UYI to MYR

UYI - Uruguayan Peso (Indexed Units) (UYI)
MYR - Malaysian Ringgit (RM)
1 UYI1 MYR

Currency conversion rates from UYI to MYR

UYIMYR
1 UYI1 MYR
5 UYI5 MYR
10 UYI10 MYR
20 UYI20 MYR
50 UYI50 MYR
100 UYI100 MYR
250 UYI250 MYR
500 UYI500 MYR
1000 UYI1000 MYR
2000 UYI2000 MYR
5000 UYI5000 MYR
10000 UYI10000 MYR
MYRUYI
1 MYR1 UYI
5 MYR5 UYI
10 MYR10 UYI
20 MYR20 UYI
50 MYR50 UYI
100 MYR100 UYI
250 MYR250 UYI
500 MYR500 UYI
1000 MYR1000 UYI
2000 MYR2000 UYI
5000 MYR5000 UYI
10000 MYR10000 UYI

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)


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