STD to MYR

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.

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STD - São Tomé & Príncipe Dobra (1977–2017) (STD)

São Tomé & Príncipe Dobra (1977–2017)

Sao Tome and Principe are two small Portuguese-speaking islands approximately 140 kilometers apart in the Gulf of Guinea. The Dobra is the official currency of the islands and is represented by the symbol Db. The Dobra was pegged to the Euro in 2010 at a stable rate of 1 Euro = 24,500 STD.

The Sao Tome Dobra is the currency in Sao Tome and Principe (ST, STP). The symbol for STD can be written Db. The Sao Tome Dobra is divided into 100 centimos. The exchange rate for the Sao Tome Dobra was last updated on May 24, 2019 from Yahoo Finance. The STD conversion factor has 5 significant digits.

Economy

• Economic development in Sao Tome and Principe has been adversely affected by factors such as government decisions and natural disasters, as well as lack of resources.
• Cocoa has been the main contributor to economic development in Sao Tome and Principe for the past 34 years. However, this has been affected by disasters such as drought. Bananas, fish, cinnamon, beans, and poultry also contribute to agricultural production, but it does not meet the needs of the consumers.
• Modern economic development has been geared towards developing the large amount of oil said to be present in the Gulf of Guinea.
• The majority of manufactured goods are imported.
• The authorities have tried to decrease price controls and grants, but monetary development has remained inactive.

History

• The Escudo was replaced by the Dobra at a rate of 1:1.
• In 1996, banknotes were issued in denominations of 5,000, 10,000, 20,000 and 50,000 dobras.
• In 1997, coins were issued in denominations of 50 cêntimos, 1, 2, 5, 10 and 20 dobras.
• In 1997, banknotes were issued in denominations of 50, 100, and 1,000 dobra.
• In 2008, 10,000 dobra banknotes were issued.
• In 2010, the Dobra was officially pegged to the Euro at a stable rate of 1 Euro = 24,500 STD.

More information about STD - São Tomé & Príncipe Dobra (1977–2017) (STD)