Whether writing a check, completing a bank transfer, or filling out a legal document, knowing how to write monetary amounts in words is very important.
Writing out Ringgit Malaysia in words might seem daunting at first, but it becomes straightforward once you grasp the basic structure. If you’re a foreigner in Malaysia, read on!
Ringgit Malaysia currency
How to write Ringgit Malaysia in words?
To write “Ringgit Malaysia” in words, you can use the following format:
Ringgit Malaysia is the official currency of Malaysia.
Alternatively, if you want to write a specific amount of Ringgit Malaysia in words, follow these steps:
- Write the numerical value.
- Add the word “Ringgit.”
- Add the word “Malaysia.”
- 100 Ringgit Malaysia
- 5000 Ringgit Malaysia
- 20 Ringgit Malaysia
Remember to capitalize “Ringgit” and “Malaysia” as they are proper nouns.
What does Ringgit means historically?
Historically, “Ringgit” is a Malay word meaning “jagged” in English. According to Investopedia, the word “Ringgit” means “jagged” in Malay and was originally used to refer to the serrated edges of silver Spanish dollars, which were widely used in the region during the Portuguese colonial era.
The currency was later named “Ringgit” in official usage, such as “Ringgit Malaysia” (meaning Malaysian Ringgit) which is the official currency of Malaysia.
What is the differences between RM and MYR?
RM and MYR are both used to represent the Malaysian Ringgit, which is the official currency of Malaysia. The difference is simply in the way they are used.
RM (Ringgit Malaysia) is widely used in local transactions within Malaysia. It is often seen in shops and markets, and is commonly used in spoken language.
On the other hand, MYR (Malaysian Ringgit) is the international currency code used in the foreign exchange market and banking transactions. It is recognized globally and used in digital platforms, financial reports, and international financial transactions.
How is Malaysian currency written?
Malaysian currency is written as RM followed by the amount. RM stands for Ringgit Malaysia. For example, RM 10.
How to write cheque amount in words in Malaysia?
Writing the cheque amount in words in Malaysia follows the same standard way as in many other countries.
For example, if the cheque amount is RM 1,000, you should write:
“One Thousand Ringgit Only”
If the cheque amount is RM 1,234.56, you should write:
“One Thousand Two Hundred and Thirty Four Ringgit and Fifty Six Cents Only”
Here are some additional guidelines:
- Always write ‘Only’ at the end. It prevents unauthorized persons from adding any digits.
- Use the word ‘and’ for decimal points. It separates the Ringgit and Sen amounts.
- Avoid leaving spaces between words and punctuation marks. This prevents fraud by inserting words or digits.
- If there is a decimal point, but no amount after it (like RM 1,000.00), you can write: “One Thousand Ringgit Only”. You can also write it as “One Thousand Ringgit and Zero Cents Only”.
- If the amount is in round figure (like RM 1,000), you don’t need to write the ‘and Zero Cents’ part. But it’s not wrong if you write it.
What happen if the cheque amount in Malaysian ringgit is written incorrectly?
If the cheque amount in Malaysian ringgit is written incorrectly, the bank will not be able to process the cheque.
This could happen if the written amount does not match the numerical amount if the amount needs to be clearly written, or if there are alterations that have not been countersigned by the issuer.
In such cases, the cheque will be returned to the issuer for correction and reissue.
What mistakes should I avoid in spelling or writing Malaysian ringgit?
Here are some tips for you to correctly spell and write Malaysian ringgit in words:
- Incorrect Symbol: The correct symbol for Malaysian ringgit is RM. Don’t use MR or MYR.
- Incorrect Abbreviation: The correct abbreviation for Malaysian ringgit is MYR. Avoid using RM, RMY, or MRY.
- Incorrect Spelling: The correct spelling is “ringgit” not “ringit” or “ringet”.
- Plural Form: There is no plural form for ringgit, so don’t write “ringgits”. The same applies to its subdivision, sen.
- Improper Capitalization: When writing out the full name, only the first letter should be capitalized. It should be “Malaysian ringgit”, not “Malaysian Ringgit” or “MALAYSIAN RINGGIT”.
- Incorrect Usage: Remember to use the proper unit. Ringgit is the main currency unit, while sen is a subdivision of the ringgit. Hence, 100 sen equals 1 ringgit, not the other way around.
- Incorrect Positioning: The currency symbol should be written before the amount, not after. For example, RM10 not 10RM.
- Skipping Spaces: There should be a space between the currency symbol and the amount. For example, it should be RM 10, not RM10.
- Decimal Points: Use decimal points to separate ringgit and sen, not commas. For example, it should be RM10.50, not RM10,50.
- Ignoring Local Conventions: In Malaysia, a comma is used to separate thousands, unlike some countries where a period is used. For example, it should be RM1,000, not RM1.000.