Malaysia buy · Money and Shopping in Malaysia  TodayTourism All Destinations | Europe | Asia | North America | Africa | South America | Oceania | Hotels

Money and Shopping in Malaysia


Money and Shopping in Malaysia

The Malaysian currency is the ringgit, informally known as the dollar (the "$" symbol can be seen on older notes) and abbreviated RM or MYR, is divided into 100 sen. There are coins of 5, 10, 20, and 50 sen as well as bills of RM1, 2 (rare), 5, 10, 50 and 100. 5 sen coins are mainly given as change in large establishments and supermarkets, peddlers and street vendors might be reluctant to accept them. Note that the Singapore and Brunei dollars are also known as ringgit in Malay, so when near border areas you might want to check to be sure which currency they are quoting the price in. Ringgits are freely convertible. Foreign currencies are not generally accepted, although you might get away with exchanging some Euros or US dollars even in more remote areas, but do expect a lot of stares and some persuasion. The major exception is Singapore dollars, which are accepted by KTMB and toll roads, but at a highly unfavorable 1:1 exchange rate (an anomaly dating back to when the ringgit was interchangeable with the Singapore dollar, prior to the 1970s). Banks and airports are not the best places to exchange money if it is not urgent. Licensed money changers in major shopping malls often have the best rates - be sure to say the amount you wish to exchange and ask for the 'best quote' as rates displayed on the board are often negotiable, especially for larger amounts. ATMs are widely available in cities, but do stock up on cash if heading out into the smaller islands or the jungle. Credit cards can be used in most shops, restaurants and hotels, although skimming can be a problem in dodgier outlets.

The Most Frequently Asked Travel Questions about Malaysia


Where To Stay & Best Hotels in Malaysia - updated Mar 2024

SAVE up to 75% on Last Minute deals! Search for discount Malaysia hotels, motels, apartments, hostels, guest accommodations and vacation resorts. Book now and pay at the hotel. Instant email confirmation!


>>> SEARCH FOR DEALS <<<

WHERE TO TRAVEL NEXT IN 2020


Malaysia Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.

Europe | Asia | North America | Africa | South America | Oceania | All Destinations