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What is the Currency of Malaysia? Information on Malaysian Ringgit!

by Financial Economy

Malaysia is a country located in South East Asia. Malaysia’s population is approximately 33 million people. Malaysia is doing well with its per capita income level. Malaysia’s per capita income is over 30 thousand dollars. The minimum wage in Malaysia is around 370 dollars. Information about the Malaysian currency “Malaysian Ringgit” is in the rest of the article. For information about Monaca currency, you can browse here.

What is the currency of Malaysia?

The official currency of Malaysia is listed as “Ringgit” and is referred to as “Ringgit Malaysia” in the local language. Malaysian currency is used colloquially in the form of “ringgit” only. It also has a wide range of uses as Malaysian Dollars. The code or abbreviation for Malaysian Ringgit is “MYR”. The symbol of Malaysian Ringgit is recorded as RM. The Malaysian Ringgit subunit is “sen”. 100 sen is equivalent to 1 Malaysian Ringgit.

As of 01.03.2021 (under the current exchange rate) 1 Ringgit equals USD 0.25. 5 years ago, 1 Ringgit was worth $ 0.30. Therefore, we can say that in the past 5 years, Malaysian currency has lost value against the dollar. One Malaysian Ringgit at current exchange rate is equivalent to 0.20 Euros. 5 years ago, 1 Ringgit was worth 0.23 Euros. In the last 5 years, the Malaysian currency has become devalued against the Euro.

Malaysian Ringgit banknotes and coins!

Malaysian currency banknotes are as follows:

  • 1 Malaysian Ringgit (The smallest Malaysian coin is banknote)
  • 2 Malaysian Ringgit
  • 5 Malaysian Ringgit
  • 10 Malaysian Ringgit
  • 20 Malaysian Ringgit
  • 50 Malaysian Ringgit
  • 60 Malaysian Ringgit
  • 100 Malaysian Ringgit
  • 600 Malaysian Ringgit (The largest Malaysian currency is banknote)

The types of Malaysian coins are as follows:

  • 5 Malaysia Sen
  • 10 Malaysia Sen
  • 20 Malaysia Sen
  • 50 Malaysia Sen

For details: https://en.wikipedia.org/wiki/Malaysian_ringgit

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