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

SINGAPORE, Aug 16 — 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 Tan Sri 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 per cent in the first few minutes of trade. — Reuters