| FAQs on The Malaysian Currency |
| |
 |
Where does BNM print its currency banknotes? |
 |
|
-
-
|
|
| |
|
| Malaysian banknotes are printed overseas by reputable banknote printers. |
|
|
|
|
|
|
|
|
|
| |
What is the purpose of issuing commemorative coins and banknotes? |
|
|
-
-
|
|
| |
|
| BNM issues commemorative coins and notes to commemorate internationally and nationally significant events. They are also issued to encourage the hobby of collecting notes and coins. |
|
|
|
|
|
|
|
|
|
| |
Why did BNM reintroduce the RM1 currency banknote? |
|
|
-
-
|
|
| |
|
The new RM1 currency banknote was reintroduced into circulation in response to public demand. The RM1 banknote is also easier to handle compared with the RM1 coin, which is heavy and tends to tarnish easily.
|
|
|
|
|
|
|
|
|
|
|
Is it legal for a shopkeeper to refuse 1 sen or 5 sen coins as part payment for goods and services? |
|
|
-
-
|
|
| |
|
| Section 24, Central Bank of Malaysia Act 1958 allows 1 sen, 5 sen, 10 sen and 20 sen to be used as legal tender up to RM2. RM1 and 50 sen coins can be used to make payments of up to RM10. |
|
|
|
|
|
|
|
|
|
| |
How can I differentiate between genuine and counterfeit banknotes? |
|
|
-
-
|
|
| |
|
| There are a few main security features that you can look out for namely: |
| |
 |
Quality of The Paper |
| |
Genuine banknotes are printed on very high quality paper. It has a unique feel, slightly rough to touch and has a crisp sound when crunched. |
| |
|
|
The Watermark Portrait |
| |
There is a three-dimensional watermark portrait of the First Yang di-Pertuan Agong which appears soft and shady without sharp outlines. |
| |
|
|
The Security Thread |
| |
The genuine banknote have a security thread embedded in the paper. |
| |
|
|
The Intaglio Printing / Feel The Paper |
| |
The printed image is readily recognizable to the general public and it gives banknotes their unique feel, crisp, not limp, waxy or shiny and some of the lettering will feel rough to the touch. |
|
|
|
|
|
|
|
|
|
|
| |
Can I get a replacement if I discover counterfeit banknotes? |
|
|
-
-
|
|
| |
|
| No. There is no value for counterfeit banknotes. |
|
|
|
|
|
|
|
|
|
| |
Why did BNM take the RM500 and RM1000 banknote out of circulation? |
|
|
-
-
|
|
| |
|
| BNM has taken out the RM500 and RM1000 notes from circulation and withdrawn their legal tender status ("demonetised") to complement the exchange control measures introduced in 1998. |
|
|
|
|
|
|
|
|
|
|
Can I still exchange RM500 and RM1000 banknotes into those with a smaller denomination? |
|
|
-
-
|
|
| |
|
| Yes. You can still exchange the RM500 and RM1000 at any BNM branch. |
|
|
|
|
|
|
|
|
|
|
Is there a penalty for reproduction of the Malaysian currency without BNM's approval? |
|
|
-
-
|
|
| |
|
| Yes. The penalty for reproduction of the Malaysian currency banknotes and coins without prior approval from BNM is a fine not exceeding RM5,000. |
|
|
|
|
|
|
|
|
|
| |
Where can I exchange mutilated banknotes? |
|
|
-
-
|
|
| |
|
| You can exchange mutilated Malaysian currency banknotes at any of the six BNM branches located at Kuala Lumpur, Pulau Pinang, Johor Bahru, Kuala Terengganu, Kota Kinabalu and Kuching as well as from any of the branches of commercial banks and islamic banks. |
|
|
|
|
|
|
|
|
|
| |
Can I exchange new banknotes and coins at BNM branches? |
|
|
-
-
|
|
| |
|
| BNM has stopped the service of exchanging new banknotes and coins since 1997. You can exchange new banknotes and coins at your banking institution. |
|
|
|
|
|
|
|
|
|
| |
Can I exchange foreign currencies at BNM? |
|
|
-
-
|
|
| |
|
| No. You can exchange foreign currencies at any commercial bank or licensed money changer. |
|
|
|
|
|
|
|
|
|
