPLY

Please enter your comment!
Please enter your name here