The Malaysian Ringgit was officially introduced on June 12, 1967, and is the official currency of Malaysia. It is also unofficially used by parts of Indonesia, the Philippines and Thailand. The Malaysian Ringgit replaced the older Malaya and British Borneo Dollar. It is administered by the Bank Negara Malaysia, and is usually abbreviated to ‘MR’ or ‘RM’. The Malaysian Ringgit is also sometimes unofficially called the Malaysian Dollar.
You can simply purchase the MYR in India, by converting Indian Rupees to Malaysian Ringgit, in the form of currency notes in denominations of RM1, RM5, RM10, RM20, RM50 and RM100. The currency notes feature pictures of the first Seri Paduka Baginda Yang di-Pertuan Agong.
The Malaysian Ringgit is commonly used in international foreign exchange transactions. Tourism has rapidly become a vital component of the Malaysian economy, to the point that it is now Malaysia’s third-largest source of foreign exchange. With a steady flow of tourists in and out of Malaysia through the year, it’s no wonder that the Malaysian Ringgit is in high demand around the world. DoorstepForex.com offers the best forex rates for MYR across all the major cities of India. Along with best foreign currency exchange rates, you can get a chance to avail various forex offers to add more happiness to this deal.
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