Compare our latest Malaysian Ringgit rates from top travel money providers and find the best deals for your holiday spending.
We're on a mission to improve the finances of the nation by helping you to spend wisely and save money
We're on a mission to improve the finances of the nation by helping you to spend wisely and save money
By Laura Rettie, Personal Finance Journalist.
When looking for travel money, you want to make sure you're getting the best deal. Find the latest Malaysian ringgit exchange rates and get the best deal for your next trip.
Officially, Malaysia is the only country or territory to use the Malaysian ringgit (MYR) as its currency. Although parts of Indonesia and the Philippines may also unofficially accept the ringgit.
There are a number of online providers that offer MYR for either collection or delivery. The exchange rates you find online are often much more competitive than those on the high street or in airports. Even so, it's worth shopping around and comparing your options to guarantee you get the best deal.
You'll likely find that you will get the best deal buying Malaysian ringgits before you leave, and it's a good idea to avoid exchanging currencies in airports, where exchange rates are notoriously poor. Major tourist areas in Malaysia will have ATMs and shops, and restaurants that accept major credit and debit cards.
Using your card abroad can be an expensive option, depending on your bank or card provider's foreign transaction fees and the exchange rates on offer.
If you're a regular traveller or just dislike the idea of carrying around significant amounts of cash, it might be a good idea to consider a prepaid travel card or, alternatively, a travel credit card. These are designed to be used abroad and will often come with low fees and the best exchange rates.
Knowing how much cash to take on holiday can be tough, and we've all returned from a trip with leftover foreign currency.
Many providers will now offer a buyback guarantee, where they will promise to buy back any Malaysian ringgit you have left after your holiday for the same exchange rate you purchased it for.
When travelling to and from Malaysia, you're permitted to carry ringgit notes up to the value of 10,000 US Dollars. There is no limit on how many other currencies you can carry, but you will need to declare any amount over 10,000 US Dollars or equivalent.
Each Malaysian ringgit is divided into 100 sen. Banknotes come in denominations of 1, 5, 10, 50 and 100 ringgits, while coins come in 5, 10, 20 and 50 sen.
The information provided does not constitute financial advice, it’s always important to do your own research to ensure a financial product is right for your circumstances. If you’re unsure you should contact an independent financial advisor.
You are able to buy travel money with a credit card, but exchanging currency is often treated like a cash withdrawal and so could end up being costly. It's usually better to buy currencies with a debit card.
You'll often find the best exchange rates when ordering currency online. Like with any online transaction, though, you do need to be careful. As long as you order from a reputable provider, buying currencies online is completely safe. It's a good idea to compare your options, read customer reviews and make sure you use a reliable service.
