Hung Parliament: Ringgit falls 290bps against greenback

The ringgit slipped further against the US dollar this morning, extending last week’s downtrend, as the first-ever hung Parliament outcome in Malaysia from the 15th general election (GE15) held on Saturday shook investor confidence, an analyst said.

At 9am, the local note slid 290 percentage points (bps) to 4.5780/5880 against the US dollar from Thursday’s close of 4.5490/5565.

The market was...