Ringgit falls to one-year low as PM resignation looms

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SINGAPORE (Aug 16): The Malaysian ringgit fell to a one-year low on Monday and stocks in Kuala Lumpur slipped as an expectation that the Prime Minister will resign turned investors cautious.

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Malaysian Prime Minister Muhyiddin Yassin is expected to step down on Monday, media reports say, after losing his majority in parliament.

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The ringgit last traded at 4.2410 per dollar, its lowest since July 2020, while the FTSE Bursa Malaysia index fell 0.6% in the first few minutes of trade.-REUTERS