KUALA LUMPUR: The ringgit extended its downtrend against the US dollar at the opening today as the country’s political uncertainty drags on amid reports of a unity government in the works and calls for a snap election, analysts said.
Despite resigning as the country’s seventh Prime Minister, Dr Mahathir Mohamad has been appointed by the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah as the Interim Prime Minister. It said the foreign exchange transaction volume remains healthy at US$14.6 billion, supported by two-way flows, while the US dollar against ringgit one-month implied volatility remains within the normal range of 4-4.5%.
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