Why is the Ringgit called the Ringgit? :

The Malaysian currency is called a unique name that is different from the 'Dollar' name that a lot of countries use. It is called the 'Ringgit' and it's currency code is 'MYR'. The name means  'jagged' in the Malay language which referred to the serrated edge of Spanish notes that were circulated in the country back then.

The currency is issued by the national bank of Malaysia called Bank Negara Malaysia. The abbreviation for the currency is coded as 'RM' which signifies 'Ringgit Malaysia'. It's history dates back to June 2, 1967; where Bank Negara Malaysia issued the notes to replace the Malaya and British Borneo dollar on par.

The denominations currently as of 2016 are 1, 5, 10, 20, 50, 100 Ringgit notes. The images below are a specimen of how they look like.

The coins are called 'Sen' in Malay or 'Cents' in English. The coins are denominated to be  5, 10, 20, 50 cents. These can be counted to be 10 sen = 1/10 of 1 Ringgit.

After the issuing of the notes back in 1967, Malaysia adopted a free-floating currency trading policy abut 2.50 compared to the US Dollar. The Ringgit has devalued from 2.50 to 3.80 on the exchange trades by the end of 1997. The currency has continued to devalue until this day and has fluctuate unstably for quite while. 

Currently, the median exchange rate is 1 USD to 4 MYR and 1 EURO to 4.5 MYR. That being said, we hope that these information will help anyone heading to the Malaysia for holidays. Be sure to have your notes exchanged before your trip but no worries if you fail to do so on a sudden trip as the international airports do accept a variety of currencies. Till next time, safe travels eveyone!!