The currency of Malaysia is the Ringgit (RM), also
previously known as the Malaysian dollar, and is available in note
denominations of 1 RM, 2 RM, 5 RM, 10 RM, 50 RM and 100 RM. Coin values are 1
sen (cent), 5 sen, 10 sen, 20 sen, 50 sen and 1 RM.
ATM machines are widely distributed around the country,
and most major credit cards, principally Visa and MasterCard, are accepted in
hotels, shops and restaurants, but as everywhere else, should be used with
caution, particularly if the transaction takes place out of sight.
Most banks are also connected to the International
banking networks such as cirrus, Maestro and Plus.
Travellers Cheques are cashable at banks, or at licensed moneychangers,
the latter often giving a more favourable rate. Both will also convert cash
into local currency from major international currencies.
In remote areas of Malaysia, it will be best to
maintain a reserve in cash, as there will be little or no opportunity to
acquire money or pay for facilities electronically.