British pound to Malaysian ringgit exchange rates

The lowdown on the Malaysian ringgit

The Malaysian ringgit is a relatively young currency, having only been in circulation in its current form since 1993. This followed a previous currency called the Malaysian dollar, which was interchangeable with the Singapore dollar and the Borneo dollar until 1973. The 1997 East Asian financial crisis saw the ringgit lose value and subsequently was de-pegged from the US dollar at around the same time as China de-pegged the renminbi form the US dollar. After a period of stability, more recently, the ringgit has lost value again, due to various global geopolitical and economic factors.

A look back at British pound to Malaysian ringgit rates

Significant effects on the relationship between the pound and the ringgit have occurred during global events that have generally seen the pound drop in value. This includes the 2008 global financial crisis when the pound fell from about RM6.35 to about RM4.91 in just over six months. A sharp change occurred again on the back of the 2016 UK referendum on its membership with the European Union, where the value of the pound fell from around RM5.96 to RM5.20 over the course of about 10 days.