Currency Guide Malaysia

Currency

Malaysian Ringgit = 100 sen. Notes are in denominations MYR100, 50, 10, 5, 2, 1

To view images and descriptions of all these denominations [click here]

Credit Cards

Major credit cards such as American Express, Mastercard, Visa and Diners Club are generally accepted at hotels, shopping centres and larger restaurants.

Currency Regulations

The import and export of local currencies is limited to MYR1,000.

The import of foreign currencies is free.

The export of foreign currencies is limited to the equivalent of MYR10,000, more if it was declared on entry; except for Israeli and Yugoslavian, which require permission of the controller of foreign exchange. Permission is needed for the import or export of Malaysian notes by post and for the export of foreign notes by any other means.

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Currency Exchange

Major hotels and larger establishments readily accept currencies such as US Dollars, Pounds Sterling, Euros, Japanese Yen, and Australian Dollars. Travellers checks are accepted at banks, hotels, and large department stores. However, to avoid exchange rate charges, carry travellers cheques in Pounds Sterling, US Dollars, or Australian Dollars. Foreign currencies can be readily exchanged to local currency at a bank or moneychanger. It is difficult to exchange Malaysian money outside of Malaysia, Singapore or Indonesia.

Banks

Banking hours in Malaysia are generally Monday to Friday from 09:30-15:00, Saturdays from 09:30 to 11:30. Banks in Sabah open at 08:00 and break for lunch between 12:00-14:00.

Exchange Rate History

Date   MYR Rate
01/01/02   5.380
01/01/03   5.940
01/01/04   6.613
01/01/05   7.286
01/01/06   6.327

A rough guide to the tourists rates for the Malaysian Ringgit since the beginning of 2002

View Malaysian Ringgit exchange Rate

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