Malaysian Currency Exchange Rate Indian Rupee - Currency Name and Facts About Money Used in Malaysia
Want to know more about using your bank cards or credit cards in Malaysia as well as bank opening hours to exchange your Indian currency into the local currency used in Malaysia?
Malaysian Currency is named Ringgit. 1 Ringgit is split into 100 Sen. The Ringgit is released by the Bank of Malaysia. The forex code for Ringgit is ALL. The currency exists in both Paper and Coin forms.
The Malaysian currency information and how to buy Malaysian money in India or send money to Malaysia from India are presented down below. If you require information such as Malaysian visas, visa application forms, and other travel information please use the dropdown menu, below.
Malaysian Currency Symbols: Ringgit, Sen
Malaysian ISO 4217 Code: MYR
Malaysian Central Bank: Central Bank of Malaysia
Malaysian Currency Subunits: Sen = 1/100 of a Ringgit
Malaysian Currency Denominations:
Notes: RM1, RM2, RM5, RM10, RM50, RM100 Ringgit
Coins: 1, 5, 10, 20, 50 sen, RM1
Money Exchange Rate for Malaysian Ringgit to Indian Rupee
Click on Malaysian Ringgit Currency Rates for the latest exchange rates of Ringgit to Indian Rupee.
Malaysia Money Exchange Rate - The majority of the foreign currencies, like Stirling Pound or US Dollar, might be changed at banks, bureaux de change and air terminals, railway stations, ports & big hotels in Malaysia at the official exchange rates.
Currency Exchange Rates can fluctuate over time due to various political, economical and market factors. A higher currency exchange rate means that the value of one currency has increased compared to another, while a lower exchange rate means the opposite.
Exchange rates are critical when travelling to Malaysia from India, buying goods and services from, or sending money to Malaysia.
The Ringgit is one of over 150 currencies around the world and it trades against all other official currencies of countries around the globe, thus giving us exchange rates: a measure of how much of one Ringgit exchange rate for Indian Rupee or other currencies.
Travelling from India and What is the Best Currency to Take to Malaysia?
When travelling to Malaysia from India, figuring out the best way to pay for things in Malaysia can be tricky as this country has different banking system, money customs and currency. Thankfully, many forms of payments have become avaiable around the world, including:
- Credit Cards: Mastercard and VISA credit cards are generally accepted in Malaysia, especially in hotels and high end restaurants.
- Debit Cards: Debit cards linked to your bank account in India let you make purchases at point-of-sale terminals and withdraw cash in Malaysia.
- Cash: Having some Ringgit banknotes could help for small purchases, tipping, and emergencies. You can typically exchange currency at a bank or exchange bureau before or upon arrival.
- Mobile Payments: Mobile payment services like Apple Pay, Google Pay, or Alipay are an increasingly popular way to pay, but you will need to check beforehand how available these methods are in Malaysia.
- Prepaid Travel Cards: A reloadable debit card with a Ringgit balance can give you good value, security, and convenience.
Sending Money to Malaysia from India
Every year, many people send money to Albania for all kinds of reasons. These include supporting friends or family, paying for someone’s tuition, settling business transactions, purchasing or upgrading property, and many others.
If you want to send an international money transfer to a lek bank account in Albania, then you should be aware of the high fees and exchange rates that go along with global money transfers with your international bank (these fees often constitute more than 10% of your transfer amount — you can read all about this in our dedicated explainer here).
Fortunately, international money transfers are a competitive market with many trustworthy alternative providers jostling to offer you the best exchange rates (rates which almost always far outdo those you’ll find at the bank!).
However, because the cheapest provider to send money abroad differs depending on factors such as where you’re sending from, the amount you’re sending, the payment method and others, we recommend skipping the hassle and finding the cheapest provider in real time live comparison tool below.
What is the best way to get lek in Malaysia?
The best way to get lek in Albania varies depending on your needs and preferences. In general, you can use your debit or credit card to spend money in Albania or ask your bank whether they offer a specific multi-currency card that supports lek balances.
However, this method can rack up higher-than-expected charges, and if you’re looking for the best fees and exchange rates, we recommend exploring online travel card leaders like the Wise Account and Revolut, which offer incredibly low-cost spending in dozens of currencies globally to see if they’re available in your country.
Is it better to use Prepaid Travel Money Card in Malaysia?
Using a prepaid travel card is almost always the best way to pay in Malaysia because they generally incur lower fees on Ringgit currency exchange from Indian Rupee than credit cards or bank debit cards do. Moreover, many prepaid travel cards let you hold multi-currency balances, allowing you to dodge sneaky fees while travelling — all while providing the same level of security and convenience as you are used to from your credit or debit card!
Depending on who you bank with you may be able to find a prepaid travel card from your bank in India. Still, we recommend using a global prepaid travel credit card provider because it offers excellent exchange rates, multi-currency balances, and a travel debit card that allows you to spend on your holiday like a local and enjoy peace of mind after each tap, swipe, or cash withdrawal.