It is an official currency of Malaysia with currency code MYR and symbol RM. It is subdivided into 100 sen. The Central Bank of Malaysia is an issuing authority of currency. Before introduction of Malaysia Ringgits, the Malaysia dollar was an official currency of Malaysia. In 1967, Malaysia dollar was issued by the Central Bank of Malaysia by replacing the British Borneo dollar and Malaya. In 1993, the currency symbol RM was announced to interchange the use of dollar sign M$ or $.
In 1967, the first series of Malaysia Ringgits coins was introduced in denominations of 1, 5, 10, 20 and 50 sen. The coin of 1 ringgit was introduced in 1971. The first series of sen coins was identical to coins of two previous currencies, the Malaya and British Borneo dollar. The second series of sen coin was introduced in 1989, but precious coins remained legal tender until 2019. The 3rd series was announced on 25th July 2011, but released on 16th January 2012. The first series of banknotes was announced on 6th June 1976 in denominations of $1, $5, $10, $50 and $100, the banknote of $1000 was released on 2nd September 1968. The 2nd series of Malaysia Ringgits banknotes was announced on in 1982, 3rd series was announced in 1996 in denominations of RM1, RM2, RM5, RM10, RM50 and RM100.
Recently banknotes and coins of Malaysian economy include:
Banknotes RM1, RM5, RM10, RM20, RM50, RM100
Rarely used coins RM2, RM60, RM600 and 5, 10, 20, 50 sen