Bank Negara Malaysia (BNM) was established on 26 January 1959 and it is the sole issuer of Malaysian Ringgit. On 12 June 1967, the first Malaysian Ringgit issued to replace the Malaya and British Borneo dollar.
In 1993, the currency symbol “RM” (Ringgit Malaysia) was introduced to replace the use of the dollar sign “$”.
Since the first issuance, the value of gradually increase as Malaysian economy prospers. Do you know how much is printed Malaysian Ringgit Currency Note in circulation?
The table below show the total the of Malaysian Ringgit Note circulated in the economy since 1975 excluding RM500, RM1,000 notes and coins valued about RM2 billion.
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If someone or shop pass to you Dye-Stained Banknotes banknotes don’t accept it. Beware, the banknotes may come from banks or ATM machine’s robbery! We obviously don’t want to be implicated in any on these criminals.
Recently, due to sharp increase in ATM robberies in Malaysia, Bank Negara Malaysia (BNM) introduced Currency Protection Device (CPD) to deter ATM robberies.
CPD will emit a bright-colored dye ink (using either smoke and/or liquid dye or any other agent) to stain banknotes in the event the ATMs/CDMs are attacked.
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On 21st December 2011, Bank Negara had officially launched the new 2012 currency series of Banknotes. The news regarding the new 2012 banknotes and coins was out since May 2011.
The newly designed banknotes are issued in the denominations of RM1, RM5, RM10, RM20 and RM100 and will be available for circulation starting in the second half of 2012. RM20 note is making a comeback after removal from the circulation a few years ago.
The RM50 denomination banknote for the new currency series is already in circulation. The new series featuring polymer substrate materials for the RM1 and RM5 banknotes.
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Bank Negara Malaysia (BNM) will issues a new series of Malaysian banknotes and coins and it will be circulated in early 2012. The issuance of new design is a normal exercise where it is to be taken every twelve years.
The theme of the design of the new currency series will include features that are distinctively Malaysia and will include enhanced security elements due to advancements in technology for currency notes.
The issuance of new banknotes is the fourth series, design of banknotes. It will come in the denomination of RM1, RM5, RM10, RM20 and RM100.
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At the Monetary Policy Committee (MPC) meeting on 5th May 2011, Bank Negara Malaysia decided to raise the Overnight Policy Rate (OPR) by 25 basis points to 3.00 percent with immediate effect. The floor and ceiling rates of the corridor for the OPR are correspondingly raised to 2.75 percent and 3.25 percent respectively.
Following this, banks will Base Lending Rate (BLR) & Base Financing Rate (BFR) later. For those who have variable loans specially home loan, will have to pay more in their monthly installment. On the positive side, the increase also will raise the current fixed deposit rate. For the latest BLR & BFR rate kindly refer to Rate Page.
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