Malaysian ringgit jumps to 10-mth high after ruling coalition wins election

Malaysian ringgit jumps to 10-mth high after ruling coalition wins election

SINGAPORE - The Malaysian ringgit surged to a ten-month high on Monday after the governing National Front coalition extended its 56-year rule, seeing off a strong challenge by an opposition alliance that had unnerved investors because of the potential for political instability.

The ringgit rose 1.4 per cent to 2.9920 per dollar, its strongest since March 2, 2012.

The National Front, or Barisan National, won 133 seats in the 222-member parliament in Sunday's election, although it failed to regain the two-thirds majority it lost for the first time in 2008.

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