This is to distinguish the rates from those fixed by Chinese central banks on the mainland.
Before 2009, the Chinese renminbi had little to no exposure in the international markets because of strict government controls by the central Chinese government that prohibited almost all export of the currency, or use of it in international transactions.
This stringent management of the currency leads to a bottled-up demand for exchange in both directions.
It also exports crude oil, refined petroleum, and natural gas.
China has stated that the basket is dominated by the , , and , with a smaller proportion made up of the , , , , and.
At the same time, the government introduced measures to allow retention of part of the foreign exchange earnings from non-trade sources, such as overseas remittances, port fees paid by foreign vessels, and tourism.
Do consult your financial advisor before making any decisions.
It is issued in denominations of one, five, 10, 20, 50, and 100 ringgits.