The ringgit is being weighed down by political instability, Fitch Solutions said in a Country Risk & Industry Research report.

For example, it said the third wave of Covid-19 infections was partly due to unstable coalition politics hobbling the government's ability to swiftly respond to the pandemic in the fourth quarter of last year.

The third wave of Covid-19, together with fiscal and monetary easing needed to support the economy through the pandemic, had "significantly" weakened...