The Ringgit is the official currency of Malaysia, symbolized as RM. It is subdivided into 100 sen and is issued by the Central Bank of Malaysia, known as Bank Negara Malaysia. The currency is used for all transactions within the country and is an essential part of the Malaysian economy. The Ringgit has undergone various changes since its introduction in 1967, including redesigns and the introduction of new security features. It is traded on foreign exchange markets and its value can fluctuate based on economic conditions, trade balances, and other factors affecting the Malaysian economy.