Today's Malaysian Ringgits Rates for Foreign Exchange in India

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Malaysian Ringgits Rates Today - Live

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Live Malaysian Ringgits Rates Today

Malaysia is one of the tops sought travel destinations for Indians planning to travel to the south-east Asia region. Malaysian Ringgit is the currency of Malaysia which you would surely require to transact there. Unlike Banks which provide MYR at a fixed exchange rate for the day, you can check and purchase Malaysian currency online at the live Malaysian Ringgit exchange rates. You can also check the live MYR exchange rate online at the Live Forex Rate page of BookMyForex.

Malaysian Ringgit Profile

Malaysian Ringgit is the official currency of Malaysia, a Southeast Asian country. The currency is abbreviated as MYR in the international currency exchange markets. The Malaysian Ringgit is issued and managed by the central bank of the country, Bank Negara Malaysia.

Earlier Malaysian Ringgit was a free float currency but during the East Asian Crisis Period (1997-1999) in which it witnessed sharp depreciation, the central bank of Malaysia pegged the ringgit exchange rate against the US dollar in September 1998 fixing its exchange rate at 3.80 Malaysian Ringgits per US Dollar. However, MYR remained floating against other currencies. It was only in July 2005, Bank Negara Malaysia announced the system of pegged exchange rate soon after China’s announcement of the end of renminbi peg against the USD.

In case you are planning to visit Malaysia in the near future, you can purchase Malaysian Ringgits online or convert INR to MYR at bookmyforex.com at the best Malaysian Ringgit rates. 

Why Should You Purchase Malaysian Ringgits from BookMyForex?

BookMyForex aims to provide a seamless experience of currency exchange to its customers in terms of transaction cost and service quality. Unlike other money changers which provide foreign exchange at a fixed rate throughout the day, BookMyForex provides forex at live rates. Further, you can place your order online and get your forex delivered at your home. 

Best MYR  Exchange Rates: BookMyForex scans through rates quoted by 100s of money changers in your area and provides you with the best exchange rates. Our currency converter calculates rates based on the interbank rates or mid-market rates. You can buy or sell Malaysian Ringgits at the rates shown on our site, there is no hidden charge levied for currency conversion. 

Trust and Security: As per the foreign exchange regulations in India, you are required to provide with multiple documents such as your Passport, Visa, Airticket, PAN card details. In certain cases, you may even be required to furnish your Income Tax Return. 

While thinking about the safety of the data and documents as provided by the customers, BookMyForex has come up with the idea of watermarking the documents, every time the customer uploads it on the website. Watermarking clearly defines the purpose of use of the document and prevents from getting them misused for any other purposes.

Convenience:  With BookMyForex, there is absolutely no need to step out from your home to get forex. You don’t get to make calls to multiple money changers to check for currency availability and so. You can simply stay at home and order foreign exchange from your phone using the BookMyForex app! Not just that, you can also make payment online and also get your foreign exchange delivered directly to your home. It’s that easy!

Better MYR Exchange Rates than Indian Banks

Here is a comparative analysis of BookMyForex with other forex players in the market:

malaysian-ringgit-rate-today

Live Rates: Banks and money exchangers worked on the concept of what’s known as “today’s MYR rate” or “MYR rate today” which is essentially a fixed rate for MYR to INR conversion. Since foreign exchange rates are volatile even by seconds, such money changers keep a thick layer of margin over the underlying Inter-bank rates to counter any adverse movement in the exchange rate during the day.

On the other hand, BookMyForex provides Swiss Francs at live rates displayed on its website which is very close to the IBR rate, thereby benefitting the customer in terms of better exchange rates. 

Advantage-Digital:  Most of the money changers in India have an institutional setup at the physical level which involves various kinds of fixed costs such as rent, salaries and other operating costs. The simple rule of economics tells us that all of these costs are ultimately borne by the customer in the form of higher fees and purchase price.

Being a digitally enabled platform, BookMyForex saves that cost and pass that benefit to the customers in the form of the best foreign currency exchange rates in the market.

Aggregator Model: Being a currency exchange marketplace, BookMyForex first compares the exchange rate among the quotes provided by 100s of currency changers near to your location and then provides you with the best exchange rates. The principle of competition ensures you get the best exchange rate.

How can you buy MYR at the best price?

Step 1: Go to BookMyForex.com or simply call at 9212219191

Step2: Select the currencies (INR to MYR) and the amount that you want to exchange.

Step 3: Upload your KYC documents online which include your Passport, Visa, Air-Ticket and PAN card and make payment. You can also opt for Pay on Delivery option. 

Step 4: Congrats! Your Malaysian RIggits would be delivered directly to your home, most probably on the same day!

Rate Alert to Track MYR Exchange Rate Online

Using the rate alert feature available at BookMyForex.com, you can save yourself from keeping a continuous tab on rates. The rate alert feature allows you to set the rates at the levels you want to purchase Malaysian Ringgits (MYR) and then BookMyForex automatically notifies you when the MYR strikes that rate. 

Frequently Asked Questions (FAQs)

Q1. Why should I buy an MYR from BookMyForex?

Ans. Being India’s first and largest online currency exchange marketplace, BookMyForex provides multiple advantages over traditional currency exchangers such as banks etc. Here are a few reasons to buy Malaysian Ringgits from BookMyForex:

  • Live and completely transparent MYR to INR exchange rates
  • Huge guaranteed savings as compared to MYR to INR exchange rates offered at airports, banks and money exchangers
  • Free Doorstep Delivery for Order above INR 1 Lac
  • Rate Freeze Facility by paying just 2% refundable fee
  • Round the clock assistance from the customer support team
  • Robust Network of 5000+ channel partners in 650 cities across India
  • Attractive offers and discounts

Q2. Will I get the best MYR Rate online?

Ans. You can get one of the most competitive MYR exchange rates online. You should look for live exchange rates to transact and you can also compare foreign exchange rates across various platforms online. It is better to go for a trusted online currency exchange marketplace to have the best Malaysian Ringgit rates online.

Q3. How to know if MYR currency notes are genuine?

Ans. There is no particular or 100 per cent foolproof way of determining the authenticity of the currency notes. However, you can avoid getting into the trap of fake currency, it is recommended to transact in foreign currency with a well-known and trusted currency exchanger. 

However, you can visit the guidelines provided by the Central Bank of Malaysia to save yourself from falling into a fake currency trap.

Q4. Can I sell MYR online?

Ans.  You can both buy and sell Malaysian Ringgit online from a trusted currency exchange marketplace such as BookMyForex. You just need to visit bookmyforex.com and select your city, currency (MYR in this case) and the amount that you want to sell online. You need to upload your Passport copy which you can do online. Once your MYR to INR conversion order placed, a representative of BookMyForex would visit your place and give you equivalent INR and take MYR from you. 

MYR Rates Chart

Common Malaysian Ringgits Denominations:

Malaysian Ringgits (MYR) Indian Rupee (INR)
1 MYR 17.7337
5 MYR 88.6685
10 MYR 177.337
20 MYR 354.674
25 MYR 443.3425
50 MYR 886.685
100 MYR 1773.37
200 MYR 3546.74
250 MYR 4433.425
300 MYR 5320.11
Malaysian Ringgits (MYR) Indian Rupee (INR)
500 MYR 8866.85
1000 MYR 17733.7
1500 MYR 26600.55
2000 MYR 35467.4
3000 MYR 53201.1
5000 MYR 88668.5
10,000 MYR 177337
50,000 MYR 886685
100,000 MYR 1773370
1 Million MYR 17733700

BookMyForex is a fully authorized money exchanger regulated by the Reserve Bank of India (RBI). | License number : FE.DEL.FFMC/ U070/2013 | Insurance is the subject matter of solicitation | IRDAI Registration No. CA0429 | IRDAI | Cheques are subject to realization.

Same day delivery is guaranteed for orders placed before 1 pm (IST) Monday - Friday.

* Zero margin rates/ interbank rates are available only on forex cards on specific currencies, in select cities for orders amounting to Rs. 1 lakh or more

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