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Malaysia
Malaysian Ringgit (MYR)
Curiosities about the currency
The ringgit (MYR) is the currency of Malaysia since 1967, although it was not until 1975 that the term ringgit was coined. Some refer to this currency as the Malaysian dollar. The Malaysian ringgit is divided into 100 sen and is issued by the Bank Negara Malaysia.
The currency of Malaysia in the form of banknotes has denominations of 1, 5, 10, 20, 50, and 100 ringgit. Previously, banknotes of 500 and 1000 ringgit were used, but they were demonetised due to their high value and as a preventive measure against the counterfeiting of the ringgit.
The latest series of currencies from Malaysia that are in circulation have values of 1, 5, 10, 50, and 50 sen, although 1 ringgit coins were also distributed, but in this latest series, they were discarded since 1 ringgit notes were issued. The notes bear some resemblance to the dollar.
The term 'ringgit' translates as 'serrated' in Malay. This is due to the serrated edge shapes of the Spanish reales that were used in the area between the 16th and 17th centuries. In the Malay language, the Singapore dollar and the Brunei dollar are also referred to as ringgit.
Until 1973, an economic space was maintained by an Agreement on interchangeability signed by Malaysia, Singapore, and Brunei. Values fluctuated, but the MYR remained over the years as a high-value currency.
What do the banknotes/coins look like?
Front part
*The banknotes and coins correspond to the newest issued series and are for reference. Colours may vary and there may be more designs than those shown.
