MYR (Malaysian Ringgit)

DEFINITION of 'MYR (Malaysian Ringgit)'

The currency abbreviation for the Malaysian ringgit (MYR), the currency for Malaysia. The Malaysian ringgit is made up of 100 sen and is often presented with the symbol RM. The ringgit is often unofficially referred to as the Malaysian dollar.

BREAKING DOWN 'MYR (Malaysian Ringgit)'

The Malaysian dollar replaced the Malaya and British Borneo dollar in June of 1967 at par. This new currency was officially referred to in "dollars" and "cents" until August of 1975, when the official name was changed to "ringgit" and "sen". In English use, the currency is still referred to in its previous form, and in the Malay language, the new form is often used. It is common for both forms to be used throughout the country.

RELATED TERMS
  1. SGD (Singapore Dollar)

    The currency abbreviation for the Singapore dollar (SGD), the ...
  2. Khazanah Nasional Berhad

    The Khazanah Nasional is a government-owned investment organization ...
  3. BND (Brunei Dollar)

    The currency abbreviation, or currency symbol, for the Brunei ...
  4. JPY

    The currency abbreviation or the currency symbol for the Japanese ...
  5. JPY (Japanese Yen)

    The currency abbreviation or the currency symbol for the Japanese ...
  6. USD (United States Dollar)

    The currency abbreviation for the United States dollar (USD), ...
Related Articles
  1. Entrepreneurship & Small Business

    With the Birth of a Unicorn, Malaysia Becomes Hotspot for Tech Startups

    Thanks to increased funding and support from venture capitalists and the government, Malaysia witnessed the development of its first unicorn. GrabTaxi, an e-hailing app which is also inspiring ...
  2. Retirement

    5 Reasons Why Americans Retire in Malaysia

    Understand why Americans are deciding to retire internationally. Learn about the top five reasons why Americans are retiring to Malaysia.
  3. Trading

    Goldman Sachs Says Asian Currencies Set to Decline (GS)

    After Asian currencies rallied more in a month than in the past seven years, Goldman Sachs Group Inc. (GS) has called a top and are recommending selling the currencies.
  4. Retirement

    8 Countries Where $200K in Retirement Savings Will Last 30 Years

    Retiring on $200,000 may seem like a longshot, but there are several countries that are perfect for living out your later years on a smaller budget.
  5. Personal Finance

    Did Dirty Money Fund "The Wolf of Wall Street"?

    In a sublime case of art imitating life – or the other way around – the Wall Street Journal has alleged that production of "The Wolf of Wall Street" was funded by dirty money, specifically funds ...
  6. ETFs & Mutual Funds

    Invest in Emerging Market Currencies with this ETF

    Why this emerging market currency ETF needs to be on your radar.
  7. Retirement

    Can You Retire In Malaysia With $200,000?

    A low cost of living, street food fit for foodies and unspoiled rainforest and beaches are just a few of the reasons Malaysia is worth looking at as a retirement destination.
  8. Retirement

    Budgeting Tips: Living in Malaysia on $1,000 a Month

    Learn more about how far a $1,000 monthly budget stretches in Malaysia, a beautiful and inviting tropical paradise in the heart of Southeast Asia.
  9. Trading

    The U.S. Dollar's Unofficial Status as World Currency

    Discover how and why the U.S. dollar emerged as official currency in many foreign countries.
  10. Markets

    The 10 Riskiest Emerging Market Economies

    Consider some key facts about 10 of the world's most economically vulnerable emerging market economies, a group facing considerable economic pressure in 2016.
RELATED FAQS
  1. What types of investments are allowed in a provident fund?

    Read about the types of investments allowed in various provident funds around the world, including the Indian, Malaysian ... Read Answer >>
  2. Is Malaysia a developed country?

    Learn why Malaysia, as of 2015, is not considered a developed country despite having a relatively high level of industrialization. Read Answer >>
  3. Why is the U.S. dollar shown on the top of some currency pairs and on the bottom ...

    All currencies are traded in pairs. The first currency in the pair is called the base currency while the second is called ... Read Answer >>
  4. Why is currency always quoted in pairs?

    When reading currency quotes, you have probably noticed that there is only a single quote for a pair of currencies. Currency ... Read Answer >>
  5. Why isn't the EUR/USD currency pair quoted as USD/EUR?

    In a currency pair, the first currency in the pair is called the base currency and the second is called the quote currency. ... Read Answer >>
  6. What do the terms weak dollar and strong dollar mean?

    The two terms, weak dollar and strong dollar, are generalizations used in the foreign exchange market to describe the relative ... Read Answer >>
Hot Definitions
  1. Dove

    An economic policy advisor who promotes monetary policies that involve the maintenance of low interest rates, believing that ...
  2. Cyclical Stock

    An equity security whose price is affected by ups and downs in the overall economy. Cyclical stocks typically relate to companies ...
  3. Front Running

    The unethical practice of a broker trading an equity based on information from the analyst department before his or her clients ...
  4. After-Hours Trading - AHT

    Trading after regular trading hours on the major exchanges. The increasing popularity of electronic communication networks ...
  5. Omnibus Account

    An account between two futures merchants (brokers). It involves the transaction of individual accounts which are combined ...
  6. Weighted Average Life - WAL

    The average number of years for which each dollar of unpaid principal on a loan or mortgage remains outstanding. Once calculated, ...
Trading Center