New Ringgit Design

Bank Negara Malaysia has announce that a new series design of Malaysian banknotes and coins will be available in the year 2012. The theme of the design will be based on distinctive Malaysian features. It will also have enhanced security elements for the benefit of all users of the currency.

The new design of banknotes will only be for RM1, RM5, RM10, RM20 and RM100. The current design of the RM50 banknote in commemoration of Malaysia’s 50th Anniversary of Independence will continue to be used. New design of coins will include 5 sen, 10 sen, 20 sen and 50 sen. The old series of the national currency can still be used but will be phased out slowly.

"In preparation for the issuance of the new currency series, Bank Negara Malaysia will be working closely with financial institutions, businesses and cash handling vendors to ensure a smooth transition to the new series. Vendors of cash handling machines will be given six months to calibrate their machines to ensure public convenience for the use of the new currency", said Bank Negara in a statement yesterday.

To increase public awareness on the new ringgit, Bank Negara Malaysia will issue the commemorative coins and unveil the new banknotes design in the third quarter of 2011.

(sources from TheStar and Bank Negara Malaysia)