The Malaysian Ringgit (also known as Malaysian dollar) is the official currency of the Malaysian Federation since June 1967. The Ringgit has the ISO 4217 MYR code and is represented by the RM symbol.
The Malaysian Ringgit is divided into 100 sen. These two names (Ringgit and Sen) were officially adopted in August 1975.
Today, Ringgit coins and bills are issued by the Central Bank of Malaysia (Bank Negara Malaysia).
Banknotes and coins of the Malaysian ringgit in use
Sens coins that you can find in circulation are 5, 10, 20 and 50 sen.
On the other hand, Ringgit bank notes that you can find in circulation have the following denominations: 1, 5, 10, 20, 50 and 100 Ringgit.
Did you know?
- The word "ringgit" means jagged in Malay and refers to the serrated edges of the Castilian reales that circulated in the area during the sixteenth and seventeenth centuries.
- The Ringgit shares the denomination with the Singapore dollar and the Brunei dollar, which are also known in Malay as ringgit.
- Malaysia, Singapore and Brunei, maintained an Agreement on interchangeability until May 8, 1973, when Malaysia left the economic space.
Why change currency with us rather than your bank
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|---|---|---|---|---|
| Variety of currencies | We have more than 60 currencies. We are specialists. | Only major currencies. Travel money is just a secondary business for banks. | ||
| Availability of currencies | Immediate availability of currencies in our branches. Click and collect. | If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can have the money on your hands. | ||
| Expenses | We only charge the exchange rate. If you book online you have the best price. | The bank sets its own margin plus a commission. | ||
| Different denominations available | At Global Exchange, you’ll get a variety of banknotes with different denominations, adapted to all your payment needs. | No. Prepare for refusals and complaints in foreign languages when paying with «big» banknotes abroad. | ||
| Delivery options | Order online to benefit from a price reduction and collect at the airport. | You will have to visit your bank twice: once to order your currency and wait for it to come. The second visit to collect it. |