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What is a ringgit?

What is a ringgit? Here are some definitions.

Noun
  1. The currency of Malaysia
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A 2009 study of 1.3 million Malaysian workers by the Ministry of Human Resources showed that almost 34 percent earned less than 700 ringgit a month — below the official poverty line of 720 ringgit.
The Asian financial crisis was in full throttle, and the Malaysian ringgit, along with most other regional currencies, was falling fast.
To reduce the government subsidy on fuel, Mahathir said diesel and petrol prices will increase by 10 sen per liter to 0.80 and 1.20 ringgit respectively.
The value of the ringgit has been seen as too low compared with other regional currencies which have gained strength reflecting the rising economy.
As of 14 January, public contributions for domestic tsunami victims have exceeded 53 million ringgit.
Many analysts are also of the view that the ringgit is undervalued, but the Malaysian government maintains that it is at a competitive level.

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