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.
16/12/2016: Demonetization of 50 Rupee Note
The 50 Rupee banknote was demonetized, leading to widespread confusion and inconvenience as people rushed to exchange their old notes.
12/08/2015: Ringgit Depreciation
The Malaysian ringgit experienced a significant depreciation against major currencies due to falling oil prices and global economic uncertainties.
01/01/2010: Decimalization of Rupee
The Rupee was decimalized, with the introduction of coins denominated in cents, replacing the previous system of cents represented as a fraction of a Rupee.
17/08/2005: Series of New Banknotes
A new series of banknotes featuring improved security features and a more vibrant design was introduced to combat counterfeiting.
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.
01/06/2001: Introduction of 10 Rupee Coin
The 10 Rupee coin was introduced, replacing the 10 Rupee banknotes, to reduce the cost of production and improve durability.
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.
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.
01/07/1977: Floating Exchange Rate
Sri Lanka shifted to a floating exchange rate regime, allowing the value of the Rupee to fluctuate based on market forces.
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.
22/05/1972: Ceylon becomes Sri Lanka
The country changes its name from Ceylon to Sri Lanka, and the currency is renamed Sri Lankan Rupee (LKR).
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.
22/06/1966: Introduction of the Ceylon Rupee
The Ceylon Rupee was established as the official currency of Sri Lanka, replacing the Indian Rupee at a rate of 1:2.