MALAYA 1 CENT 1945 KM#6 GEORGE VI SCARCE UNC #1

History of Malayan Dollar

The dollar (Malay: ringgit, Jawi: ريڠڬيت) was the currency of the British colonies and protectorates in Malaya and Brunei until 1953. It was introduced in 1939, replacing the Straits dollar at par, with 1 dollar = two shillings four pence sterling (60 dollars = 7 pounds).

History
The Malayan dollar was issued by the Board of Commissioners of Currency, Malaya, with a hiatus during the Japanese occupation (1942–1945). During this period, Japanese occupation paper money was issued in denominations in cents and dollars. This currency was fixed at 1 dollar = 1 Japanese yen, compared to a 1:2 pre-war rate. Following the war, the Japanese occupation currency was declared worthless and the previous issues of the Malayan dollar regained their value relative to sterling.

In 1952 the board was renamed the Board of Commissioners of Currency, Malaya and British Borneo. The Board began issuing banknotes in 1953. See Malaya and British Borneo dollar.

Coins
Coins were issued between 1939 and 1950 in denominations of ½ and 1 cent (square, bronze), 5, 10 and 20 cents (silver until 1945, cupro-nickel from 1948).

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