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MALAYSIA (MYR) MALAYSIAN RINGGIT
The Malaysian ringgit may also be informally referred to as the Malaysian
dollar. It is divided into 100 sen (or cents). The international currency code
is MYR. This currency came into circulation in 1967, when it replaced the Malay
and Borneo pound. You will often see prices with the abbreviation RM.
Currently in circulation
The coins in circulation at present are the 5, 10, 20 and 50 sen coins. The Bank
Negara Malaysia issue the country’s banknotes and these come in the following
denominations: RM1, RM5, RM10, RM50 and RM100.
Exchange facilities and traveller’s cheques
If you are in the largest cities and most touristy areas, you will not encounter
any problems finding bureaux de change facilities. Banks regularly offer this
service, as do a number of other foreign exchange bureaux. However, be warned if
you are heading to a more remote part of the country, as it is an entirely
different story here. Take what currency you need before travelling. It is the
same case with traveller’s cheques. Ideal for use in the largest establishments
of the biggest cities. Also, good in the tourist spots, but useless anywhere
else. US dollar and pound sterling traveller’s cheques will probably be your
best bet in Malaysia.
Using credit/debit cards
As above really, you should not have too many problems spending credit cards
which bear the major card names in places like Kuala Lumpur and other large
cities. However, do not rely on them outside of the large cities and tourist
areas. There are ATM machines in all major towns and cities although you may
struggle with some types of cards.
Restrictions
There are no restrictions for bringing local currency into Malaysia, but you are
only entitled to export a maximum of RM 5,000. For foreign currencies there are
no restrictions except on Indian currency, where you may only bring in a maximum
of 270 INR, and with Indonesian currency, where you may only bring in IDR 3,000.
For exporting foreign currency, you are only entitled to take out a maximum
equivalent of RM 5,000.
Malaysia: an overview
Malaysia is such a beautiful country. It occupies much of the southern part of
the Malay peninsula and the north of the island of Borneo, with Brunei pretty
much bang smack in the middle. From exquisite white sandy beaches to rain
forests that sport some truly amazing natural treasures and varied species,
Malaysia is one country where you would not be entitled to feel bored.
The most touristy areas of Malaysia are typically quite expensive. As are some
establishments in the capital, Kuala Lumpur. Apart from that, if you intend to
travel to some of the more remote parts of the country, all prices are very
reasonable and even bargains compared with European prices.
