MYRMalaysian RinggitMalaysian Ringgit (MYR)
The Malaysian ringgit is Malaysia's national currency and a key unit for Southeast Asian manufacturing, commodities and regional trade.
- ISO code
- MYR
- Symbol
- RM
- Region
- Asia Pacific
- Currency type
- Fiat currency
- Exchange system
- Bank Negara Malaysia is the central bank responsible for issuing ringgit banknotes and maintaining the currency system.
- Last reviewed
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MYR converter
MYRRate date:
Quick facts
MYR at a glance
Currency profile
How MYR works
The Malaysian ringgit is Malaysia's national currency and a key unit for Southeast Asian manufacturing, commodities and regional trade.
Bank Negara Malaysia is the central bank responsible for issuing ringgit banknotes and maintaining the currency system.
- MYR is divided into 100 sen and is commonly displayed with the domestic abbreviation RM.
- The official ringgit name replaced the former Malaysian dollar terminology in the 1970s.
Context
Why this currency matters
MYR is a practical regional currency because Malaysia sits within dense Southeast Asian production and transport networks. The ringgit's history also includes a 1998 fixed-rate period and the return to a managed arrangement in 2005, context that helps separate policy history from today's dated reference conversions.
Monetary framework
Exchange arrangement
Bank Negara Malaysia is the central bank responsible for issuing ringgit banknotes and maintaining the currency system.
CurrencyHub shows daily reference rates. Banks, card networks, ATMs and transfer providers may apply different exchange rates, fees or spreads.
History timeline
Key dates for MYR
Malaysian dollar introduced
Malaysia introduced its own currency after the earlier shared currency-board arrangement ended.
Bank Negara Malaysia - about the bankRinggit name adopted officially
The names ringgit and sen became the official national terminology for the currency and subdivision.
Bank Negara Malaysia - about the bankFixed U.S.-dollar rate ended
Malaysia ended the fixed 3.80 MYR per USD arrangement and moved to a managed exchange-rate framework.
Bank Negara Malaysia - about the bank
Usage and economy
How MYR is used
- Prices, payroll and payments across Malaysia.
- Regional trade, travel and cross-border comparisons with SGD, THB, IDR and BND.
Country currency guides
Banknotes and coins
MYR currency units
Bank Negara Malaysia documents the ringgit banknote series used in circulation.
Bank Negara Malaysia documents sen and ringgit coins within the national currency system.
One Malaysian Ringgit unit is recorded with 2 decimal places and uses Sen as its minor unit.
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Currency relationships
Explore currencies connected through regional use, trade comparisons or monetary relationships.
Currency topics
FAQ
MYR questions
Why is MYR important in Southeast Asian trade?
Malaysia's electronics, commodities, logistics and services sectors create regular ringgit comparisons across the region.
Are ringgit and Malaysian dollar different currencies?
No. Malaysian dollar is the older English name; ringgit is the official name used today with code MYR.
What does RM mean on Malaysian prices?
RM is the familiar domestic abbreviation for ringgit Malaysia, while MYR is the international ISO code.
Sources
Data and editorial review
Rate source: Frankfurter
Last reviewed:
Currency identity and cash information is checked against central-bank, government, ISO and official international sources.