Malaysian ringgit weakens offshore after opposition claims poll win

As at 9.26 am(0123 gmt), the local unit was quoted at 3.9250/9280 against the US dollar from 3.9220/9250 recorded at the close on Monday.

KUALA LUMPUR: Malaysia's currency weakened in offshore trading after the opposition claimed victory in Wednesday's general election.

The ringgit one-month non-deliverable forward fell 1.7 pct to 4.0461 against the dollar, after the Southeast Asia nation's long-serving former premier, Mahathir Mohamed, 92, claimed that the opposition alliance he leads had won enough parliament seats to form the next government.

Mahathir's stunning defeat of the coalition that has ruled the Southeast Asian country since independence from Britain six decades ago means that, at the age of 92, he will become the oldest elected leader in the world.