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The word was originally used to refer to the serrated edges of silver.
From these dollars were derived their successor currencies the and the , and eventually the modern-day Malaysian ringgit, and.
Waiting for a better rate? This has resulted in the value of the ringgit rising closer to its perceived market value, although Central Bank of Malaysia has intervened in financial markets to maintain stability in the trading level of the ringgit, a task made easier by the fact that the ringgit was pegged and has remained non-tradeable outside Malaysia since 1998.
The mid-market exchange rate matters because it's the rate banks and currency exchange services get when they buy and sell currency on the global markets.
Political uncertainty following and the , falling in the late-2000s, and the lack of intervention by the Central Bank of Malaysia to increase already low which remained at 3.