<Tr> <Th> Inflation </Th> <Td> 2.1% (2016) </Td> </Tr> <Tr> <Th> Source </Th> <Td> Department of Statistics, Malaysia </Td> </Tr> <P> The Malaysian ringgit (/ ˈrɪŋɡɪt /; plural: ringgit; symbol: RM; currency code: MYR; formerly the Malaysian dollar) is the currency of Malaysia . It is divided into 100 sen (cents). The ringgit is issued by the Bank Negara Malaysia . </P> <P> The word ringgit is an obsolete term for "jagged" in Malay and was originally used to refer to the serrated edges of silver Spanish dollars which circulated widely in the area during the 16th and 17th century Portuguese colonial era . In modern usage ringgit is used almost solely for the currency . Due to the common heritage of the three modern currencies, the Singapore dollar and the Brunei dollar are also called ringgit in Malay (currencies such as the US and Australian dollars are translated as dolar), although nowadays the Singapore dollar is more commonly called dolar in Malay . To differentiate between the three currencies, the Malaysian currency is referred to as Ringgit Malaysia, hence the official abbreviation and currency symbol RM . Internationally, the ISO 4217 currency code for Malaysian ringgit is MYR . </P>

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