Currency

Ringgit and sen.

RM1=100 sen. Coins come in denominations of 5,10, 20, and 50 sen , and Rm1, and notes in Rm1, RM2, RM5, RM10, RM50, and RM100

Ringgits are freely convertible and the exchange rate is US$1 = RM3.474 (13 June 2007). Foreign currencies are not generally accepted. The major exception is Singapore dollars, which are accepted by KTMB and toll roads, but at a highly unfavorable 1:1 exchange rate (an anomaly dating back to when the ringgit was interchangeable with the Singapore dollar, prior to the 1970s).

Banks and airports are not the best places to exchange money if it is not urgent. Licensed money changers in major shopping malls often have the best rates - be sure to say the amount you wish to exchange and ask for the 'best quote' as rates displayed on the board are often negotiable, especially for larger amounts. (Source: Wikitravel)