Malaysian ringgit

Malaysian ringgit
Ringgit Malaysia (Malay)
令吉 (Malaysian Chinese)

The Malaysian ringgit third series coinage and fourth series banknote designs announced in 2011 by Bank Negara Malaysia.
ISO 4217
Code MYR
Denominations
Subunit
 1/100 sen
Symbol RM
Banknotes RM1, RM5, RM10, RM20, RM50, RM100
Coins 5, 10, 20, 50 sen
Demographics
Official user(s)  Malaysia
Unofficial user(s)  Indonesia
(border area)[1][2][3]
 Philippines
(border area)[4][5]
 Thailand
(border area)[6][7]
 Vietnam
(in certain parts of Ho Chi Minh City)[8]
Issuance
Central bank Bank Negara Malaysia
 Website www.bnm.gov.my
Valuation
Inflation 1.4%[9]
 Source Department of Statistics, Malaysia, Aug 2012

The Malaysian ringgit (/ˈrɪŋɡɪt/; plural: ringgit; symbol: RM; currency code: MYR; formerly the Malaysian dollar) is the currency of Malaysia. It is divided into 100 sen (cents). The ringgit is issued by the Bank Negara Malaysia.

Etymology

The word ringgit is an obsolete term for "jagged" in Malay and was originally used to refer to the serrated edges of silver Spanish dollars which circulated widely in the area during the 16th and 17th century Portuguese colonial era. In modern usage ringgit is used almost solely for the currency. Due to the common heritage of the three modern currencies, the Singapore dollar and the Brunei dollar are also called ringgit in Malay (currencies such as the US and Australian dollars are translated as dolar), although nowadays the Singapore dollar is more commonly called dolar in Malay. To differentiate between the three currencies, the Malaysian currency is referred to as Ringgit Malaysia, hence the official abbreviation and currency symbol RM. Internationally, the ISO 4217 currency code for Malaysian ringgit is MYR.

The Malay names ringgit and sen were officially adopted as the sole official names in August 1975. Previously they had been known officially as dollars and cents in English and ringgit and sen in Malay, and in some parts of the country this usage continues. In the northern states of Peninsular Malaysia, denominations of 10 sen are called kupang in Malay ("poat8" in Hokkien, "Jiao" 角 in Mandarin), e.g. 50 sen is 5 kupang ("5 poat8" in Hokkien, "wujiao" 五角 in Mandarin).

History

Early history (1967—1997)

On 12 June 1967, the Malaysian dollar, issued by the new central bank, Bank Negara Malaysia, replaced the Malaya and British Borneo dollar at par.[10] The new currency retained all denominations of its predecessor except the $10,000 denomination, and also brought over the colour schemes of the old dollar. Over the course of the following decades, minor changes were made on the notes and coins issued, from the introduction of the M$1 coin in 1967, to the discontinuation of RM500 and RM1,000 notes in 1996.

As the Malaysian dollar replaced the Malaya and British Borneo dollar at par and Malaysia was a participating member of the sterling area, the new dollar was originally valued at 8.57 dollars per 1 British pound sterling. In November 1967, five months after the introduction of the Malaysian dollar, the pound was devalued by 14.3%, leading to a collapse in confidence for the sterling area and its demise in 1972. The new currency was not affected but earlier notes of the Malaya and British Borneo dollar were still pegged at 8.57 dollars per 1 pound; consequently these notes were reduced in value to 85 cents per dollar.

Despite the emergence of new currencies in Malaysia, Singapore and Brunei, the Interchangeability Agreement which the three countries adhered to as original members of the currency union meant the Malaysian dollar was exchangeable at par with the Singapore dollar and Brunei dollar. This ended on 8 May 1973, when the Malaysian government withdrew from the agreement.[11] The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the interchangeability of their two currencies, as of 2009.[11]

In 1993, the currency symbol "RM" (Ringgit Malaysia) was introduced to replace the use of the dollar sign "$" (or "M$").

East Asian financial crisis and US dollar currency peg (1997—2005)

Between 1995 and 1997, the ringgit was trading as a free float currency at around 2.50 to the US dollar,[12] but following the onset of the 1997 East Asian financial crisis, the ringgit witnessed major dips to under 3.80 to the dollar by the end of 1997 as a result of capital flight.[12] During the first half of 1998, the currency fluctuated between 3.80 and 4.40 to the dollar,[12] before Bank Negara Malaysia moved to peg the ringgit to the US dollar in September 1998, maintaining its 3.80 to the dollar value for almost seven years while remaining floated against other currencies. In addition, the ringgit was designated non-tradeable outside of Malaysia in 1998 to stem the flow of money out of the country.

While the printing of RM500 and RM1,000 notes had ceased in 1996 in response to risks of money laundering and capital flight, the underestimated effects of the financial crisis prompted the central bank to completely discontinue the use of the notes in 1999 by demonitising remaining notes in circulation, thereby ceasing to be of legal tender and being only exchangeable directly at the central bank.At the time of this note's demonetization from circulation in 1999,the RM500 notes worth approx. US$130 and RM1,000 worth of US$260 (according to 1999 exchange rate : US$1 = RM3.80).Despite these measures, some 7.6% of RM500 notes and 0.6% of RM1,000 notes remain in circulation as of 30 January 2011. During a 2011 parliamentary session, then Deputy Finance Minister Donald Lim Siang Chai asserted that a total of 150,599 and 26,018 pieces of RM500 and RM1,000 notes (RM75,299,500 worth of RM500 notes and RM26,018,000.00 worth of RM1,000 notes) have yet to be withdrawn through the central bank.[13]

The ringgit lost 50% of its value against the US dollar between 1997 and 1998, and suffered general depreciation against other currencies between December 2001 and January 2005. As of 4 September 2008, the ringgit has yet to regain its value circa 2001 against the Singapore dollar (SGD) (2.07 to 2.40 to the MYR),[14] the euro (EUR) (3.40 to 4.97 to the MYR),[15] the Australian dollar (AUD) (1.98 to 2.80 to the MYR[16]), and the British pound (GBP) (5.42 to 6.10 to the MYR[17]).

On 21 July 2005, Bank Negara announced the end of the peg to the US dollar immediately after China's announcement of the end of the renminbi peg to the US dollar.[18][19][20] According to Bank Negara, Malaysia allows the ringgit to operate in a managed float against several major currencies. This has resulted in the value of the ringgit rising closer to its perceived market value, although Bank Negara has intervened in financial markets to maintain stability in the trading level of the ringgit. This task is made easier by the fact that the ringgit has been non-tradeable outside Malaysia since 1998, which coincided with its pegging to the US dollar, a restriction that was not removed when it was de-pegged in July 2005.

Post-US dollar currency peg performance (2005—present)

Following the end of the currency peg, the ringgit appreciated to as high as 3.16 to the US dollar in April 2008. The ringgit had also enjoyed a period of appreciation against the Hong Kong dollar (HKD) (from 0.49 to 0.44 to the MYR)[21] and the renminbi (CNY) (0.46 to 0.45 to the MYR)[22] as recently as May 2008. The initial stability of the ringgit in the late-2000s had led to considerations to reintroduce the currency to foreign trading. In a CNBC interview in September 2010, Najib Tun Razak, the then Prime Minister and Finance Minister of Malaysia, was quoted in stating that the government was planning the reentry of the ringgit into off-shore trading if the move will help the economy, with the condition that rules and regulations were put in place to prevent abuses.[23]

Political uncertainty following the country's 2008 general election and the 2008 Permatang Pauh by-election, falling oil prices in the late-2000s, and the lack of intervention by Bank Negara to increase already low interest rates (which remained at 3.5% between April 2006 and November 2008)[24] led to a slight fall of the ringgit's value against the US dollar between May and July 2008, followed by a sharper drop between August and September of the same year. As a result, the US dollar appreciated significantly to close at 3.43 to the MYR as of 4 September 2008,[25] while other major currencies, including the renminbi and Hong Kong dollar, followed suit. The ringgit spiked at 3.73 to the US dollar by March 2009, before gradually recovering to 3.00 to the US dollar by mid-2011 and normalising at around 3.10 between 2011 and 2014.

The ringgit would experience more acute plunges in the value since mid-2014 following the escalation of the 1Malaysia Development Berhad scandal that raised allegations of political channeling of billions of ringgit to off-shore accounts, and uncertainty from the 2015–16 Chinese stock market turbulence and the effects of the 2016 United States presidential election results. The currency's value fell from an average of 3.20 to the US dollar in mid-2014 to around 3.70 by early 2015; with China being Malaysia's largest trading partner, a Chinese stock market crash in June 2015 triggered another plunge in value for the ringgit, which reached levels unseen since 1998 at lows of 4.43 to the US dollar on September 2015, before stabilising around 4.10 to 4.20 to the US dollar soon after;[26] the currency would finally plummet and hover below the 1998 lows since November 2016, between 4.40 and 4.50 to the US dollar, in the wake of the victory of pro-protectionist Donald Trump in the 2016 United States presidential election, which has raised questions of United State's participation in the Trans-Pacific Partnership (which Malaysia is a signatory of, and the United States had promptly pulled out from in January 2017) and Malaysia–United States trade as a whole (as the United States is among Malaysia's largest trading partners).

Historical exchange rates

Single currency units in ringgit, averaged over the year.
Country

Currencies

 1993 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2015 (as of 30 Dec)
United States dollar 2.5737 2.5415 3.8000 3.8000 3.8000 3.8000 3.8000 3.7872 3.6669 3.4356 3.3308 3.5245 3.0646 3.1730 4.3067
Euro 1.5595 (as German mark); 0.455277 (as French Franc) 1.5926 (as German mark); 0.508370 (as French Franc 3.5089 3.4025 3.5925 4.2999 4.7267 4.7144 4.6028 4.707 4.8851 4.9040 4.0950 4.1055 4.6996
British pound 3.8654 3.9458 5.7602 5.4802 5.7096 6.2116 6.9511 6.8928 6.7531 6.8748 6.3619 5.5081 4.7575 4.9150 6.54728
Singapore dollar1.5959 1.7950 2.2034 2.1208 2.1226 2.1807 2.2488 2.2762 2.3082 2.2807 2.3542 2.4237 2.3897 2.4410 3.0436
Australian dollar1.7499 1.8877 2.20995 1.9647 2.0661 2.4786 2.7997 2.8874 2.7622 2.8796 2.8239 2.7823 3.1174 3.2268 3.05344
Japanese yen0.023224 0.024593 0.035257 0.031291 0.030395 0.032832 0.035154 0.034377 0.031517 0.029194 0.032351 0.037690 0.037690 0.040973 0.0341903
Chinese yuan0.4454 0.3046 0.4590 0.4591 0.4589 0.4589 0.4591 0.4622 0.4599 0.4519 0.4798 0.5159 0.4642 0.5032 0.653301
Current MYR exchange rates
From Google Finance: AUD CAD CHF EUR GBP HKD JPY USD INR SGD CNY
From Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD INR SGD CNY
From XE: AUD CAD CHF EUR GBP HKD JPY USD INR SGD CNY
From OANDA: AUD CAD CHF EUR GBP HKD JPY USD INR SGD CNY
From fxtop.com: AUD CAD CHF EUR GBP HKD JPY USD INR SGD CNY

Coinage

First series (1967)

The first series of sen coins were introduced in 1967 in denominations of 1 sen, 5 sen, 10 sen, 20 sen, 50 sen, followed by the introduction of the 1 ringgit coin (which used the $ symbol and is the largest coin in the series) in 1971. While varied by diameters, virtually all the coins were minted in near-consistent obverse and reverse designs and were very generic, with the obverse depicting the then recently completed Malaysian Houses of Parliament and the federal star and crescent moon from the canton of the Malaysian flag. All coins were minted from cupronickel, the only exception being the 1 sen coin, which was first composed from bronze between 1967 and 1972, then in steel clad with copper from 1973 on. The 50 sen coin is the only one in the series to undergo a redesign, a minor 1971 modification on its edge to include "Bank Negara Malaysia" letterings. All coins have the initials GC on the reverse, below the Parliament House. It stands for Geoffrey Colley, Malaysia first coin series' designer.[27] The 1 ringgit coin was never popular at the time due to being in conflict with a banknote of equal face value, similar to the current situation regarding the 1 dollar coin of the United States dollar.

The coins of this first series were identical in size and composition to those of the former Malaya and British Borneo dollar. Though the Malayan currency union coins were withdrawn, they still appear in circulation on very rare occasion.

Minting of the first sen series ended in 1989, when the second series was introduced. The older coins remain legal tender as of 2013, but have steadily declined in number and are seldom seen in circulation.

First series
Image Value Technical parameters Description Date of
Obverse Reverse Diameter Composition Edge Reverse Obverse first minting issue
1 sen 18 mm Bronze Plain Parliament House and a 13-pointed star and crescent moon State title, value, year of minting 1967 12 June 1967
1 sen Copper clad steel 1973 Unknown
5 sen 16 mm Cupronickel Reeded Parliament House and a 13-pointed star and crescent moon State title, value, year of minting 1967 12 June 1967
10 sen 19 mm
20 sen 23 mm
50 sen 28 mm
50 sen Lettered "Bank Negara Malaysia" in block caps 1971 Unknown
$1 33 mm Lettered "Bank Negara Malaysia" in block caps Parliament House and a 14-pointed star and crescent moon. The crescent and stars are depicted in thinner forms; the crescent itself is significantly larger and situated in the same position as the Parliament House. 1971 1 May 1971

Second series (1989)

The second series of sen coins entered circulation in late 1989, sporting completely redesigned observes and reverses, but predominantly retaining the design of edges, diameters and composition of the previous series' coins previous to 1989, the 1 ringgit coin being the exception. Changes include the depiction of items of Malay culture on the obverse, such as a local mancala game board called congkak on the 10 sen and the wau bulan or "moon kite" on the 50 sen among other things, as well as the inclusion of a Hibiscus rosa-sinensis (Malay: Bunga Raya), the national flower of Malaysia, on the upper half of the reverse. The second series was designed by Low Yee Kheng.

In addition to changes on its observe and reverse, the size of the 1 ringgit coin was also reduced from a diameter of 33 mm to 24 mm, and was minted from an alloy of copper, zinc and tin, as opposed to the first series' cupronickel. The $ symbol was brought over to the new coin, but was dropped in favour of "RINGGIT" for coins minted from 1993 onwards. On 7 December 2005, the 1 ringgit coin was demonetised and withdrawn from circulation. This was partly due to problems with standardisation (two different versions of the second series coin were minted) and forgery.[28]

As of 1 April 2008, a rounding mechanism of prices to the nearest 5 sen, applied to the total bill only, is in force, which was first announced in 2007 by Bank Negara Malaysia, in an attempt to render the 1 sen coin irrelevant.[29] Individual items and services can still be priced in multiples of 1 sen with the final totalled rounded to the nearest 5 sen. For example, purchasing two items priced RM4.88 and RM3.14, totalling RM8.02, would then be rounded to RM8.00. If each item had been individually rounded (to RM4.90 and RM3.15 respectively) the incorrect total would have been RM8.05. In practice, individual items will probably remain priced at so-called "price points" (or psychological pricing and odd-number pricing) ending in 98 and 99 to maximise rounding gains for the vendor, especially in the case of single item purchases. Existing 1 sen and ringgit coins in circulation remain legal tender for payments up to RM2.00.[30]

Second series
Image Value Technical parameters Description Date of
Obverse Reverse Diameter Composition Edge Reverse Obverse first minting issue
1 sen 18 mm Bronze clad steel Plain Rebana ubi Bank title, value, year of minting 1989 4 September 1989
5 sen 16 mm Cupronickel Reeded Gasing Bank title, value, year of minting 1989 4 September 1989
10 sen 19 mm Congkak
20 sen 23 mm Sirih and kapur container
50 sen 28 mm Lettered "Bank Negara Malaysia" Wau
$1 24 mm Copper-zinc-tin Reeded Keris with a songket background Bank title, "$1", year of minting 1989 4 September 1989
RM1 Bank title, "1 RINGGIT", year of minting 1993 Unknown
For table standards, see the coin specification table.

Third series (2012)

The third series of coins were announced on 25 July 2011, first being issued as commemorative coins to mark their release on 16 January 2012. The third series carry a theme named "Distinctively Malaysia" and are inspired from motifs of flora and fauna drawn from various cultures in Malaysia to "reflect the diversity and richness of Malaysia's national identity". The denominations issued are 5, 10, 20 and 50 sen. On 24 October 2011, Deputy Finance Minister Datuk Donald Lim named Poogsan Corporation of South Korea as the series' coin suppliers and the coins are minted at the Bank Negara Mint in Shah Alam.[31]

According to Lim, costs in producing the coins will be reduced by 49% due to the change in metal composition. Other changes in the series include the diameter, the colour on the 20- and 50 sen coins (from silver to yellow) and a redesign on the obverse (featuring different motifs for each denomination), fourteen dots symbolising the thirteen states and the collective Federal Territories, and five horizontal lines indicating the five principles of Rukunegara.[32]

The 50-cent coin is more distinctive than the other denominations. The round shape of the coin has nine indentations, forgoing the original "BANK NEGARA MALAYSIA" lettering. The obverse does not feature the five horizontal lines, but instead a latent image security feature is placed over the coin, where lettering of the denomination "50" and "SEN" can be seen when the coin is tilted slightly.

The 20 sen and 50 sen coins look similar to €0.20 and €0.50 coin in size, design and colour, however they are only worth at €0.047 and €0.12 respectively. The edges of the coins however, are similar to €0.20 for 50 sen coins and €0.50 for 20 sen coins to distinguish it with €0.20 and €0.50 euro coins.

Third Series
Image Value Technical parameters Description Date of
Obverse Reverse Diameter Mass Composition Edge Reverse Obverse first minting issue
5 sen 17.78 mm 1.72 g Stainless steel Plain 14 dots, five horizontal lines, sulur kacang (pea tendrils) motif,
"destar siga" cloth motif of the Kadazan-Dusun tribes		 Bank title, value, year of minting, the national flower 2011 16 January 2012
10 sen 18.80 mm 2.98 g Milled 14 dots, five horizontal lines,
Weave pattern of the Mah Meri people.
20 sen 20.60 mm 4.18 g Nickel Brass Plain 14 dots, five horizontal lines, bunga melur (Jasmine flower) motif on the foreground with a "destar siga" motif on the background
50 sen 22.65 mm 5.66 g Nickel Brass clad Copper Coarse 14 dots, sulur kacang (pea tendrils) motif and
fine lines denoting security feature
For table standards, see the coin specification table.

Banknotes

First series (1967)

Bank Negara Malaysia first issued Malaysian dollar banknotes on 6 June 1967 in $1, $5, $10, $50 and $100 denominations.[33] The $1000 denomination was first issued on 2 September 1968. The first Malaysian banknotes carried the image of Tuanku Abdul Rahman, the first Yang di-Pertuan Agong of Malaysia and bore the signature of Tun Ismail bin Mohamed Ali, the first Malaysian Governor of Bank Negara Malaysia. On 16 August 1972, Bank Negara Malaysia adopted official new spelling system of the national language, Bahasa Malaysia, into the printing of its currency notes while retaining the designs. The banknotes with new spellings are circulated alongside the old banknotes.[34]

First Series
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
$1 Blue Tuanku Abdul Rahman Bank Negara Logo, the Kijang Emas June 1967
$5 Green
$10 Red
$50 Blue/grey
$100 Violet
$1000 purple/green Parliament building in Kuala Lumpur 2 September 1968
For table standards, see the banknote specification table.

Second series (1982)

The second series was issued with Malaysian traditional ornamental designs in 1982, in $1, $5, $10, $20, $50, $100, $500, and $1000 denominations. The $20 was generally relatively uncommon. Until 2010 the second series notes were still occasionally encountered.

The mark for the blind on the upper left hand corner was removed on the second revision in 1985.

In 1999 the RM500 and RM1000 notes were discontinued and ceased to be legal tender. This was due because of the Asian monetary crisis of 1997 when huge amounts of ringgit were taken out of the country to be traded in these notes. In effect the notes were withdrawn out of circulation and the amount of ringgit taken out of the country in banknotes was limited to RM1000.

In 1993, $1 notes were discontinued and replaced by the $1 coin.

Second Series (a)
Image Value Main Colour Description Date of issueRemark
Obverse Reverse Obverse Reverse
$1 Blue Tuanku Abdul Rahman The National Monument in Kuala Lumpur 1982 with blind mark.
$5 Green Former Istana Negara in Kuala Lumpur 1982
$10 Red Old Kuala Lumpur Railway Station 1982
$20 Brown/white Bank Negara Malaysia headquarters in Kuala Lumpur 1982
$50 Blue/grey National Museum in Kuala Lumpur 1982
$100 Violet National Mosque in Kuala Lumpur 1982
$500 Orange Former Supreme Court building in Kuala Lumpur 1982
$1000 Blue/green Parliament building in Kuala Lumpur 1982
For table standards, see the banknote specification table.
Second Series (b)
Image Value Main Colour Description Date of issue
Obverse Reverse Obverse Reverse
$1 Blue Tuanku Abdul Rahman The National Monument in Kuala Lumpur 1985
$5 Green Former Istana Negara in Kuala Lumpur 1985
$10 Red Old Kuala Lumpur Railway Station 1985
$20 Brown/white Bank Negara Malaysia headquarters in Kuala Lumpur 1985
$50 Blue/grey National Museum in Kuala Lumpur 1985
$100 Violet National Mosque in Kuala Lumpur 1985
$500 Orange Former Supreme Court building in Kuala Lumpur 1985
$1000 Blue/green Parliament building in Kuala Lumpur 1985
For table standards, see the banknote specification table.

Third series (1996)

The third series was issued with designs in the spirit of Wawasan 2020 in 1996 in denominations of RM1, RM2, RM5, RM10, RM50 and RM100. The larger denomination RM50 and RM100 notes had an additional hologram strip to deter counterfeiters.

In 2004, Bank Negara issued a new RM10 note with additional security features including the holographic strip previously only seen on the RM50 and RM100 notes. A new RM5 polymer banknote with a distinctive transparent window was also issued. Both new banknotes are almost identical to their original third series designs. At one time, Bank Negara announced its intention to eventually phase out all paper notes and replace them with polymer notes.

Third Series[35]
Image Value Dimensions Main Colour Description Date of issue Status Remark
Obverse Reverse Obverse Reverse
RM1 120 × 65 mm Blue Tuanku Abdul Rahman Mount Kinabalu, Mount Mulu and "Wau Bulan" kite 8 November 2000 Circulation Paper
RM2 130 × 65 mm Lilac Menara Kuala Lumpur communications tower and the MEASAT satellite 5 February 1996 Withdrawn Paper
RM5 135 × 65 mm Green Multimedia Super Corridor, KLIA and Petronas Twin Towers 27 September 1999 Withdrawn Paper
26 October 2004 Circulation Polymer (Biaxially-oriented polypropylene)
RM10 140 × 65 mm Red Putra LRT train, Malaysia Airlines Boeing 777 aircraft and MISC ship 10 January 1998 Withdrawn Paper (without holographic strip)
5 January 2004 Circulation Paper (with holographic strip)
RM50 145 × 69 mm Blue/grey Mining, Petronas oil platform 20 July 1998 Circulation Paper (with holographic strip)
RM100 150 × 69 mm Violet Proton car production line and engine 26 October 1998 Circulation Paper (with holographic strip)
For table standards, see the banknote specification table.

Fourth series (2012)

In early 2008, the Bank released a newly designed RM50 banknote, which according to the Bank, were to enter general circulation beginning 30 January 2008. Earlier, 20,000 more such notes with special packaging were distributed by the bank on 26 December 2007.

The newly designed RM50 banknote retains the predominant colour of green-blue, but is designed in a new theme, dubbed the "National Mission", expressing the notion of Malaysia "[moving] the economy up the value chain", in accordance to Malaysia's economic transformation to higher value-added activities in agriculture, manufacturing and services sectors of the economy. The dominant intaglio portrait of the first Yang di-Pertuan Agong, Tuanku Abdul Rahman, is retained on the right and the national flower, the hibiscus, is presented in the center on the obverse of the note. Design patterns from songket weaving, which are in the background and edges of the banknote, are featured to reflect the traditional Malay textile handicraft and embroidery.[36]

The first 50 million pieces of the new RM50 banknote features Malaysia's first Prime Minister, Tunku Abdul Rahman, at the historic declaration of Malaya's independence, and the logo of the 50th Anniversary of Independence on the reverse.[36] Security features on the banknote include a watermarked portrait of the Yang di-Pertuan Agong, a security thread, micro letterings, fluorescent elements visible only under ultraviolet light, a multi coloured latent image which changes colour when viewed at different angles, and a holographic stripe at the side of the note and an image that is visible only via a moiré effect to prevent counterfeiting using photocopiers.[36] Circulation for the first edition of this new RM50 banknote was eventually curtailed by the Central Bank due to the various Malaysia banks' automatic teller machines inability to accept it. The bank began to re-release the new series for general circulation beginning 15 July 2009 without the 50th Anniversary logo. This edition include new enhanced security features such as two color number fluorescents and security fibres.[37]

In May 2011, Bank Negara Malaysia had announced that they will introduce a new series of banknotes to replace the current design that has been in circulation for around 15 years. The most highlighted part of the announcement is the re-introduction of the RM20 note, which was not included in the third series.[38] The design of the new notes was announced on 21 December 2011, and the notes are expected to be put into circulation in the second half of 2012. The new series banknotes are legal tender and will co-circulate with the existing series. The existing series will be gradually phased out. All 4 series of banknotes (except 500, and 1000) are technically still legal tender, but some vendors may not accept the first and second series banknotes (rarely seen now). All banknote denominations in the new series will retain the portrait of the first Yang di-Pertuan Agong, Tuanku Abdul Rahman.[39] The banknotes are supplied by Crane AB of Sweden, Giesecke & Devrient GmbH of Germany, Oberthur Technologies of France and Orell Fussli of Switzerland.[31] They were put into circulation on 16 July 2012.

Fourth Series[40]
Image Value Dimensions Main Colour Substrate Description Date of issue Remark
Obverse Reverse Obverse Reverse
RM1 120 × 65 mm Blue Polymer Tuanku Abdul Rahman with the national flower, hibiscus, and patterns of the traditional fabric – the songket Wau bulan 16 July 2012[41]
RM5 135 × 65 mm Green Rhinoceros hornbill 16 July 2012
RM10 140 × 65 mm Red Paper Rafflesia 16 July 2012
RM20 145 × 65 mm Orange Hawksbill and leatherback turtle 16 July 2012
RM50 145 × 69 mm Cyan Malaysia's first Prime Minister, Tunku Abdul Rahman Putra Al-Haj, Oil palm trees 15 July 2009 Circulating notes (Starting prefix AF)
RM100 150 × 69 mm Purple Mount Kinabalu and pinnacles rock formations of Gunung Api valley 16 July 2012
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Commemorative banknotes

Commemorative banknotes are also released in limited quantity. To commemorate the 1998 Commonwealth Games in Kuala Lumpur, a commemorative RM50 polymer banknote was issued. This note is hardly ever seen in normal usage, its use being a collector's commemorative. This note was printed by Note Printing Australia (NPA).

For the fourth series, customers are able to purchase them in three distinct sets; a pair of RM1 and RM5 banknotes, a set of RM20 banknotes, and the full set of RM1, RM5, RM10, RM20, RM50 and RM100 banknotes. The RM50 banknote no longer carries the logo of the 50th Anniversary of Independence.

Commemorative
Image Value Dimensions Main Colour Description Date of issue Remark
Obverse Reverse Obverse Reverse
RM50 152 × 76 mm Yellow and green Tuanku Abdul Rahman, the skyline of Kuala Lumpur (with the Petronas Twin Towers) Bukit Jalil Sports complex 1 June 1998 Polymer (Biaxially-oriented polypropylene)
RM50 145 × 69 mm Blue and green Tuanku Abdul Rahman with the national flower, hibiscus Malaysia's first Prime Minister, Tunku Abdul Rahman Putra Al-Haj and the logo of the 50th Anniversary of Independence. Oil palm trees 26 December 2007 Commemorative fourth series no longer issued, identified with yellow border at both sides (from AA 0000001 to AA 0020000). Prefix AA 0020001 until AE is for normal circulation.
These images are to scale at 0.7 pixels per millimetre. For table standards, see the banknote specification table.

Kijang Emas

Three denominations of gold bullion coins, the "Kijang Emas" (the kijang, a species of deer, being part of Bank Negara Malaysia's logo) are also issued, at the face value of RM 50, RM 100 and RM 200, weighing ¼ oz, ½ oz and 1 oz respectively. It is minted by the Royal Mint of Malaysia and was launched on 17 July 2001 by Bank Negara Malaysia, making Malaysia the twelfth country to issue its own gold bullion coins. Like other bullion coins issued around the world, the Kijang Emas is primarily used as an investment rather than day-to-day circulation. The purchase and reselling price of Kijang Emas is determined by the prevailing international gold market price.[42]

See also

References

  1. ↑ "Warga Perbatasan Transaksi Pakai Ringgit" (in Indonesian). Republika Online. 17 October 2011. Retrieved 22 November 2014.
  2. ↑ Warga Perbatasan Gunakan Mata Uang Ringgit (video) (in Indonesian). Viva News. 24 February 2013. Event occurs at 2:07. Retrieved 22 November 2014.
  3. ↑ "Miris, "Garuda di Dadaku, Ringgit di Kantongku"" (in Indonesian). Kompas.com. 15 March 2014. Retrieved 22 November 2014.
  4. ↑ Ron Gagalac (5 March 2013). "Food prices up 100% in Tawi-Tawi due to Sabah standoff". ABS-CBN News. Retrieved 22 November 2014.
  5. ↑ "UN's call should be heeded to end violence in Sabah, says Hajiri". Zamboanga Today. 9 March 2013. Retrieved 22 November 2014.
  6. ↑ "Relaxation in the carrying of Ringgit Malaysia for border traders". Bank Negara Malaysia. 5 February 1999. Retrieved 22 November 2014.
  7. ↑ "Warning over fake ringgit in South". Bangkok Post. 6 September 2013. Retrieved 22 November 2014.
  8. ↑ Muhammad Nizar Bin Jamaludin; Nur Hafizah Shaarani (30 April 2012). Panduan Memborong di Vietnam (in Malay). PTS Professional. pp. 156–. ISBN 978-967-369-196-8.
  9. ↑ Approximately 30% of goods are price-controlled (2010 est.) (The World Factbook) Archived 24 December 2009 at WebCite
  10. ↑ International Economics - Historial Exchange Rate Regime of Asian Countries Archived 8 July 2015 at the Wayback Machine.
  11. 1 2 "The Currency History of Singapore". Monetary Authority of Singapore. 9 April 2007. Archived from the original on 2 February 2010. Retrieved 3 July 2008. Official Currencies of The Straits Settlements (1826-1939); Currencies of the Board of Commissioners of Currency, Malaya (1939-1951); Currencies of the Board of Commissioners of Currency, Malaya and British Borneo (1952-1957); Currencies of the Independent Malaya (1957-1963); On 12 June 1967, the currency union which had been operating for 29 years came to an end, and the three participating countries, Malaysia, Singapore and Brunei each issued its own currency. The currencies of the 3 countries were interchangeable at par value under the Interchangeability Agreement until 8 May 1973 when the Malaysian government decided to terminate it. Brunei and Singapore however continue with the Agreement until the present day.
  12. 1 2 3 "Kadar Tukaran Matawang MYR – USD". niagaummah.com. Archived from the original on 18 October 2015. Retrieved 14 January 2015.
  13. ↑ "The RM500 and RM1000 Note". Blogspot. http://malaysianbanknotes.blogspot.my. 3 July 2011. Retrieved 7 December 2016. External link in |publisher= (help)
  14. ↑ "Singapore Dollar to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 4 September 2008.
  15. ↑ "Euro to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 4 September 2008.
  16. ↑ "Australian Dollar to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 4 September 2008.
  17. ↑ "British Pound to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 4 September 2008.
  18. ↑ "2006 Investment Climate Statement -- Malaysia". U.S. State Department. Archived from the original on 2 January 2008. Retrieved 3 January 2008.
  19. ↑ "Malaysia: Economic and political situation (2005)". UK Trade & Investment. Retrieved 3 January 2008.
  20. ↑ Lenard, David M (23 July 2005). "Beijing's 'Thursday surprise'". Asia Times Online. Retrieved 3 January 2008.
  21. ↑ "Hong Kong Dollar to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 7 May 2008.
  22. ↑ "Chinese Yuan to Malaysian Ringgit Exchange Rate". Yahoo! Finance. Retrieved 7 May 2008.
  23. ↑ Rupe Damodaron (13 September 2010). "All eyes on ringgit after PM's remarks". Business Times Malaysia. Archived from the original on 16 September 2010.
  24. ↑ Yong, David (4 September 2008). "Malaysian Ringgit Will Be a 'Washout', Institute Says (Update2)". Bloomberg.com. Retrieved 4 September 2008.
  25. ↑ "US Dollar ($) ⇨ Malaysian Ringgit (MYR)". Google Finance. Retrieved 22 July 2016.
  26. ↑ "Malaysia reserves fall again as ringgit continues to slide". Retrieved 13 August 2016.
  27. ↑ "Malaysia 1st series coin designer". lunaticg.blogspot. Retrieved 16 May 2012.
  28. ↑ "Times are changing for fake ringgit coins". South China Morning Post. 8 September 2005. Retrieved 2 May 2016.
  29. ↑ "Doing away with one-sen coin payment". The Star. 14 November 2007. Archived from the original on 29 June 2009. Retrieved 14 November 2007.
  30. ↑ "BNM Rounding Mechanism". Bank Negara Malaysia. Retrieved 8 April 2008.
  31. 1 2 Giedroyc, Richard (14 December 2011). "Malaysia Names New Currency Producers". Archived from the original on 21 February 2015. Retrieved 7 January 2012.
  32. ↑ Bank Negara Malaysia (25 July 2011). "Issuance of Commemorative Coins for Malaysia's New Third Coins Series". Retrieved 4 October 2011.
  33. ↑ Linzmayer, Owen (2012). "Malaysia". The Banknote Book. San Francisco, CA: www.BanknoteNews.com.
  34. ↑ Bank Negara Malaysia (2007). "The Malaysian Currency : Circulation Notes – Past Series". Archived from the original on 17 April 2013. Retrieved 7 January 2012.
  35. ↑ BNM.gov.my Archived 17 January 2010 at WebCite
  36. 1 2 3 Bank Negara Malaysia (21 December 2007). "Bank Negara Malaysia Issues New Design for RM50 Banknote to Commemorate Malaysia's 50th Anniversary of Independence". Retrieved 7 January 2012.
  37. ↑ "Bank Negara Malaysia Issues New Design RM50 Banknote". Bank Negara Malaysia. 15 July 2009.
  38. ↑ Bank Negara Malaysia (23 May 2011). "Bank Negara Malaysia to Issue New Series of Banknotes and Coins". Retrieved 27 November 2011.
  39. ↑ Bank Negara Malaysia (21 December 2011). "Launch of Malaysia's New Currency Series". Retrieved 22 December 2011.
  40. ↑ Bank Negara Malaysia (21 December 2011). "Distinctively Malaysia – The Fourth Series of Malaysian Banknotes". Retrieved 22 December 2011.
  41. ↑ Malaysia new banknote family confirmed, to be issued 16 July 2012 BanknoteNews.com. 16 April 2012. Retrieved on 4 February 2013.
  42. ↑ Bank Negara Malaysia (28 December 2008). "The Kijang Emas Gold Bullion Coins". Archived from the original on 7 January 2012. Retrieved 7 January 2012.
Preceded by:
Malaya and British Borneo dollar
Reason: Currency Agreement
Ratio: at par, or 60 dollars = 7 British pounds		 Currency of Malaysia
1967 – 		Succeeded by:
Current
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