Compare Exchange Rates to Buy Malaysian Ringgit (MYR)
Finding the best deal to buy Malaysian ringgit (MYR) can be difficult because every company has different exchange rates and fees. That’s where we help you. We bring together all your options, highlight the fees and rates per provider, and show you the best possible deals.
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Where to buy Malaysian ringgit in Australia?
You can buy Malaysian ringgit (MYR) from lots of places in Australia that offer currency exchange. It is a popular currency to exchange to Australian dollars. Places you can make cash transactions and buy Malaysian ringgit include online, in-store at money exchangers, banks, Australia Post and the airport.
To find out exactly where you can buy Malaysian ringgit, you can use our handy city and suburb guides, just click on the links below:
What currency is used in Malaysia?
Ringgit is the currency used in Malaysia and is represented by the symbol RM.
Notes: RM1, RM5, RM10, RM20, RM50 and RM100
Coins: 1 sen, 5 sen, 10 sen, 20 sen and 50 sen
Malaysian banknotes have different colours, RM1 is blue, RM5 is green, RM10 is red, RM20 is orangey - yellow, RM50 is bluey - green and RM100 is purple.
What notes should I take to Malaysia?
Cash and cards are popular in Malaysia. When paying for meals, in shops and accommodation, debit cards, credit cards, will be accepted as well as cash. Keep smaller notes to pay for tips, transport, smaller shops and street food.
When is the best time to buy Malaysian ringgit?
Find the best time to buy Malaysian ringgit with Australian dollars with our rate tracker. It keeps track of the MYR to AUD or AUD to MYR exchange rate and emails you when the exchange rate gets to the rate you chose to buy Malaysian ringgit.
The myr to aud exchange rate average is close to 0.33, over the past 10 years. The high was 0.39 in early 2020 and the low was 0.29 in early 2017. Currently it's 0.319, so RM1,000 could buy you $319 at the best exchange rate.
The aud to myr exchange rate average is close to 3.37, over the past 10 years. The high was 3.43 in early 2017 and the low was 2.52 in early 2020. Currently it's 3.13, so $100 could buy you RM3,130 at the best exchange rate.
How to buy Malaysian ringgit in Australia?
Buying Malaysian ringgit in Australia is relatively easy.
- Take your valid photo id (driver’s license or passport) with you.
- Bring your preferred payment method. Most places accept cash, debit card and credit card to pay for your Malaysian ringgit.
- Ask for the Malaysian ringgit amount and the money exchanger will let you know how much Australian dollars you need to pay.
- Make your payment in Aussie dollars and receive your Malaysian ringgit.
Our most frequently asked questions
Why should I choose The Currency Shop?
Many people are not aware of the true cost of transferring money. But it is pretty standard to lose up to 8% of your money each time you transfer money internationally, depending on your method. We think this is far too much. That’s why we help you find the best way to transfer your money and avoid those costly hidden fees and charges. And it works. On average, we save our customers $4,000 each year.
How does it work?
It’s pretty simple. Whether you need travel money or would like to transfer money overseas we just need a little info to point you in the right direction. First, you tell us what you are looking for then we compare hundreds of providers to find the best deal for your current situation. We’ll highlight all the available options and recommend the best one for you. You can then decide which option you prefer, and click through to their site to secure the deal.
Is it safe?
Yes. The Currency Shop holds an Australian Financial Services Licence (462269) and is a member of the Financial Ombudsman Service. We closely vet our providers and only partner with the largest, safest and most trusted money transfer companies in the world. That just makes sense.
What does it cost?
The Currency Shop does not charge you. Instead, we receive a referral fee from the banks and money transfer companies that we are partnered with. This does not affect the price you pay.
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