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

• Aug 16, 2021

SINGAPORE (REUTERS) – The Malaysian ringgit fell to a one-year low on Monday (Aug 16) 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 United States dollar, its lowest since July last year, while the FTSE Bursa Malaysia index fell 0.6 per cent in the first few minutes of trade.