Malaysia Money

Currency

Ringgit (MYR; symbol RM) = 100 sen. Notes are in denominations of RM100, 50, 10, 5, 2 and 1. Coins are in denominations of 50, 20, 10, 5 and 1 sen. The Ringgit is often referred to as the Malaysian Dollar.

Currency Exchange

The best currency for exchange is the Pound Sterling, but US Dollars are also widely accepted. All commercial banks are authorised foreign exchange dealers; major hotels are only licensed to buy or accept foreign currency in the form of notes and traveller's cheques. It may be difficult to exchange foreign currencies outside the main tourist centres.

Credit/Debit Cards and ATMs

American Express, Diners Club, MasterCard and Visa are widely accepted.

Traveller's Cheques

Accepted by all banks, hotels and large department stores. To avoid additional exchange rate charges, travellers are advised to take traveller's cheques in Pounds Sterling, US Dollars or Australian Dollars.

Currency Restrictions

Restrictions apply.

Banking Hours

Mon-Fri 0915-1630 (some branches open on Saturdays). Banks in Kelantan and Terengganu open Sun-Thurs 0915-1600/1630.

Exchange Rate Indicators

1.00 GBP = 5.64 MYR
1.00 USD = 3.38 MYR
1.00 EUR = 5.02 MYR
Currency conversion rates as of14 November 2009
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