NEWS

M'sian currency weakens offshore upon Harapan poll win claim

Reuters

Published
Modified 9 May 2018, 6:09 pm

GE14 | Malaysia's currency weakened in offshore trading after the opposition claimed victory in yesterday's general election.

The ringgit one-month non-deliverable forward fell 1.7 percent to 4.0461 against the dollar, after the Southeast Asia nation's long-serving former premier, Dr Mahathir Mohamad, 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 had won 52 of Parliament's 222 seats and caretaker prime minister Najib Abdul Razak's ruling coalition, BN, had won 42.

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

- Reuters

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