Malaysia Money and Exchange Rate

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.

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.

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

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.

Restrictions apply.

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

1.00 GBP = 4.97 MYR

1.00 USD = 3.32 MYR

1.00 EUR = 4.53 MYR

Currency conversion rates as of 11 March 2010