Who doesn’t like exploring the world, but what stops many is the fluctuating exchange rate and lack of a reliable forex partner. If you are planning to visit Malaysia in the near future, then you must check out the current 1 INR to MYR
exchange rate. But, if you are unsure about Malaysia and INR to MYR forex rate, then we have got something that will urge you to pack your bags and head straight to Malaysia.
Malaysia is located in the Southeast region of Asia and occupies areas of the Malay Peninsula and island of Borneo. The country is known for its prehistoric rainforests, beaches, and colonial buildings; for these and many other such reasons Malaysia is rightly called the ‘Heart of Asia’. If you want to enjoy a glimpse of European cultural influence, then Malaysia is a classic example.
Importance of the Malaysian Ringgit
The MYR is the currency code of the Malaysian Ringgit. The Malaysian Ringgit or the MYR is designated to be the official currency of Malaysia. The Malaysian Ringgit currency code is MYR while it is abbreviated as RM. The Malaysian Ringgit is also referred to as the Malaysian Dollar. Malaysia is one of the most important economies of Southeast Asia due to this the Malaysian Ringgit is an important currency. Earlier, the Malaysian economy relies upon the export of agricultural products and natural minerals. However, currently with changing times the maximum Malaysian economy earns money through IT services.
Introduction of the Malaysian Ringgit
The history of the Malaysian Ringgit has changed. Here are some important facts related to the Malaysian Ringgit:
1. The Malaysian Ringgit came into existence in the year 1967.
2. The Malaysian Ringgit replaced the Malayan Dollar and the British Borneo.
3. In 1975, the official name of the currency of Malaysia became 'Ringgit'.
4. Between 1998 to 2005 the Malaysian Ringgit was pegged to the USD.
5. The foreign currency exchange rate between 1998 to 2005 of MYR to USD was 1 US Dollar = 3.80 Malaysian Ringgit.
6. The Malaysian Ringgit abandoned the pegging to the US Dollar in the year 2005.
7. Since 2005 the Malaysian Ringgit has been a floating currency.
Factors that affect the exchange of the Malaysian Ringgit to INR
The foreign currency rates in the forex market keep on fluctuating. The Malaysian Ringgit and Indian Rupee keep fluctuating around the same rate i.e., 1 MYR = 18.53 INR (today's current rate). Today's given rate states that approximately 18.53 INR will be equivalent to 1 Malaysian Ringgit. To get the best foreign exchange rate it is best to check the current prevailing rate before sending or receiving money. Understanding the rate fluctuations, and forex trends, and keeping a close eye on the current foreign exchange rates will help in getting the best exchange rate for your currency. Additionally, commodity prices, interest rates, political decisions, economic stability, etc. are a few other important factors that affect the exchange rate.
Convert Malaysian Ringgit to INR Online as per Today's Conversion Rate
The conversion of foreign currency can be done in two ways namely: by using the currency conversion calculator available online or it can be done manually. Doing the currency conversion by self is very easy and simple. Let us understand the currency conversion between the Malaysian Ringgit and the Indian Rupee with the help of an example.
Mr. Lee wants 2000 MYR from his Indian business partner but struggles to understand how much Indian rupee shall be equivalent to 2000 MYR.
So, today's MYR to INR rate is 1 MYR = 18.53 INR. So, 2000 MYR = 2000*18.53 = 37055.04 INR.
For foreign currency exchange, you need to check the latest currency exchange rate.
Convert Malaysian Ringgit to INR
Above we have seen how to convert the Malaysian Ringgit to Indian Rupee. Let us now understand how it works the other way round i.e., how much value does the Indian Rupee hold in Malaysian Ringgit? Today's INR to MYR currency exchange rate is 1 INR = 0.054 MYR. So, 100 Rupees will be equivalent to 5.40 Malaysian Ringgit.
How are Malaysian Ringgit -INR Rates Determined?
The foreign exchange currency rates are dependent on whether the exchange rate is at a floating rate or a fixed rate. If a currency is pegged to another currency then it is called a fixed rate. If it is not attached to another currency and the rate of the currency depends on the economic decisions of the government and banks then it is said to be at a floating rate. Additionally, the central banks of both Malaysia and India are responsible for determining the rates of their currency from time to time.
Malaysian Ringgit and INR Overview
The Malaysian Ringgit and Indian Rupee have been closely traded. Today's current rate is 1 MYR = 18.53 INR. The following table shows the statistics between the Malaysian Ringgit and Indian Rupee.
| Details |
Statistics of the last 30 days |
Statistics of the last 90 days |
| High |
18.635 INR |
19.402 INR |
| Low |
18.466 INR |
18.116 INR |
| Average |
18.578 INR |
18.677 INR |
If you have made up your mind to visit Malaysia , you must have even started planning your trip, isn't it? However, your planning is incomplete and insufficient if you haven't accounted for the exchange rate of the Malaysian Ringgit (MYR). MYR is the official currency of Malaysia.
Knowing the on-going INR to MYR exchange rate could improve your planning multifold. By considering the value 1 INR to MYR, you will be able to estimate a realistic cost of your upcoming trip.
Are you looking for a reliable forex partner?
At Thomas Cook, we value the trust of our customers and constantly work towards enriching their travel experiences by offering world-class travel solutions and the most competitive INR to MYR exchange rates. After being in the travel industry for decades, we understand the pain points of travelers better than anyone else and thus have transformed ourselves into a one-stop-solution for all your travel requirements. Business and leisure travelers across the world vouch for our service and competitive Indian Rupee to Ringgit exchange rate.
Want to know the live Indian Rupee to Ringgit exchange rate?
Visit our 24x7 online currency converter tool that will provide you with real-time Ringgit to Rupee exchange value. You can also visit your nearest Thomas Cook branch or call our forex expert to understand the complicated math involved in forex.
To further simplify your experience at Thomas Cook, we facilitate you to convert INR to MYR online in just a few clicks. To buy forex online , you are required to visit the Thomas Cook website, fill in the required details, and we will deliver your forex at your doorstep in not more than 24 hours. Buy forex at Thomas Cook and stay safe from the hassle of finding reliable forex partner in Malaysia.
Want to convert INR to MYR? Visit Thomas Cook now and buy forex online at the most competitive prices and have a memorable trip to Malaysia.
