MYR · RM
Malaysian Ringgit (MYR)
The Malaysian ringgit (MYR) is the official currency of Malaysia, issued by Bank Negara Malaysia. It has a managed float and is used in one of Southeast Asia's key economies.
Convert this currency
Converted amount
0.2447 USD
Exchange rate
1 MYR = 0.244678 USD
Updated
8/9/2026 12:00 AM
Source
ApiForex Managed Source 3
MYR · Malaysian Ringgit
Malaysian Ringgit (MYR): Overview and History
The Malaysian ringgit (MYR) is the official currency of Malaysia, issued by Bank Negara Malaysia. Its ISO 4217 code is MYR, and it is subdivided into 100 sen. The ringgit is used in all transactions within Malaysia, reflecting the country's economic activities in trade, manufacturing, and services.
The currency has a history that includes pegging to the US dollar from 1998 to 2005, after which it moved to a managed float against a basket of currencies. Bank Negara Malaysia manages the exchange rate to maintain stability, which is important for the country's export-oriented economy.
As a regional currency, the ringgit is influenced by global commodity prices, particularly oil and gas, as well as trade flows with major partners like China and Singapore. It is not a reserve currency, but it plays a significant role in regional trade and investment.
- Code
- MYR
- Symbol
- RM
- Current rate
- USD / MYR
Currency information
Last updated · 8/7/2026
The Malaysian ringgit was introduced on June 12, 1967, replacing the Malaya and British Borneo dollar.
- Official name
- Ringgit Malaysia
- Legal tender status
- Legal tender in Malaysia
- Decimal places
- 2
- Minor unit
- Sen · 1 MYR = 100 Sen
- Countries
- Malaysia
- Issuing authority
- Central Bank of Malaysia
- Central bank
- Central Bank of Malaysia · Official website
- Exchange-rate regime
- Managed float
Common banknotes
RM1 · RM5 · RM10 · RM20 · RM50 · RM100
Common coins
5 sen · 10 sen · 20 sen · 50 sen
Also known as
Ringgit · Malaysian Ringgit · Ringgit Malaysia · MYR · RM
Practical notes
- The symbol RM is used for the ringgit.
- The word 'ringgit' means 'jagged' in Malay, referring to the serrated edges of Spanish silver dollars.
Priority currency pairs
The most useful conversions for this currency.
Malaysian Ringgit questions
What is the MYR exchange rate?
The displayed rate is the latest available reference rate for USD/MYR. It can change throughout the day.
How can I convert MYR online?
Use the converter above to calculate indicative amounts between MYR and the other supported currencies.