MYR to INR: Malaysian Ringgits To Indian Rupees Online

The MYR to INR conversion refers to exchanging Malaysian Ringgit (MYR) for Indian Rupees (INR). The exchange rate between these two currencies can fluctuate due to various factors like changes in interest rates, economic stability, and political events in Malaysia and India. The rate tells you how many Indian Rupees you can get for one Malaysian Ringgit. If you plan to convert MYR to INR, check the latest exchange rate to know how much money you’ll receive. You can check this rate through banks, online currency converters, or financial news sources. Whether travelling or handling transactions, understanding these rates will make your financial dealings much smoother.

Keep reading to discover more about converting Ringgit to Rupees and how you can get the best rates for your money. This blog will cover the definitions of the two currencies and provide straightforward examples to help you understand the exchange process.

Overview of MYR(Malaysian Ringgit)

The Malaysian Ringgit (MYR) is Malaysia’s official currency. Its symbol is RM, which stands for Ringgit Malaysia. The Ringgit is divided into 100 smaller units called sen. When it comes to understanding exchange rates and conversions involving the Ringgit, there’s a simple formula you can use:

Amount in MYR × Exchange rate = Amount in Foreign Currency 

For example, if you want to convert MYR to another currency, like the US Dollar (USD), you would multiply the amount in Ringgit by the current exchange rate between MYR and USD.

History of MYR(Malaysian Ringgit)

On June 12, 1967, Malaysia’s central bank, the Bank of Negara Malaysia, altered the Malayan Dollar and British Borneo with the Dollar of Malaysian. The Malaysian was worth $8.57 USD (1 GBP) (British Pound Sterling). However, its worth dropped by nearly 14% in the first 5 months.

From 1995 to 1997, the Malaysian Ringgit decided to trade at 2.50 to the US dollar, eventually falling to 3.80 to the US dollar by 1997. The value fluctuated between 3.80 and 4.40 to the US dollar until 1998, when the Bank of Negara Malaysia flagged the Malaysian Ringgit to the US dollar.

Overview of INR(Indian Rupee)

The Indian rupee (INR) is India’s official currency. When converting any foreign currency to INR or vice versa, you use a specific formula based on the exchange rate. The exchange rate tells you how much one unit of a foreign currency is worth in Indian Rupees.

Here’s a simple formula to convert any foreign currency to INR:

Amount in INR = Amount in Foreign Currency × Exchange Rate

Exchange Path: MYR to INR Conversion with Examples

The current exchange rate for MYR to INR is 1 RM = INR 18.

History of INR(Indian Rupee)

Sher Shah Suri launched the silver coin weighing 11.53 grams rupee in India from 1540 to 1545. The silver coin was also recognised by rupiya.  

The rupee was originally a silver coin. This had significant effects in the 19th century. When the world’s most powerful markets were based on the benchmark. The discovery of significant amounts of silver in the US (United States) and numerous European regions triggered the 1873 fear and confusion. It tends to result in a decrease in the value of silver compared to gold, depreciating India’s basic currency. The term ‘Rupiya’, on the other hand, is quite common even today.

At the time, one rupee was worth 40 pieces of copper. Since, after independence, India received its main currency the type of rupee. Independence also resulted in the substitution of all erstwhile  types of currency.

An INR note was the initial unit of currency published in the nation after independence. In 2011, the country underwent a process of  financial restructuring,  all coins worth 25 paise or less were delisted. Another significant change occurred in 2016 when currency notes of 500 and 1,000 were demonetised and new banknotes of 1, 2, 5, 10, and 20 were presented.

MYR to INR Forecast 2022-23

The below table shows the MYR-INR forecast for the years 2022 and 2023. Remember, the MYR to INR today’s live rate may differ from the live rate of tomorrow, the day after tomorrow, and so soon. A forecast will help you determine an expected future range.  

Convert MYR to INR

You need to know the value of 1 MYR to INR today to convert Malaysian ringgit to INR. As of 1st Feb 2022, the value of 1 ringgit to INR is 17.84 INR.

Let’s learn to convert MYR to INR by looking at the instances below to get a better understanding of the conversion. 

Example 1: Convert 1.80 MYR to INR.

Solution: The exchange rate MYR to Indian rupee is 17.53 INR,

1.80 MYR is 1.80*17.53 = 31.56 INR

Example 2: Convert 1.50 MUY to INR.

Solution: The exchange rate MYR to Indian rupee is 17.53 INR,

1.50 MYR is 1.50*17.53 = 26.30 INR

Example 3: Convert 1.65 MUY to INR.

Solution: The exchange rate MYR to Indian rupee is 17.53 INR,

1.65 MYR is 1.65*17.53 = 28.93 INR

Example 4: Convert 1.95 MUY to INR.

Solution: The exchange rate MYR to the Indian rupee is 17.53 INR,

1.95 MYR is 1.95*17.53 = 34.19 INR

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MYR Vs INR – Key Differences

The table below displays the basic differences between MYR and INR.

MYR to INR Conversion Chart

The below table displays MYR to INR conversion chart. With this table, you can easily learn how to convert rm to rupees. 

FAQs about Convert MYR to INR