Malaysian Ringgit

The Malaysian ringgit is the currency of Malaysia. It is divided into 100 sen. The ringgit is issued by the Bank Negara Malaysia. The word "ringgit" is derived from the Malay word for "jagged", which refers to the serrated edges of silver Spanish dollars which were used in the area during the 16th and 17th century Portuguese colonial period. The first Malaysian currency was introduced in 1837, when the East India Company issued one- and two-cent notes. These were followed in 1839 by notes of the Bank of Bengal. Denominations issued in 1841 included 1⁄2, 1, 2, 3, 5, 10 and 15 cents. The first banknotes were issued by the Bank Negara Malaysia in 1946 in denominations of 1, 5, 10 and 50 cents and 1 and 5 ringgit.