Today's MYR to INR Rate: 1 MYR = 17.77 INR.

The Malaysian Ringgit (MYR), Malaysia's official currency, is represented by the currency code MYR. Available in banknotes of RM100, RM50, RM20, RM10, RM5, and RM1, and coins worth 50 sen, 20 sen, 10 sen, and 5 sen, MYR has an interesting history dating back to the use of Spanish silver coins. Officially adopted in August 1975, it replaced the term 'dollar' in English, with 'RM' taking over from the '$' symbol in 1993. Divided into 100 sen, denominations include 1, 5, 10, 20, 50, and 100 Ringgit.

MYR to INR Exchange Rate - Last 10 Days: Recent rates include 17.77 on 21-June-24, 17.73 on 20-June-24, continuing with minor fluctuations over recent days.

In the 1990s, higher-denomination notes like the 500 and 1,000 Ringgit were demonetized to address money laundering. Beyond Malaysia, MYR is accepted in some border areas of countries like Indonesia and Thailand. The transition to the Malaysian Ringgit from the Malaya and British Borneo dollar began in June 1967 at a one-to-one rate, with the official naming to 'Ringgit' and 'Sen' happening in August 1975.

Converting MYR to INR Online

Converting Malaysian Ringgit to Indian Rupees online utilizes currency converters that provide real-time exchange rates. As of October 9, 2023, the conversion rate stands at 1 MYR = Rs. 17.6698. These converters offer tables for popular conversions and historical charts. Currency calculators, frequently updated, display live rates that align with interbank rates usually found on major search engines. They generally offer more competitive rates than traditional sources.

Factors Influencing Malaysian Ringgit's Value:

1. Global Emerging Markets: Changes in these markets influence the MYR by affecting investor sentiment and capital flows, potentially causing exchange rate fluctuations.
2. Political Sentiment in Malaysia: Political stability significantly impacts MYR's value, with events and decisions affecting investor confidence and the exchange rate.
3. Commodity Prices: As an exporter of commodities like oil and gas, price changes can influence MYR's strength. High prices often lead to appreciation, while low prices can cause depreciation.
4. Offshore Trading: Non-deliverable forward trading without Malaysia's physical presence impacts MYR, which remains non-tradable offshore. Regulatory measures have been enacted to control such transactions.

These factors collectively affect the dynamic exchange rate of the Malaysian Ringgit, crucial for evaluating its place in the foreign exchange market.