Ringgit


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Ringgit

The currency of Malaysia. It was issued in 1967 as the Malaysian dollar, though it was called the ringgit in Malay. The name ringgit was used in both languages starting in 1975. It was pegged to the U.S. dollar between 1998 and 2005 as a result of the East Asian financial crisis. In 2005 it became a currency with a managed float.
References in periodicals archive ?
The governor also announced new measures to boost liquidity in the onshore ringgit market and the measures include extending the short selling framework to include Malaysian Government Investment Issue, expanding eligible collateral for banks' liquidity operations and introducing Bank Negara Interbank Bills (BNIBs) in ringgit and foreign currencies.
They will usually be paid in local currencies so when there is depreciation in the ringgit, they will effectively be getting a cut,' Malaya said.
The ringgit has fallen nearly 20 percent this year due in part to weak global oil prices.
The doctor will also pay another 25,000 ringgit to cover litigation costs.
In December 2010, NBAD issued its second 500 million ringgit, which will mature in 2020.
As for the size of private-sector investments, they have expanded to 94 billion ringgit, in comparison to expected figures of 83 billion ringgit, Jala said.
National Bank of Abu Dhabi and Abu Dhabi Commercial Bank have both issued in ringgit previously, in response to high demand from Malaysian investors looking to gain international exposure in local currency.
An extra 100 million Ringgit over the Malaysian Education Ministry's approved allocation, has been provided for the development of Tamil schools.
Primarily from Malaysian investors; the Malaysian buy-side clearly has ringgit exposure, which is why we launched the ringgit index, but there is also non- ringgit exposure and investors need a benchmark for that.
By the end of the year, we anticipate sales of the dinars and dirhams to hit 60 to 70 million ringgit," he said.
Proton's return to the black was partly helped by a 194 million ringgit research and development grant it received from the government in the last quarter, which the company booked under ''other operating income.
This is not to say that the ringgit is guaranteed not to suffer bouts of volatility as the market adjusts to the new trading arrangement, but the Central Bank has the will and the wherewithal to fight off any speculative attack.