the Malaysian Ringgit ( RM) is the official currency of the federal states of Malaysia. the malysian currency was named the Malaysian Dollar before 1975 and since then, the Ringgit (which means jagged in bahasa malaysia) was adopted as the Name of the currency. The malaysian riggit comes at RM 1, RM 5, RM 10, RM 20, RM 50, RM 100, RM 500, and RM1000 denominations and for the coins, they are at 1 sen, 5 sen, 10 sen, 20 sen, 50 sen and finally the 1 ringgit coin.
Present exchange rate for 1 US Dollar is 3 Malaysian Ringgit.
other major currencies like the euro, british pound, singapore dollar, thai baht, philippine peso, Hong Kong Dollar and others can be exchanged for the Ringgit.
The ringgit is the currency of Malaysia and is also known as the Malaysian dollar. 1 dollar equals 100 cents. You can change money and travellers cheques at banks and moneychangers. Hotels which can change money are not usually as good on their rates as banks. Credit cards are usually accepted in hotels and department stores. Cash however, is needed in the rural areas.
Banks are usually open from 10 a.m. up to 3 p.m. from Monday to Friday and 9.30 a.m. up to 11.30 a.m. on Saturdays.
You will need plenty of ringits, because there are endless oportunities to spend them.
All major credit cards are accepted at hotels and shops, but only cash is accepted at small street vendors, chinatown market,....