Currency of Malaysia. Malaysia is a federal constitutional monarchy in Southeast Asia. The capital city is Kuala Lumpur; however, the seat of the federal government is Putrajaya. Although the official language is Bahasa Malaysia, the English language and the Latin alphabet are frequently in use. Malaya gained independence from the United Kingdom on August 31, 1957 followed by the Federation of Malaya, Sabah, Sarawak and Singapore on September 16, 1963. Monetary system: 1 Ringgit (Dollar) = 100 Sen. NOTE: 500 and 1000 Ringgit notes were demonetized on July 1, 1999.