Malaysian Ringgit to Indian Rupee (MYR to INR) Exchange Rate
Today's MYR Price to the Indian Rupee is 1 MYR = 21.00 INR
The currency unit of Malaysia is the Malaysian Ringgit, denoted by the currency code MYR. The Ringgit is available in various banknote denominations, including RM100, RM50, RM20, RM10, RM5, and RM1, as well as coins worth 50 sen (cents), 20 sen, 10 sen, and 5 sen.
The term 'Ringgit' has historical roots, originating from the use of Spanish silver coins in ancient times. It was officially adopted as the proper name for the Malaysian currency in August 1975. Previously, it was referred to as the 'dollar' in English and 'Ringgit' in Malay. However, the currency symbol '$' was used until it was replaced by 'RM' in 1993, a symbol still in use today. The Malaysian Ringgit is subdivided into 100 sen and is issued in denominations of 1, 5, 10, 20, 50, and 100 Ringgit.
Currency Exchange Rate (MYR to INR) - Last 10 Days
Date | 1 MYR to INR |
12-Sep-25 | ₹21.00 |
11-Sep-25 | ₹21.01 |
10-Sep-25 | ₹20.89 |
9-Sep-25 | ₹20.91 |
8-Sep-25 | ₹20.99 |
6-Sep-25 | ₹20.93 |
5-Sep-25 | ₹20.93 |
4-Sep-25 | ₹20.85 |
3-Sep-25 | ₹20.83 |
2-Sep-25 | ₹20.77 |
In the 1990s, the higher-denomination banknotes of 500 and 1,000 were withdrawn from circulation as part of efforts to combat money laundering. These denominations were subsequently demonetised and held no monetary value. The Malaysian Ringgit is not only the official currency of Malaysia, but it is also accepted in border regions of neighbouring countries such as Indonesia, the Philippines, Thailand, and Vietnam.
The transition to the Malaysian Ringgit took place in June 1967, replacing the Malaya and British Borneo dollar at a one-to-one exchange rate. The currency was initially referred to in dollars and cents until its name was officially changed to 'Ringgit' and 'Sen' in August 1975.
Converting Malaysian Ringgits to Indian Rupee Online
If you're interested in converting Malaysian Ringgit (MYR) to Indian Rupees (INR) online, online currency converters provide you with the current exchange rate, which is set at RS. 17.6698 for 1 Malaysian Ringgit. As of on Monday, 9 October 2023, 1 Malaysian Ringgit is equivalent to Rs. 17.6698, with no
change in the Malaysian Ringgit to Indian Rupees rate compared to the previous day. Additionally, these online currency convertors offer a table displaying popular Malaysian Ringgit to Indian Rupee conversions and historical charts depicting the current, weekly, and monthly Malaysian Ringgit to Indian Rupee rates.
With popular currency exchange sites' currency calculators, you have the ability to convert Malaysian Ringgit to Indian Rupees at the most favourable exchange rates. With some of these popular websites that provide exchange services, Malaysian Ringgits to Indian Rupees rates are live and updated every 3 seconds, and it's important to note that these rates are interbank rates, identical to the rates you find on popular search engines. When it comes to currency conversion, online platforms that offer currency exchange have better rates. These websites are dedicated to offering their customers the latest and unbeatable exchange rates.
Factors Influencing Value of Malaysian Ringgit
The value of the Malaysian Ringgit can be influenced by several factors, including:
- Global Emerging Markets: Changes in global emerging markets, which can affect investor sentiment and capital flows, can have a significant impact on the Ringgit's value. Economic developments in emerging markets worldwide may cause fluctuations in Malaysian Ringgit exchange rates.
- Political Sentiment in Malaysia: Political stability and sentiments within Malaysia play a crucial role in determining the Ringgit's value. Political events, decisions, or uncertainties within the country can affect investor confidence and subsequently impact the currency's exchange rate.
- Commodity Prices: Malaysia is a notable exporter of commodities, particularly oil and natural gas. Therefore, fluctuations in global commodity prices can influence the Ringgit's value. Higher commodity prices may strengthen the Malaysian Ringgit while declining prices can lead to depreciation.
- Offshore Trading: Offshore banks without a physical presence in Malaysia may engage in non-deliverable forward trading of the Ringgit. In 2016, regulatory authorities in Malaysia, such as the Bank Negara, began taking measures to regulate and oversee these offshore transactions. It's worth noting that the Ringgit remains primarily non-tradable in offshore markets.
Note: These factors, among others, contribute to the dynamic nature of the Malaysian Ringgit's exchange rate and should be considered when evaluating its value in the foreign exchange market.
Also Check : CHF to INR
FAQs on Malaysian Ringgit to Indian Rupee Exchange Rate
- Where can I convert the Malaysian Ringgit?
Similar to any foreign currency, Malaysian Ringgit can be obtained through online currency exchange platforms or at physical locations managed by foreign currency exchange providers. Travelers to Malaysia have the option to exchange their native currency for Malaysian Ringgits at currency exchange offices, banks, or bank ATMs within the country.
- Is the Malaysian Ringgit also known as the Malaysian Dollar, and what are its abbreviations?
Yes, the Malaysian Ringgit is sometimes referred to as the Malaysian Dollar. Its commonly used abbreviation is RM, and its official currency code is MYR.
- What are the available denominations of the Malaysian Ringgit, and are larger denominations practical for use?
The Malaysian Ringgit is circulated in various denominations, including 1, 5, 10, 20, 50, and 100. However, larger denominations are not commonly used in practical transactions.
- Where can travellers obtain Malaysian Ringgits, and what should they expect in terms of exchange fees?
Travellers heading to Malaysia can acquire Malaysian Ringgits through currency exchange services, either online or at physical stores, before their journey or upon arrival in Malaysia. It's important to anticipate exchange fees that typically range from 3% to 5% less than the official exchange rate.
- What are the primary factors that influence the value of the Malaysian Ringgit?
Shifts primarily influence the value of the Malaysian Ringgit in global emerging markets and domestic political sentiment. It also correlates with commodity prices, particularly due to Malaysia's role as a significant oil and natural gas exporter. Furthermore, it's important to note that offshore banks, which lack an onshore presence in Malaysia, may engage in non-deliverable forward trading of the Ringgit; however, regulatory measures have been implemented to control such offshore transactions, and the Malaysian Ringgit generally remains non-tradable in offshore markets.
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