Wanderlust World Wanderlust World The Malaysian Ringgit (MYR), colloquially "ringgit," is Malaysia's official currency. The name derives from the serrated edges of Spanish silver dollars once used in the region. Issued by the Central Bank of Malaysia, it is divided into 100 sen (cents). Before 1975 it was called the Malaysian dollar; the rename reflected cultural identity.
The ringgit is freely convertible, widely traded, and used as a reserve currency by some nations. Its exchange rate is managed against a basket of currencies (USD, EUR, JPY, GBP) and has remained relatively stable, even through global crises. Malaysia's growing economy supports expectations of continued strength.