Historic Malaysian ringgit South African rand

Malaysian ringgit south african rand history for March 2024. The highest quote for this month is 4.0562 (01/03/2024) and the lowest 4.0246 (04/03/2024). The difference between high and low is 0.78.

MYR ZAR average rate for March 2024 is 4.00173, the change between 01/03/2024 and 31/03/2024 is +1.66 %.

01 March 20241 MYR = 4.045 ZAR
03 March 20241 MYR = 4.024 ZAR
04 March 20241 MYR = 4.022 ZAR
05 March 20241 MYR = 4.031 ZAR
06 March 20241 MYR = 4.002 ZAR
07 March 20241 MYR = 3.969 ZAR
08 March 20241 MYR = 3.946 ZAR
09 March 20241 MYR = 3.991 ZAR
10 March 20241 MYR = 3.996 ZAR
11 March 20241 MYR = 4.015 ZAR
12 March 20241 MYR = 3.978 ZAR

23/03/2020: COVID-19 Pandemic Impact

The rand experienced significant volatility and depreciation as a result of the COVID-19 pandemic, affecting the country's economy and trade balance.

18/03/2020: COVID-19 Pandemic Impact

The COVID-19 pandemic caused a sharp decline in the value of the ringgit, as global markets experienced volatility and economic slowdown.

12/08/2015: Ringgit Depreciation

The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.

15/12/2008: Global Financial Crisis Impact

The rand plunged against major currencies due to the global financial crisis and concerns about South Africa's economic stability.

21/07/2005: Removal of Currency Peg

The Malaysian government removed the fixed exchange rate peg to the US dollar, allowing the ringgit to float freely based on market forces.

09/11/2001: Rand Weakens to Record Low

The rand weakened to an all-time low against the US dollar, due to global economic uncertainty and domestic political concerns.

02/07/1997: Asian Financial Crisis

The Malaysian ringgit was heavily affected by the Asian financial crisis, leading to a currency devaluation and introduction of capital controls.

01/01/1995: Establishment of Reserve Bank Independence

The South African Reserve Bank gained independence, allowing it to have more control over monetary policy.

27/04/1994: First Democratic Elections

The first democratic elections were held in South Africa, marking the end of apartheid and bringing political stability, positively affecting the rand's value.

12/06/1985: Currency Pegged to the US Dollar

The Malaysian ringgit was pegged to the US dollar at a fixed exchange rate of RM2.50 per USD to stabilize the economy.

01/08/1982: Currency Decimalization

The rand was decimalized, with 1 rand being equal to 100 cents.

29/08/1975: Change to Malaysian Ringgit

The Malaysian dollar was renamed as the Malaysian ringgit, with the currency symbol RM, to reflect the country's independence and identity.

12/06/1967: Introduction of the Malaysian Dollar

The Malaysian dollar was introduced as the official currency of Malaysia, replacing the Malaya and British Borneo dollar.

14/09/1961: Introduction of the Rand

The South African rand was introduced as the official currency, replacing the South African pound.