Malaysian banknote
Welcome to my blog. Today, let me share with you the history of Malaysia banknote.
You may be wondering why Malaysia banknote besides other banknotes out there?
This is because, I am very familiar with the currency and I grew up using them.
You may be wondering why Malaysia banknote besides other banknotes out there?
This is because, I am very familiar with the currency and I grew up using them.
Malaysian Ringgit, in short terms MYR is the currency code issued by Bank Negara
Malaysia which is Malaysia’s national bank. The common term “RM” which was found
on the 3rd series and 4th series of the banknotes stands for “Ringgit Malaysia”.
The name ringgit means “jagged” in Malay and it was initially used to refer to the sawtooth
edges of the silver Spanish dollars which were being used as a currency back in the
Portuguese colonial era in the 16th and 17th century.
Malaysia which is Malaysia’s national bank. The common term “RM” which was found
on the 3rd series and 4th series of the banknotes stands for “Ringgit Malaysia”.
The name ringgit means “jagged” in Malay and it was initially used to refer to the sawtooth
edges of the silver Spanish dollars which were being used as a currency back in the
Portuguese colonial era in the 16th and 17th century.
The first series of banknote of Malaysia were issued on 12th of June 1967 to replace
Malaya and British dollar which was previously use before independence day.
The denominations issued at that time were 1$, 5$, 10$, 50$ and 100$. 1000$ banknote
was issued in September 1968 and the 500$ banknote was introduced in mid of 1982.
The 500$ and 1000$ banknote were then withdraw from circulation in 1998 due to the
risks of money laundering and the underestimated effects of the financial crisis.
Malaya and British dollar which was previously use before independence day.
The denominations issued at that time were 1$, 5$, 10$, 50$ and 100$. 1000$ banknote
was issued in September 1968 and the 500$ banknote was introduced in mid of 1982.
The 500$ and 1000$ banknote were then withdraw from circulation in 1998 due to the
risks of money laundering and the underestimated effects of the financial crisis.
1st series Malaysian banknote
2nd series Malaysian banknote
3rd series Malaysian banknote
4th series Malaysian banknote
The term “$” which was use initially were replaced with the term “RM” in the 3rd series of
Malaysia banknote which were issued in 1996. Over the period from 1967 to present, there
were 4 series of banknotes issued with various governor signatures.
Malaysia banknote which were issued in 1996. Over the period from 1967 to present, there
were 4 series of banknotes issued with various governor signatures.
In the beginning, there was an agreement between Singapore, Brunei and Malaysia
regarding about the interchangeability of their currencies. The interchangeability of the
currencies happen until 8th of May 1973 before Malaysia broke off from this agreement where
Malaysia ringgit is no longer exchangeable with Singapore and Brunei at 1:1. Until today,
Singapore and Brunei exchange rate is 1:1, whereas Malaysia ringgit to Singapore dollar is
about 3:1.
regarding about the interchangeability of their currencies. The interchangeability of the
currencies happen until 8th of May 1973 before Malaysia broke off from this agreement where
Malaysia ringgit is no longer exchangeable with Singapore and Brunei at 1:1. Until today,
Singapore and Brunei exchange rate is 1:1, whereas Malaysia ringgit to Singapore dollar is
about 3:1.
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