The local currency is Ringgit Malaysia (RM) and it is convertible into most major currencies. Foreign currencies can be converted at banks and money changers on the mainland. Common bank notes are in denominations of 100, 50, and 10 Ringgit.
Tourists are free to bring in any amount of foreign currency or travelers cheques. However, tourists would need to seek approval if the amount of foreign currency to be carried abroad exceeds the amount brought into Malaysia and if the amount to be taken out is more than the equivalent of USD2500. Tourists must also obtain permission and declare ringgit exceeding RM1000 being brought into or out of Malaysia. Further details at http://www.customs.gov.my/en/tp/Pages/tp_dc.aspx