The currency of Malaysia is the Malaysian Ringgit, abbreviated as MYR. The symbol for the ringgit is RM. The ringgit has been the official currency since 1975, replacing the Malayan dollar. One ringgit is subdivided into 100 sen. The Malaysian currency plays a crucial role in the country’s economy, which is characterized by a mix of manufacturing, agriculture, and services. The value of the ringgit can fluctuate based on various factors, including exchange rates, economic conditions, and government policies. The central bank, Bank Negara Malaysia, manages the monetary policy related to the ringgit.