Malaysian Ringgit (MYR)

Malaysian Ringgit (MYR)

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Malaysian Ringgit (MYR)

Issued by the Bank Negara Malaysia, The Malaysian Ringgit is the official currency of Malaysia. The general abbreviation of the Malaysian Ringgit is MYR. Introduced after replacing the Malaysian Dollar in the year 1967, the Malaysia Currency also announced its subunit called Sen. The Ringgit is divided into 100 Sen. The term Ringgit means jagged. This currency is sometimes still referred to as the Dollar, like before. The new 50 Sen coin has a high-security feature to avoid fake coin circulation. The Old 1 Sen Coin can still be used as money.

Some facts that you ought to know about the MYR:
  • The nicknames for Malaysian Ringgit are JIAO, MAO, FEN.
  • RM is the symbol of the Ringgit.
  • The most repeatedly used coins are 5 SEN, 10 SEN, 20 SEN, 50 SEN.
  • The most frequently used banknotes are RM1, RM5, RM10, RM20, RM50, RM100.

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It was my first trip to Australia, that too for higher education. Being a student, I had my own apprehensions, along with different suggestions from different people. While I was conducting my own research to find out the best rates for forex, I landed upon the Thomas Cook website, which offered me some very convenient student services in addition to my basic requirement of buying Australian dollars. I never had to look back after that. Thank you, Thomas Cook.
Sahil Shah
I had planned a surprise trip for my wife to Australia, for our first wedding anniversary. Buying forex was the only task left after I had made all the other arrangements. During all this while I had a close eye on the Australian dollar rate, considering that generally it is very high, however I couldn’t figure the right time to buy the dollar. Thanks to the Thomas Cook experts team who advised me on the way around, and I ended up buying the currency at the best rates possible.
Chiranjit Hira
I had some basic queries before I could decide of buying AUD, and I must say that the Thomas Cook team was professional enough in handling all of them. So much so that later when I returned from my trip I had no doubts in my mind about selling the spare AUD to Thomas Cook and the service quality was still intact.
Pratish Shaw

Quick Facts About Malaysian Ringgit (MYR)

Currency Name
Malaysian Ringgit
Short Name
MYR
Nicknames
jiao, mao, fen
Symbol(s)
RM
Unit
1/100, sen
Frequently used coins
5 sen, 10 sen, 20 sen, 50 sen
Rarely used coins
N.A
Frequently used bank notes
RM1, RM5, RM10, RM20, RM50, RM100
Rarely used bank notes
N.A
Central Bank, Name & Website
Bank Negara Malaysia | www.bnm.gov.my
Territories that use the currency as a part of their legal tender
NA
The Malaysian Ringgit Currency
The Malaysian Ringgit was introduced after it replaced the Malaysian Dollar in the year 1967. Similarly, the cents were renamed to sen. The subdivision of the currency is in 100 sen. Currently, for the currency coins, the circulation is under the denominations of sen 5, 10, 20, and 50. Similarly, for the currency bank notes, the circulation is under the denominations of ringgit 1, 5, 10, 20, 50 and 100.

How to find THE best foreign currency rate online?
To get the latest INR to MYR or Malaysia currency rate, simply visit the Thomas Cook website. Thomas Cook is the best money converter in the country, and offers best Indian currency rate, along with international currency rate. Also, if you are looking for customized tour packages, turn to Thomas Cook.

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Frequently Asked Questions

What does Ringgit stand for in the currency name?
Ringgit is nothing but a currency unit of Malaysia. It replaced the Malaysian dollar thereby changing its currency name to Malaysian Ringgit.
What currency would be ideal to carry to Malaysia?
We suggest that you convert your Indian Rupee to Malaysian Ringgit before you land in Malaysia. You may search and compare the best rates available before you finalise on booking forex. In case of any further clarity, you may contact our support team and they will assist you with the necessary details
How much money can I carry in/out Malaysia?
You may carry up to USD10,000, or foreign currency equivalent, in and out of Australia. However, in case the amount you are carrying exceeds the given limit, then you must declare the same.
How expensive is to buy/sell Ringgit in Malaysia?
If you are travelling from India and you want to exchange INR to MYR, it will cost you dearly. Especially, the vendors at the airport will be very expensive and it won’t make your transaction any worth. We suggest that you undertake the exchange before leaving India to enjoy a hassle-free travel.
Where can I exchange Malaysian Ringgit in India?
You may visit the nearest Thomas Cook centre to meet one of our representatives, or you may even book it online through our website.
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