What is Malaysian Ringgit (MYR)?

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The **Malaysian Ringgit (MYR)** is the official currency of Malaysia, issued and managed by the central bank, Bank Negara Malaysia (BNM), and is a non-internationalized currency that plays a crucial role in the nation's trade-dependent economy. The currency's history is marked by a significant period of a fixed exchange rate peg of 3.80 MYR per US Dollar (USD) from 1998 to 2005, a policy implemented to stabilize the economy following the 1997 Asian Financial Crisis.

Malaysian Ringgit (MYR)

What is Malaysian Ringgit (MYR)?

What is the history of the Malaysian Ringgit's exchange rate policy, and how did the 1997 Asian Financial Crisis influence it?

How does Bank Negara Malaysia (BNM) manage the Ringgit's value in the modern foreign exchange market?

What are the primary economic and external factors that influence the value of the Malaysian Ringgit (MYR)?

Why is the Malaysian Ringgit considered a non-internationalized currency, and what are the implications for foreign investors?

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