Malaysian ringgit hits four-month low on market re-opening after Mahathir’s shock election win

The ringgit slipped as much as 0.9 per cent, the most since November 2016, to 3.9870 at 8.49am, on May 14, 2018.
Reuters

The Malaysian ringgit fell to a four-month low on its first day of trade on Monday (May 14) following Mahathir Mohamad’s stunning win in the country’s general election last week.

The ringgit weakened as much as 0.9 percent to 3.985 versus the dollar on Monday, as traders came to grips with the election defeat of the coalition that had ruled the country for six decades.

The Malaysian stock exchange last week extended trading holidays to Thursday and Friday after the government declared them public holidays following the election results.