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 ?
'If investor appetite towards risk reduces following this development, it could provide less buying demand for emerging market assets such as the ringgit,' he told Bernama.
Bilateral trade amounted to 3.3 billion ringgit last year, mainly in Malaysia's favor.
'Interest rate cut is seen as a way to keep the ringgit competitive against the US dollar.
A weaker ringgit makes palm oil cheaper for holders of foreign currencies.
Jewellery accounted for the biggest portion of the seizure - 12,000 pieces of jewellery that Singh said would cost 660 million to 880 million ringgit at retail prices.
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.
'The attractiveness of Malaysia as a labor partner has somehow been diminished because the ringgit depreciated significantly a few years ago.
"Our cash flow from our operations this year will not be able to cover the remaining capex and 16 billion ringgit dividend.
"However, the depreciation of the Malaysian ringgit remains a key concern as a large portion of AirAsia's X borrowings and operating costs are denominated in US dollars," it said.
The Malaysian ringgit is down 26 percent from a year earlier, breaching 4 ringgit to the dollar last month, it's weakest level in 17 years.
Seri Suniza to pay 200,000 ringgit in general damages and a further 80,000 ringgit for causing pain and suffering to 31-year-old Turkyyah Abdulrahman Al-Asiri.
Summary: Malaysian long-haul budget carrier AirAsia X has priced its initial public offering, or IPO, at 1.25 ringgit per share, raising 987.7 million ringgit ($308.8 million) for fleet expansion as it targets buoyant travel demand in the Asia-Pacific region.