Malaysian Ringgit (MYR)

The national currency of Malaysia, RinggitThe currency could have remained just another dollar, of which there are quite a few in the world. However, since 1975, the monetary sign of the state in Southeast Asia was given its own name.

Notched Ringgit

"Ringgit"In the Malay language it literally means "serrated". That is how the local population called the Spanish piastres in circulation in the 16th-17th centuries, which had a serrated edge. When the Malay dollar was introduced in 1967, people still called it ringgit. That's why in 1975 the Government decided to officially adopt this name, as well as the national version of the cent - "piñata".Sen".

Malaysian Ringgit has had 4 issues, the last of which took place in 2008. The dominant colors of the banknote design are blue-green. The front side of all banknotes is decorated with the portrait of the first Supreme Ruler of Malaysia, Tunku Abdul Rahman.

Since 1998 ringgit was tied to US dollarHowever, since 2005, the National Bank of Malaysia canceled the peg, due to the end of the fixation of the Chinese yuan to the U.S. currency. Thereafter, the ringgit floated freely against baskets of major currencies, strengthening its exchange rate for the most part, devaluing only slightly during the global economic crisis in 2008.

Denominations of the Malaysian ringgit

One ringgit is equal to 100 senes. Bills in denominations of 1, 5, 10, 20, 50, and 100 ringgit are in circulation. The international designation of the Malaysian ringgit is MYR.

Banknotes of the Malaysian ringgit