Malaysian Ringgit (MYR)

The Malaysian ringgit is the official currency of Malaysia. Its currency code is MYR and its symbol is RM. Its conversion factor has 6 significant digits, and it is a fiat currency. The ringgit is known globally to be a stable currency.

Currency name

Malaysian Ringgit

RM

MYR exchange rates

 USD SGD AUD INR EUR GBP CAD PHP
From MYR0.22821 0.30243 0.34663 19.25820 0.21290 0.17664 0.31744 13.34210
To MYR4.38200 3.30655 2.88489 0.05193 4.69707 5.66132 3.15025 0.07495

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NameMalaysian ringgit (MYR)
SymbolRM
Minor UnitSen
Minor Unit Symbol¢
Notes Freq UsedRM1, RM5, RM10, RM20, RM50, RM100
Coins Freq Used5, 10, 20, 50 sen, RM1
Central BankBank Negara Malaysia
UsersMalaysia

Facts Table for Malaysian ringgit (MYR)

The Malaysian ringgit, denoted by the symbol RM and currency code MYR, serves as Malaysia's official currency, divided into 100 sen (formerly referred to as cents). Issued by the Central Bank of Malaysia, it holds a significant position in the country's financial landscape.

Marking its debut on 12 June 1967, the Malaysian dollar, under the auspices of the newly established central bank, Bank Negara Malaysia, superseded the Malaya and British Borneo dollar. This transition largely retained the denomination structure of its forerunner, except for the exclusion of the $10,000 denomination, while maintaining the colour schemes of the former currency. In subsequent years, various modifications were implemented on both banknotes and coins, such as the introduction of the M$1 coin in 1967 and the discontinuation of RM500 and RM1,000 notes in 1996.

The Malaysian Ringgit (MYR) in International Markets

Following the Malaysian dollar's introduction in November 1967, the Pound underwent devaluation, resulting in a loss of confidence within the sterling area and its eventual dissolution in 1972. Despite the inception of new currencies in Malaysia, Singapore, and Brunei, the Interchangeability Agreement initially permitted the Malaysian dollar to be exchanged at par with the Singapore dollar and Brunei dollar. This arrangement ceased on 8 May 1973, as Malaysia withdrew from the agreement. Nevertheless, as of 2009, the Monetary Authority of Singapore and the Brunei Currency and Monetary Board still uphold the interchangeability of their respective currencies.

A pivotal alteration occurred in 1993 with the introduction of the currency symbol 'RM' (Ringgit Malaysia), supplanting the conventional use of the dollar sign '$' (or 'M$').

The Bank Negara Malaysia, Malaysia's central bank, oversees the issuance, regulation, and circulation of the Malaysian Ringgit.

All Malaysian ringgit Exchange Rates