What is the currency of Malaysia?

The currency of Malaysia is the Malaysian ringgit.

The modern ringgit was introduced on 12 June 1967 by Malaysia’s new central bank, replacing the Malaya and British Borneo dollar. It is divided into 100 sen, and its international currency code is MYR. Malaysian banknotes and prices commonly use the symbol RM, short for Ringgit Malaysia.

The word ringgit means “jagged” in Malay. It originally referred to the serrated or irregular edges of Spanish silver coins that circulated widely through Southeast Asia. Those older Spanish dollars influenced several regional currencies, including the historical currencies that eventually developed into the Malaysian ringgit, Singapore dollar and Brunei dollar.

Malaysia’s currency is sometimes confused with the Singapore dollar or Brunei dollar because all three share historical roots and are called ringgit in some Malay contexts. In modern English usage, however, ringgit specifically identifies Malaysia’s currency. The official names ringgit and sen replaced “dollar” and “cents” in Malaysian usage in 1975.