Ringgit?What do you know about it?

The new riles designed to take away the need for a one sen coin has put currency on our minds.Here are some interesting things you may not know about ringgit in your pocket.

The word ringgit means "jagged" in Malay and was originally used to refer to the serrated edge of silver Spanish dollars which circulated widely in the country.The Singaporean dollar and the Brunei dollar are also ringgit in Malay(although currencies such as th US and Australia dollars are dolar),hence its official abbreviation RM for Ringgit Malaysia.

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.In some parts of the country alternative words are still used.For example,in the northern states of Peninsular Malaysia,denominations of 10 sen are called kupang - so 50 sen is five kupang.

Until June 23,1973,the Malaysian dollar was exchangeable at par with the Singapore dollar and Brunei dollar.The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain the ex changeability of their two currencies.

April 2008,Bank Negara Malaysia announced that all transactions should be rounded to the nearest five sen.This mechanism applies to the total bill only.The reason is that the cost of producing one sen coins has exceeded their value.However,existing one sen coins in circulations remain legal tender for payments of up to two ringgit.

On December 7,2005,the RM1 coin was demonetised and withdrawn for circulation.This was partly due to problem with stardardisation (two different versions of the coin were minted) and forgery.

On the RM10(above) note the theme is Transportation.A close look will reveal a Putra LRT train,Malaysia Airlines aircraft and MISC ship (MISC is Malaysia's leading international shipping line).

All Malaysian banknotes carry the image of Tunku Abdul Rahman,the first Yang Di-Pertuan Agong of Malaysia.As the first king Tuanku Abdul Rahman believed strongly in parliamentary democracy - one of his most most memorable quotes was to foreign dignitary who complained about Prime Minister's "high handed" manner and wanted the King to sack him.To this,His Late Majesty replied"

Alas I can't sack him;he is elected by the people,and as Prime Minister of the country he can sack me!

Unusually,the five ringgit note is made of polymer.It depicts the Multimedia Super Corridor with images of Kuala Lumpur International Airport and the Petronas Twin Tower.

Mining is the theme for the RM50 note,hence the oil platform on its rear,while the biggest note of all,the RM100,is dedicated to heavy industry.An image of Proton's car production line works perfectly to show this.

The current bank notes are the third set of designs to be released.They were created designs in the spirit of Wawasan 2020,a vision introduced by the former Prime minister of Malaysia,Mahathir Bin Mohamad.The vision calls for a self-sufficient industrial,Malay-centric developed nation,complete with an economy by 2020.


The one ringgit note is devoted to tourism and includes images of Malaysia's highest mountain, Mount Kinabalu in Sabah which is 4,095m high,Mount Mulu,which is the second highest mountain in the state of Sarawak and a "Wau Bulan" kite.

The two ringgit note,which has been officially withdrawn but is still occasionally seen in circulation is devoted to telecommunications and boast pictures of the Menara Kuala Lumpur communications tower and the MEASAT satellite.

Three denominations of gold bullion coins have been released.Called the "Kijang Emas"(the kijang is a species of deer as well as the official logo of Bank Negara Malaysia) they have face values of RM50,RM100 and RM200,however,the purchase and reselling price of Kijang Emas is determined by the prevailing international gold market price.

In early 2008,the Bank released newly-designed RM50 banknote.The new note retains the predominant color of green-blue,but is designed in anew theme,dubbed the "National Mission", expressing the notion of Malaysia"[moving]" the economy up the value chain".

For more details:
Bank Negara Malaysia

Note:Those images not uploaded by me.