This article would give an insight into the Malaysian currency system.
The Central Bank of Malaysia was established on 26 January 1959 under the Central Bank of Malaysia Act 1958 (Revised -1994). It is a statutory body wholly owned by the Government of Malaysia with the paid-up capital progressively increased, currently at Ringgit Malaysia (RM) 100 million. The Bank reports to the Minister of Finance, Malaysia and keeps the Minister informed of matters pertaining to monetary and financial sector policies.
The Various Denominators in Malaysia:
RM50 banknote is the second highest denomination in a new design Malaysian banknotes series (4th Series).It would be replacing the existing series in stages. It retains the predominant color of green-blue. The main theme of the design is the National Mission where the first thrust is "to move the economy up the value chain". It reflects Malaysia's economic transformation to the higher value added activities in the agriculture, manufacturing and services sectors.
Bank Negara Malaysia is reintroducing the new RM1 note, the sixth denomination issued in the new design Malaysian currency notes series (3rd series). The new RM 1 note will incorporate the latest security features to deter counterfeiting.
Bank Negara Malaysia is issuing a new RM2 note, the lowest denomination in a completely new design Malaysian currency notes series. The new series incorporate new security features and retain some of the existing security features to deter counterfeiting. The theme of the new series, "Wawasan 2020" reflects Malaysia's economic development and achievement towards a fully developed country.
The RM5 polymer banknote, issued for circulation by Bank Negara Malaysia from 26 October 2004, retains the existing design, colour, size and certain security features of the existing RM5 paper banknote. However, the polymer banknote is more durable and has unique security features when compared to existing paper banknote.
Bank Negara Malaysia is issuing an upgraded version of the RM10 denomination currency notes with an enhanced security feature. The upgraded RM10 currency note has an optical variable holographic strip on the obverse (similar to the strip used on RM50 and RM100 currency notes).
Basically, the upgraded RM10 currency note retains the existing design, color, security features and size. Except for the holographic strip, there is no significant change in the original design on the obverse and reverse of the upgraded RM10 currency note. They have been printed on the same material as in other circulating Malaysian currency notes.