List of 11 Currencies in ASEAN Countries Complete with Its Histories

TEMPO.CO, Jakarta - The Association of Southeast Asian Nations (ASEAN) is an organization whose members are countries in Southeast Asia. Each member country, such as Thailand, Malaysia or Singapore, has a different currency. If you want to visit a number of ASEAN countries, then know the currencies applicable in these countries.

There are eleven names of ASEAN countries' currencies that are still valid today. The use of currency is used as a legal means of payment in that country. The following is a list of the currencies of ASEAN countries.

1. Indonesian Currency (Rupiah)

The history of the Rupiah (IDR) as Indonesia's currency is very long. This started with the determination of the use of money issued by the Dutch East Indies, Javasche Bank, and Japansche Regeering after Indonesia proclaimed independence. Then, Bank Indonesia (BI) was mandated to become the central bank through Bank Indonesia Law no. 13 of 1968, started printing Rupiah.

2. Singapore Currency (Dollar)

There are many types of dollar currency in force in the world, for example the United States dollar and the Australian dollar. One of the ASEAN countries that also uses dollars is Singapore. The Singapore Dollar (SGD) was first introduced in 1967, after the country with the size of Jakarta separated from the Malaysian Federation.

3. Malaysian Currency (Ringgit)

The next ASEAN country currency is the Ringgit (MYR) which is used by Malaysia. The country, which adheres to a federated monarchical system of government, inaugurated the Ringgit in August 1975. Previously, the US dollar symbol ($) was still valid, then it was changed to RM (Malaysian Ringgit) starting in the 1990s.

4. Currency of Brunei Darussalam (Dollar)

The currency of the ASEAN country, Brueni Darussalam is the dollar. One of the countries that has oil and gas reserves (petroleum and gas) uses the symbol B$, but some Malays in that country call it Brunei Ringgit (RB).

5. Thailand Currency (Baht)

Thailand is an ASEAN country that uses the Baht currency. The country of the White Elephant initially planned to release paper money called Ngoen Kradat Luang in 1890. However, because it was considered too excessive and a source of waste, the Thai government legally issued the Baht (THB) in 1897. Money printing in Thailand is regulated by the Bank of Thailand .

6. Vietnam Currency (Dong)

Vietnam is an ASEAN country that uses the Dong currency. The Blue Dragon country started using Dong as a transaction tool on May 3 1978. The word 'Dong' comes from 'dong tien', which means money. Previously, the oldest currency in Vietnam discovered in the Dinh Dynasty was the Thai Binh Hung Bao.

7. Philippine Currency (Peso)

The use of the Philippine Peso (PHP) was heavily influenced by Spanish colonialism. Even the term 'Peso' itself is a language from Matador Country, which means heavy. In 1521, the Teston coin was introduced. Furthermore, after the moment of independence, the Peso was used with a number of adjustments.

8. Myanmar Currency (Kyat)

The Myanmar Kyat (MMK) currency has been around since 1852. The first version of printed money in the form of gold and silver coins was valid until 1889. Then, Vietnam also chose the Indian currency, namely the Rupe. In 1952, Myanmar began establishing a currency control board and issued several denominations of the Kyat.

9. Cambodian Currency (Riel)

Riel (KHR) is one of the names of the currencies of ASEAN countries, namely Cambodia. There are a number of versions stating that Riel's origins come from Angkor Wat. Firstly, it is thought to be taken from the Khmer language and means small fish or fish that live in the Mekong River. Second, Riel is considered to be an abbreviation of the word 'Real' which is Mexican silver money.

10. Laos Currency (Kip)

A republic-shaped country, namely Laos, uses the Kip (LAK) currency. In 1952, Kip was introduced as a replacement for Piastre from the French era. Kip also has another name, namely Royal Kip.

This is a list of names of currencies in ASEAN countries along with a glimpse of their history. Currency is not only considered a means of payment, but is a source of pride for a country. Like in Indonesia, which uses images of national heroes on banknotes.

11. Timor Leste Currency (US Dollar)

Citing Travelex, the currency used by Timor Leste is US dollars, a decision made by the National Consultative Council that considered the US Dollar as strong and stable. The country adopted the US dollar in 1976, a year after the East gained its independence. Before that, it used the pataca, the rupiah, and the escudo. The pataca was used from 1894 to 1958.

MELYNDA DWI PUSPITA

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