Friday, April 25, 2008

Malaysia Currency - Ringgit Malaysia (RM)

Malaysians are using Ringgit and Sen as their currency. Ringgit in Malay language means “jagged” and was originally used to refer to the serrated edges of silver Spanish dollars which was widely circulated in Malay peninsular before independence. One Ringgit is divided in 100 Sen.

1st Series with double strokes $ sign

In fact, when Bank Negara Malaysia first issued its virgin banknote back in 1967 (1st Series), dollar sign $ with double strokes was adopted to represent Malaysian dollar. It was only at the later stage when 2nd Series was issued in 1982, the dollar sign had changed to the common $ which represents a monogram of U and S that actually reflect American dollar issued by United States Mint. Even though modification had been made back then by adding “M” letter in front of dollar sign $ i.e. M$ that carried the meaning of Malaysian dollar or ringgit, it was not reflected in the banknote that was issued by BNM.

2nd Series with Ringgit sign $

However, the 3rd Series of Malaysia banknotes that issued in 1996 have adopted the dollar sign of RM which is the abbreviation of Ringgit Malaysia. The RM has replaced the previous $ sign that been commonly used. Also, the 4th Series banknote has retained the RM sign in front of the face value.

3rd Series with RM represents Ringgit Malaysia