Ringgit (MYR) = 100 sen. Notes are in denominations of MYR1000, 500, 200 100, 50, 20, 10, 5, 1. The MYR1000 and MYR500 notes are now being phased out. Coins are in denominations of 50, 20, 10, 5 and 1 sen. There are also many commemorative coins in various denominations which are legal tender. The Ringgit is often referred to as the Malaysian Dollar.

The best currency for exchange is the Pound Sterling, but US Dollars are also widely accepted. All commercial banks are authorised foreign exchange dealers; major hotels are only licensed to buy or accept foreign currency in the form of notes and traveller's cheques. Although all major currencies can be exchanged easily in the main tourist centres, problems may occur elsewhere. It is difficult to exchange Malaysian currency outside of Malaysia, Singapore or Indonesia. All visitors need to fill in a Travellers Declaration Form (TDF); see below for details.

American Express, Diners Club, MasterCard, Visa and Eurocard are accepted.

Accepted by all banks, hotels and large department stores. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Pounds Sterling, US Dollars or Australian Dollars.

All visitors entering Malaysia (including children) must declare amounts over MYR1000 that they have in their possession (local and equivalent in foreign currencies) on a Travellers Declaration Form (TDF), which can be obtained at the airport or Malaysian embassies, high commissions and tourist offices. On departure, the TDF has to be filled in prior to immigration clearance.
The import and export of local currency is limited to MYR1000. The import of foreign currency is unlimited. The export of foreign currency is limited to the amount imported on arrival.

Date	Jul 06
£1.00=	MYR6.72
$1.00=	MYR3.69

Mon-Fri 0930-1600, Sat 0930-1130 (closed on the first and third Saturday of each month). Banks in Sabah open at 0800 and usually break for lunch (1200-1400).

The following goods may be imported into Malaysia without incurring customs duty:
200 cigarettes or 50 cigars or 225g of tobacco; 1l of spirits or wine or malt liquor; cosmetics, perfumery, soaps and dentifrices up to the value of MYR200; gifts and souvenirs not exceeding a total value of MYR200 (except goods from Langkawi and Labuan, up to a value of MYR500); 100 matches; a total of MYR75 for dutiable food preparations; a maximum three pieces of new wearing apparel, plus one pair of new footwear; one unit of each portable electrical or battery-operated appliance for personal care and hygiene.

It is prohibited to import any goods from South Africa and Israel. Non-prescribed drugs, weapons and any imprint or reproduction of any currency note or coin are prohibited. Drug-smuggling carries the death penalty.