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RM10
Ten Malaysia Ringgit Currency Bank Notes
Explore our collection of meticulously crafted RM 10 bills that closely resemble genuine Malaysian banknotes. Purchase these affordable notes online; we have ample stock. The Malaysian Ringgit, widely used for transactions, is divided into 100 sen and issued by the Central Bank of Malaysia.
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The Malaysian Ringgit, also referred to as the Malaysian dollar, has been the official currency of the Malaysian Federation since June 1967. With the ISO 4217 code MYR and symbolized by RM, the Ringgit plays a vital role in Malaysia’s financial landscape. Buy RM 10 Bills Online to enhance your collection.
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Ringgit: Malaysia’s Currency
The ringgit, Malaysia’s official currency, is also called the Malaysian dollar and divides into 100 sen. The Central Bank of Malaysia (Bank Negara Malaysia) exclusively issues banknotes and coins. Coins range from 5 to 50 sen, while banknotes come in denominations of 1 to 100 ringgit.
Each colorful bill features Tuanku Abdul Rahman, Malaysia’s first Yang di-Pertuan Agong, on the front. The back of most bills showcases elements of Malaysian culture, nature, and achievements. For example, the 5-ringgit note displays the rhinoceros hornbill, the 10-ringgit note highlights the Rafflesia azlanii flower, and the 50-ringgit note depicts an oil palm, a vital export for palm oil.
The ringgit became Malaysia’s official currency in 1946, replacing the colonial Straits Settlement dollar.
Ringgit’s Etymology: A Historical Perspective
Before independence
The Spanish-American silver dollar brought over by the Manila galleons was the primary currency for international trade, used in Asia and the Americas from the 16th to 19th centuries; it was eventually called the ringgit. The various dollars introduced in the 19th century were itself derived from the Spanish dollar: the Straits dollar, Sarawak dollar and the British North Borneo dollar. From these dollars were derived their successor currencies the Malayan dollar and the Malaya and British Borneo dollar, and eventually the modern-day Malaysian ringgit, Singapore dollar and Brunei dollar.
After independence (1967–1997)
On 12 June 1967, the Malaysian dollar, issued by the Central Bank of Malaysia, replaced the Malaya and British Borneo dollar at par. The new currency maintained all denominations except the $10,000 note and retained the old dollar’s color schemes. Over subsequent decades, minor changes occurred, including the introduction of the M$1 coin in 1967 and the demonetization of RM500 and RM1,000 notes in 1999.
Initially valued at 84⁄7 dollars per British pound (with £1 equaling US$2.80), the Malaysian dollar faced challenges after the pound’s 14.3% devaluation in November 1967, which undermined confidence in the sterling area, leading to its demise in 1972. The Malaysian dollar remained pegged to the U.S. dollar at US$1 = M$3.06, though earlier notes of the Malaya and British Borneo dollar were devalued to 85 cents per dollar.
Despite new currencies in Malaysia, Singapore, and Brunei, the Interchangeability Agreement allowed the Malaysian dollar to exchange at par with the Singapore and Brunei dollars until 8 May 1973, when Malaysia withdrew from the agreement. The Monetary Authority of Singapore and the Brunei Currency and Monetary Board still maintain their currency interchangeability as of 2021.
In 1993, the currency symbol “RM” (Ringgit Malaysia) replaced the dollar sign “$” (or “M$”).
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