Malaysian currency weakens offshore upon Harapan poll win claim

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 102 of parliament's 222 seats and caretaker prime minister Najib Abdul Razak's ruling coalition, Barisan Nasional (BN), had won 68.

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

- Reuters