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The Cash Use of the Malaysian Ringgit

Author

Listed:
  • Franses, Ph.H.B.F.
  • Welz, M.

Abstract

The current (as of 2012) denominational range of the Malaysian ringgit has banknotes of RM1, 5, 10, 20, 50 and 100, but no RM2. The previous range (1996) carried RM1, 2, 5, 10, 50 and 100, but no RM20. We compare the efficiency of these two ranges with a full range like the Euro has, that is, 1, 2, 5, 10, 20, 50 and 100. We estimate that if the Bank Negara Malaysia would reintroduce an RM2 banknote, the efficiency of the payment system in Malaysia would increase substantially.

Suggested Citation

  • Franses, Ph.H.B.F. & Welz, M., 2020. "The Cash Use of the Malaysian Ringgit," Econometric Institute Research Papers 125962, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    • Handle: RePEc:ems:eureir:125962
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    More about this item

    Keywords

    Cash payments; denomination range; efficiency;
    All these keywords.

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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