What Is the Currency of Malaysia? – Everything You Need to Know About the Malaysian Ringgit (MYR)

💰 Official Currency of Malaysia

The official currency of Malaysia is the Malaysian Ringgit (MYR).
Its international currency code is MYR.

The Malaysian Ringgit is the legal tender used for shopping, public payments, commercial transactions, and all financial activities throughout the country.

🏛️ A Brief History of the Malaysian Ringgit

The Malaysian Ringgit has been in use since 1967 and is issued and regulated by Bank Negara Malaysia (the Central Bank of Malaysia).

Malaysia is one of the Southeast Asian countries that has consistently maintained its own national currency. For many years, the country’s monetary policy has been managed through the Ringgit.

💹 Malaysian Ringgit Abbreviation and Symbol

• Abbreviation: MYR

• Symbol: RM

• Subunit: 1 ringgit = 100 sen

Thanks to regional economic stability, the Malaysian Ringgit is considered one of the more reliable currencies in Southeast Asia.

💱 Malaysian Banknotes and Coins

The Malaysian Ringgit is available in both banknotes and coins:

📌 Banknotes

1, 5, 10, 20, 50, and 100 RM

📌 Coins

5, 10, 20, and 50 sen; 1 RM

This variety provides convenience for both everyday purchases and larger transactions.

💸 Can You Send Money from Turkey to Malaysia?

Yes.

With PayPorter, sending money from Turkey to Malaysia is fast, secure, and cost-effective.

Thanks to PayPorter’s international transfer network, funds sent to bank accounts in Malaysia usually reach the recipient within a short time.

🔹 PayPorter Advantages

• Low transaction fees

• Fast transfer process

• Secure and licensed infrastructure

• Money transfers to more than 185 countries

📍 To send money from Turkey to Malaysia, you can visit the relevant page on our website.

🌍 Can the Malaysian Ringgit Be Used in Turkey?

No.
The Malaysian Ringgit is only valid within Malaysia.

However, some banks and exchange offices in Turkey offer MYR exchange services.
Additionally, PayPorter enables secure money transfers from Malaysia to Turkey.

💡 Interesting Facts About the Malaysian Ringgit

• Both cash and digital payments are widely used in Malaysia, although cash still plays an important role in daily transactions.

• Banknotes feature iconic landmarks, cultural motifs, and historical figures of Malaysia.

• The Ringgit generally shows low volatility thanks to regional economic stability.

❓ Frequently Asked Questions About the Malaysian Currency (FAQ)

What is the official currency of Malaysia?

The official currency of Malaysia is the Malaysian Ringgit (MYR).

Is the US dollar accepted in Malaysia?

No. While it may be accepted in some tourist areas, the only official payment currency is MYR.

Can I exchange Malaysian Ringgit in Turkey?

Yes. Some banks and exchange offices in Turkey offer MYR exchange services.

Can I send money from Turkey to Malaysia?

Yes. You can send money to Malaysia quickly and securely with PayPorter.

How long does it take for money sent to Malaysia to arrive?

PayPorter transfers usually reach the recipient within a short time.

Is credit card usage common in Malaysia?

Yes. Credit cards and mobile payments are widely used, especially in major cities.

Can I withdraw cash from ATMs in Malaysia?

Yes. Most international cards are accepted, although fees may vary depending on the bank.