|
 |
| Malaysia
Currency |
 |
|
Ringgit (RM) = 100
sen. Notes are printed in denominations of RM1,000, 500, 100, 50,
10, 5, 2 and 1. The RM1,000 and RM500 notes are being phased out.
Coins are in denominations of RM1, and 50, 20, 10, 5 and 1 sen.
There are also a number of commemorative coins in different denominations,
which are legal tender. The Ringgit is also referred to as the Malaysian
Dollar.
Currency exchange
The favoured exchange currency is the British Pound (GBP), but US
Dollars (USD) are widely accepted. The major currencies are exchanged
easily in the main tourist centres though problems can probably happen elsewhere.
Outside of Malaysia,
Indonesia or Singapore, it is hard to exchange Malaysian money and all tourists need to fill in a Travelers
Declaration Form (TDF); see Currency restrictions below.
Credit and debit cards
American Express, Diner's Club, MasterCard and Visa are widely accepted.
For information of acceptability
and other services, contact your credit or debit card company.
Traveller’s
cheques
All banks, hotels and large department stores accept traveller's cheques.
To avoid exchange rate charges, carry travellers cheques in Australian Dollars, US Dollars or Pounds
Sterling.
Exchange
rate indicators
The following is included as a guide to the movements of the Ringgit
against Sterling and the US Dollar: |
|
| |
| Date |
Oct'07 |
| £1.00= |
6.88223
|
| $1.00= |
3.35840 |
|
|
|
|
Currency
restrictions
When entering Malaysia, tourists which include children must declare
all amounts over RM1,000 in their possession (local and equivalent
in foreign currencies) on a Travelers Declaration Form (TDF). These
forms can be found at the airport or Malaysian embassies, high
commissions and tourist offices. When departing, the TDF has to
be filled in before clearing immigration.
The import and export of Malaysian currency is limited to RM1,000.
The import of foreign currency is not limited and the export of foreign
currency is limited only to the amount imported on arrival.
Banking hours
Mon-Fri: 9.30 am - 3.00 pm; Sat: 9.30 - 11.30 am.
Banks in Sabah are open at 8.00 am and break for lunch from noon - 2.00 pm. |
|
|
|
