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Singapore DollarThe currency of Malaysia
Malaysian
RinggitMYR
The currency of Malaysia is the Malaysian ringgit (MYR), divided into 100 sen and issued by Bank Negara Malaysia. It has moved in a managed float since 2005: one ringgit costs ₹24.97 at our selling rate right now.
- Code
- MYR
- Symbol
- RM
- Subunit
- 100 sen
- In use since
- 1967
What is the currency of Malaysia?
The currency of Malaysia is the Malaysian ringgit, code MYR, written RM. One ringgit is divided into 100 sen, and Bank Negara Malaysia, the central bank, is the sole issuer of both notes and coins. Malaysia has had its own currency since 12 June 1967, first as the Malaysian dollar, and an Act of 1975 renamed it the ringgit. Since 21 July 2005 it has moved in a managed float, so against the rupee it moves with the market: on 5 Oct 2026, one ringgit was worth about ₹24.97 at our selling rate. A quote in MYR currency always means this ringgit and not the Singapore dollar, which is a separate currency at a different value.
Malaysian Ringgit at a glance
- Currency
- Malaysian ringgitIn Malay, ringgit Malaysia
- Code
- MYRNumeric code 458
- Symbol
- RMShort for Ringgit Malaysia, written before the amount
- Subunit
- 1 ringgit = 100 senThe 1 sen coin was discontinued on 1 April 2008
- Issuer
- Bank Negara MalaysiaThe sole issuer of ringgit notes and coins
- Introduced
- 1967As the Malaysian dollar; renamed the ringgit in 1975
- Exchange rate
- Managed floatSince 21 July 2005, after a peg from 1998
- Used in
- Malaysia
- Banknotes
- RM1, RM5, RM10, RM20, RM50 and RM100The Fourth Series, from 2012; the RM1 and RM5 are polymer
- Coins
- 5, 10, 20 and 50 senThe 1 sen coin is no longer made
Malaysia currency notes and coins
Malaysian money comes as six banknotes and four coins. The notes are the Fourth Series, which entered circulation in 2012 (the RM50 design dates from 2007 to 2009), colour-coded and longer as the value rises, from 120 mm for the RM1 to 150 mm for the RM100. The RM1 and RM5 are polymer, and every note shows the first Yang di-Pertuan Agong on its front. Each note is shown with what it costs in rupees at our selling rate today.
- Bank Negara MalaysiaOne ringgitRM1
One ringgit RM1
≈ ₹24.97 today- Colour
- Blue
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- A wau bulan, the moon kite
- Bank Negara MalaysiaFive ringgitRM5
Five ringgit RM5
≈ ₹124.84 today- Colour
- Green
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- A rhinoceros hornbill
- Bank Negara MalaysiaTen ringgitRM10
Ten ringgit RM10
≈ ₹249.68 today- Colour
- Red
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- A Rafflesia flower
- Bank Negara MalaysiaTwenty ringgitRM20
Twenty ringgit RM20
≈ ₹499.36 today- Colour
- Orange
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- Hawksbill and leatherback turtles
- Bank Negara MalaysiaFifty ringgitRM50
Fifty ringgit RM50
≈ ₹1,248.39 today- Colour
- Green-blue
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- An oil palm and biotechnology
- Bank Negara MalaysiaOne hundred ringgitRM100
One hundred ringgit RM100
≈ ₹2,496.78 today- Colour
- Purple
- Front
- Tuanku Abdul Rahman, the first Yang di-Pertuan Agong
- Back
- Mount Kinabalu and the Gunung Api pinnacles in Mulu National Park
Coins, in sen
The hibiscus, the national flower, is on one side of every coin. The other side shows a traditional headdress on the 5 sen, an Orang Asli motif on the 10 sen, jasmine on the 20 sen and bean tendrils on the 50 sen. The 5 and 10 sen are silver-coloured stainless steel, and the 20 and 50 sen are yellow nickel brass.
- 55 sen
≈ ₹1.25 - 1010 sen
≈ ₹2.50 - 2020 sen
≈ ₹4.99 - 5050 sen
≈ ₹12.48
Sources: Bank Negara Malaysia, Distinctively Malaysia banknotes; Bank Negara Malaysia, coins; colours as printed. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
- Indian rupeeUntil 1 April 1867
The East India Company tried to make it the only official money, and accounts were kept in rupees.
- Silver dollarsSpanish and Mexican
The coins traders kept using. From 1 April 1867 the Settlements recognised them instead of the rupee.
- Malaya and British Borneo dollarUntil 12 June 1967
The dollar of the region, replaced at par that day by the Malaysian dollar.
- Malaysian dollar1967 to 1975
Issued by Bank Negara Malaysia, in dollars and cents, with the first Yang di-Pertuan Agong on its notes.
- Singapore and Brunei dollarsFrom 12 June 1967
Launched the same day. Malaysia left the par agreement on 8 May 1973, and Singapore and Brunei kept theirs.
- Malaysian ringgitSince August 1975
The Malay names ringgit and sen replaced dollar and cent. Ringgit means jagged, from the milled edge of Spanish dollars.
The rupee before the ringgit
In 1826 the East India Company joined Penang, Malacca and Singapore into the Straits Settlements and ran them from Bengal. It wanted the Indian rupee to be their money, but traders kept using Spanish silver dollars, and the ringgit is named after the jagged edge of that coin.
The Straits Settlements begin
The East India Company joins Penang, Malacca and Singapore as the Straits Settlements and governs them from Bengal. It tries to make the Indian rupee the sole official currency, while traders keep using Spanish and Mexican silver dollars.
The rupee loses legal tender status
The Settlements pass from the India Office to the Colonial Office. The Indian rupee loses its legal tender status and silver dollars are recognised instead.
The ringgit gets its name
The Malaysian Currency (Ringgit) Act 1975 is published in the Gazette, and it comes into operation the next day. Ringgit and sen replace dollar and cent, and ringgit is Malay for jagged, from the milled edge of the Spanish silver dollar.
The link is people
Indians were 6.9 percent of Malaysian citizens in 2020, and 1.56 million Indian visitors came in 2025. Malaysian Tamil speakers call the ringgit velli, which is Tamil for silver, and the sen kacu.
Sources: Wikipedia, "Straits dollar" and "Transfer of the Straits Settlements", with encyclopedia.com for the 1826 and 1867 dates; Laws of Malaysia, Malaysian Currency (Ringgit) Act 1975; Government of Malaysia portal; The Star, 27 August 2026; Department of Statistics Malaysia, 15 July 2020; Malay Mail, 5 April 2026; Wikipedia and comparehero.my on the Tamil names.
A ringgit that left its peg
The ringgit was held at RM3.80 to the US dollar from 1998 to 2005. Since 21 July 2005 it has moved with the market in a managed float, so its price in rupees changes from day to day.
Pegged at RM3.80 from 1998
On 2 September 1998 Bank Negara Malaysia announced that the ringgit would be quoted at RM3.80 to the US dollar. The peg lasted until 21 July 2005.
A managed float since 2005
On 21 July 2005 the peg ended with immediate effect. The ringgit now floats under management, its value set by economic fundamentals and monitored against a basket of the currencies of Malaysia's major trading partners.
The rupee price moves daily
Because the ringgit floats, its price in rupees can change from one day to the next, so check the rate on the day you book.
One unit in rupees · our selling rate, 5 Oct 2026
The ringgit since 1967
Malaysia has had its own currency since 1967, first as the Malaysian dollar and since 1975 as the ringgit. What changed along the way, in eight entries.
- EntryMalaysia
The Malaysian dollar begins
On 12 June the Malaysian dollar, issued by Bank Negara Malaysia, replaces the Malaya and British Borneo dollar at par, while Singapore and Brunei issue their own currencies. The first notes show the first Yang di-Pertuan Agong, whose portrait is still on every note today.
Launch - EntryMalaysia
Malaysia leaves the par agreement
On 8 May Malaysia withdraws from the 1967 agreement that made the Malaysian, Singapore and Brunei dollars exchangeable at par. Singapore and Brunei keep theirs, and it continues today.
- EntryMalaysia
Dollar becomes ringgit
The Malaysian Currency (Ringgit) Act 1975 is published on 28 August and comes into operation on 29 August. The Malay names ringgit and sen replace dollar and cent.
New name - EntryMalaysia
RM replaces the dollar sign
The currency symbol changes from $ to RM, short for Ringgit Malaysia.
- EntryMalaysia
The peg and the high notes
On 2 September Bank Negara Malaysia announces that the ringgit will be quoted at RM3.80 to the US dollar. On 12 September it announces that the RM500 and RM1,000 notes will stop being legal tender on 1 July 1999.
- EntryMalaysia
The peg ends
On 21 July the peg ends with immediate effect and the ringgit moves to a managed float. In December the RM1 coin is withdrawn after an exchange period, because of low demand: it was under 1 percent of the value of currency in circulation.
- EntryMalaysia
The 1 sen coin ends
On 1 April the 1 sen coin is discontinued, though it stays legal tender, and the total of a bill is rounded to the nearest 5 sen. The rounding applies to the total, not to each item.
Coin ends - EntryMalaysia
The Fourth Series
The current banknotes, themed Distinctively Malaysia, enter circulation in 2012, with a new set of coins from January. The RM50 design is older, dating from 2007 to 2009.
New notes
Sources: Bank Negara Malaysia, banknote, coin and exchange rate pages and releases; Government of Malaysia portal, currency; The Star, 27 August 2026; Wikipedia, "Malaysian ringgit" and its page on the Brunei and Singapore currency agreement.
Ringgit and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the MYR to INR or INR to MYR converter.
| You pay | You get |
|---|---|
| ₹5,000 | RM 200.26 |
| ₹10,000 | RM 400.52 |
| ₹25,000 | RM 1,001.29 |
| ₹50,000 | RM 2,002.58 |
| ₹1,00,000 | RM 4,005.16 |
| ₹2,00,000 | RM 8,010.32 |
| You buy | It costs |
|---|---|
| RM 100 | ₹2,496.78 |
| RM 250 | ₹6,241.95 |
| RM 500 | ₹12,483.90 |
| RM 1,000 | ₹24,967.80 |
| RM 5,000 | ₹1,24,839.00 |
| RM 10,000 | ₹2,49,678.00 |
Spending ringgit in Malaysia
Three things about Malaysian money that help on the first day.
Bill totals round to 5 sen
Since 1 April 2008 the total of a bill is rounded to the nearest 5 sen: totals ending in 1, 2, 6 or 7 sen round down, and those ending in 3, 4, 8 or 9 round up. Items are not rounded, only the total. The smallest note is the blue RM1, about ₹24.97, and the RM5 is about ₹124.84.
Totals end in 0 or 5 senDuitNow QR and UPI
DuitNow QR is the QR payment scheme of Payments Network Malaysia (PayNet), which cites 2.9 million merchants. NPCI International and PayNet signed an agreement on 12 February 2026 to let Indian travellers pay there with UPI apps, but no start date is published, so do not rely on it yet. RuPay acceptance in Malaysia is not confirmed either, so carry some ringgit as well.
UPI link agreed, not confirmed liveA service charge, not tips
Tipping is not the norm in Malaysia. Hotels and many restaurants add a 10 percent service charge in place of a tipping system, and it is shared with staff. Sales and service tax is charged separately.
Service charge about 10%Taking Malaysian ringgit from India
The Reserve Bank of India's rules apply to every currency, and the Malaysian ringgit is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as Malaysian ringgit notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
The Malaysian ringgit is on our booking form. Send your amount and the desk confirms your exact rate before anything is booked.
Book Malaysian Ringgit→Malaysian ringgit questions
The questions people type about the Malaysian ringgit, answered in full, in three groups.
The basics
7 questionsWhat is the currency of Malaysia?
The currency of Malaysia is the Malaysian ringgit, code MYR, divided into 100 sen. It is the only legal tender in Malaysia, and Bank Negara Malaysia, the central bank, is the sole issuer of its notes and coins.
What is the full form of MYR in currency?
MYR stands for Malaysian Ringgit, the three-letter code for the ringgit in the ISO 4217 standard, which also gives it the numeric code 458. That is the MYR full form, and MYR currency simply means the Malaysian ringgit.
What is the Malaysian ringgit symbol?
The Malaysian ringgit symbol is RM, short for Ringgit Malaysia, written before the amount with no space, as in RM50. It is the Malaysia currency symbol that replaced the dollar sign in 1993. A price marked in RM, or searched as RM currency, is always in ringgit.
Malaysia ki currency kya hai?
Malaysia ki currency Malaysian ringgit (MYR) hai. Ek ringgit mein 100 sen hote hain, aur 5 Oct 2026 ko ek ringgit lagbhag ₹24.97 ka tha, hamare selling rate par. Malaysia ki currency ka symbol RM hai.
What is the Malaysia currency name?
The Malaysia currency name is the Malaysian ringgit, or ringgit Malaysia in Malay, and the word is the same for one or many. It is also searched as Malaysian currency, Malaysian money, RM currency or the old name, Malaysian dollar. Ringit and ringgits are misspellings, because the plural is also ringgit.
What does the word ringgit mean?
Ringgit is Malay for jagged. It comes from the serrated, milled edges of the Spanish silver dollars that circulated in the region, and Malaysian Tamil speakers call the ringgit velli, which means silver.
How many sen make one ringgit?
One ringgit is 100 sen, and the coins are 5, 10, 20 and 50 sen. The 1 sen coin was discontinued on 1 April 2008 but stays legal tender, and the total of a bill is rounded to the nearest 5 sen. The rounding applies to the bill total, not to each item on it.
Value and history
6 questionsIs the ringgit fixed or floating?
The ringgit is on a managed float. Bank Negara Malaysia pegged it at RM3.80 to the US dollar from 2 September 1998, and on 21 July 2005 it ended the peg, so its value is now set by economic fundamentals and monitored against a basket of currencies.
When did Malaysia start using the ringgit?
Malaysia has had its own currency since 12 June 1967, first as the Malaysian dollar. The Malaysian Currency (Ringgit) Act 1975 was published on 28 August 1975 and came into operation the next day, replacing dollar and cent with ringgit and sen.
Which Malaysian banknotes are in use?
Six notes from the Fourth Series: the RM1 (blue), RM5 (green), RM10 (red), RM20 (orange), RM50 (green-blue) and RM100 (purple), which entered circulation in 2012, with the RM50 design dating from 2007 to 2009. All carry the first Yang di-Pertuan Agong and the hibiscus, and the RM1 and RM5 are polymer. The backs show a moon kite, a hornbill, a Rafflesia, turtles, oil palm and Mount Kinabalu.
Are the Petronas Towers on Malaysian money?
No, they are not on any current note or coin. They were printed on the back of the older Third Series RM5, issued on 27 September 1999, which can still turn up because Bank Negara Malaysia says older series remain legal tender and we found no end date. The current RM5 shows a rhinoceros hornbill.
Are old Malaysian ringgit notes still valid?
Mostly yes: Bank Negara Malaysia says older series remain legal tender beside the current one, and we found no end date for them. The RM500 and RM1,000 notes stopped being legal tender on 1 July 1999, and the bank has said it will not bring them back. So an RM500 or RM1,000 note offered to you today is not valid money.
What is the India link to the ringgit?
The link is people and history. Indians were 6.9 percent of Malaysian citizens in 2020, according to the Department of Statistics Malaysia, and the Malaysian High Commissioner says 1.56 million Indian visitors came in 2025. The East India Company, which governed Penang and Malacca from Bengal, once tried to make the rupee their only official currency, and Malaysian Tamil speakers call the ringgit velli, meaning silver.
Buying from India
4 questionsCan Indians visit Malaysia without a visa?
Under the visa exemption Malaysia has announced until 31 December 2026, Indian citizens can stay for up to 30 days without a visa, though not to work or study, and the stay cannot be extended in Malaysia. You must also fill in the Malaysia Digital Arrival Card online before you arrive. Entry rules can change, so check the latest official Malaysian notice before you travel.
Does UPI or RuPay work in Malaysia?
Not yet confirmed. NPCI International and Payments Network Malaysia (PayNet) signed an agreement on 12 February 2026 to link UPI and DuitNow QR, so that Indian travellers can pay at DuitNow QR merchants with UPI apps, but no start date is published and we found no report that it is live. RuPay acceptance in Malaysia is also unconfirmed, so carry ringgit and check the NPCI International and PayNet announcements before relying on either.
What is the RBI cash limit for taking ringgit abroad?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit. Malaysia has its own cash rules for visitors, so declare any large sum and do not plan to carry more than a few thousand ringgit.
How do I order ringgit before a trip to Malaysia?
Order them before you fly. Matrix Forex, an RBI-authorised Category-II dealer, has Malaysian ringgit on its booking form: send your amount through the booking bar at the top of this page and the desk confirms your exact rate before anything is booked. For the live rate on any amount, see the MYR to INR converter.