Ringgit falls 290bps against greenback at open on anxiety over hung parliament

KUALA LUMPUR: 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 last Saturday shook investor confidence, an analyst said.

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