MYR to TJS

MYR - Malaysian Ringgit (RM)

The Malaysian ringgit is the official currency of Malaysia. Its currency code is MYR and its symbol is RM. Its conversion factor has 6 significant digits, and it is a fiat currency. The ringgit is known globally to be a stable currency.

The Ringgit, unofficially called the Malaysian Dollar, has been Malaysia’s official currency since 1975. Malaysia replaced the Spanish silver dollar with the Indian Rupee in 1837. After 30 years the country decided to reintroduce the Spanish silver dollar. In 1903, Malaysia changed its currency to the Straits Dollar, which was pegged at two shillings to the British Pound.

The Malaysian Ringgit is the currency in Malaysia (MY, MYS). The symbol for MYR can be written RM. The Malaysian Ringgit is divided into 100 sen. The exchange rate for the Malaysian Ringgit was last updated on Today from The International Monetary Fund. The MYR conversion factor has 6 significant digits.

Economy

• Malaysia’s economy previously relied on the production of agricultural export commodities and minerals, but now it relies on manufacturing and services.
• There was a major change in Malaysia’s economy in the last decade, which affected most of their capital investments.
• Economic downturns in the last six years have severely damaged the country’s investments.

History

• On June 12, 1967, the Bank of Negara Malaysia, the central bank of Malaysia, issued the Malaysian Dollar to replace the British Borneo and Malayan Dollar at par.
• After it replaced the British Borneo Dollar, the Malaysian Dollar was originally valued at 8.57 dollars = 1 British Pound Sterling. Within the first 5 months, the Malaysian Dollar had decreased in value by 14.3%.
• From 1995 to 1997, the Ringgit was was trading as a free-float currency at around 2.50 to the US Dollar, before dropping to 3.80 to the Dollar by the end of 1997.
• The currency value fluctuated from 3.80 to 4.40 to the dollar before Bank Negara Malaysia pegged the Ringgit to the US Dollar in September 1998.
• As of September 4, 2008, the Ringgit still had not regained its value against the Singapore Dollar, Australian Dollar, the Euro, or the British Pound.

More information about MYR - Malaysian Ringgit (RM)

TJS - Tajikistani Somoni (TJS)

Tajikistani Somoni

The Somoni is the currency of Tajikistan. It is named after the father of the Tajik nation, Ismail Samani. The Somoni was put into circulation on October 30, 2000 to replace the Tajikistani Ruble at the rate of 1 Somoni = 1,000 Rubles. The Somoni is subdivided into 100 dirams.

The Tajikistan Somoni is the currency in Tajikistan (TJ, TJK). The Tajikistan Somoni is divided into 100 dirams. The exchange rate for the Tajikistan Somoni was last updated on May 24, 2019 from Yahoo Finance. The TJS conversion factor has 5 significant digits.

Economy

• The Tajikistani economy has been greatly weakened by six years of civil conflict and the resulting loss of markets for its products.
• Tajikistan depends on international humanitarian assistance for much of its basic subsistence needs. Even if the peace agreement of June 1997 is honored, the country faces major problems in integrating refugees and former military personnel into the economy.
• In 2006, the per capita GDP of Tajikistan was 85% of the 1990s level.
• The population has increased from 5.3 million in 1991 to 7.3 million in 2009.
• Despite resistance from vested interests, the government of Tajikistan has continued to pursue macroeconomic stabilization and structural reforms since 2000.

History

• Somoni banknotes in circulation are denominated in 1, 5, 20, and 50 dirams and 1, 5, 10, 20, 50, and 100 Somoni.
• The Somoni replaced the Tajikistani Ruble, which had been the currency since 1991.
• Since 2001, the exchange rate has remained relatively stable. In January 2007, 3.21 Somoni = 1 USD.
• From 2001–2003 Tajikistan’s inflation rates were 33 percent, 12.2 percent, and 16.3 percent, respectively.
• In 2004 the rate fell to 6.8 percent, and the rate for 2005 was 7.1 percent.

More information about TJS - Tajikistani Somoni (TJS)