Currency of Malaysia

Ringgit is the formal currency of Malaysia and it is also known as Malaysian dollar. The responsibility for issuance and control of currency lies with Bank Negara Malaysia. Ringgit is sub-divided into 100 cents or sen. It became the official means of exchange in 1967 replacing the Malaya and British Borneo at par. The replacement did not effect the denominations of this currency as it was available with all denominations of its predecessor except $10,000. The coinage induction was also made during this era with denominations of 1, 5, 10, 20 and 50 sen. In 1971, the series was added with one ringgit coin with frontage design of Malaysian Houses of Parliament. These first series coins were designed by the Geoffrey Colley. The mintage of this series coins was stopped in 1989 and second series coins were introduced in the country. First series coins are still practiced in minor transactions but there is very little use of them. The banknotes of ringgit also have a long story of modifications. These are printed in four series till now and their current denominations are RM1, RM5, RM10, RM20, RM50 and RM100. The front of these banknotes depict the image of Tuanku Abdul Rahman and a national flower of Malaysia, hibiscus. The bank sides of each note differ from one another. One can find Wau Bulan on RM1 note, Rhinoceros Hornbill on RM5, Rafflesia on RM10, The Hawksbill and Leatherback Turtle on RM20, Tunku Abdul Rahman Putra Al-Haj, Oil palm trees on RM50 and Mount Kinabalu and pinnacles rock formations of Gunung Apivalley on RM100 banknote.

Malaysia Currency Ringit