What is Malaysian Ringgit (MYR)?

Malaysian Ringgit (RM), formerly known as the Malaysian dollar is the official currency of Malaysia. One MYR is divided into 100 cents and Ringgit is officially issued by the central bank of Malaysia ‘Bank Negara Malaysia’ on 12 June 1967. Coins range from 5 to 50 cents and the banknotes values range from 1 to 100 Ringgit. Singapore and Brunei dollars are also called ringgit in Malay, due to some common heritage. To differentiate this Malaysian currency is called Ringgit Malaysia with the official symbol of ‘RM’ with the replace the dollar sign (R$) and its currency code is MYR.

Malaysia has practiced a floating exchange rate system. This is a regime or an era where the value of the currency is determined by the supply and the demand of the currency on the foreign exchange market. Ringgit is backed by strong banking system and the interest rate differences with US dollar. At the time I’m writing 1USD equals 4.16 MYR which is still very strong currency rate if we compare Malaysian ringgit MYR with the other fiat currencies in the Asia. So, buying and selling MYR with such good exchange rates would always be beneficial for the fiat and crypto traders.

First of all you need to store your Malaysian Ringgit (RM) and other fiat or digital currencies, safely. While intermediate parties are in search of Buyers and fiat traders for high exchange fees and privacy is another big issue, so be aware of such channels. Crypto wallets are one of the best ways to buy, sell, and exchange your fiat currencies and crypto-assets. The exchange type may be fiat-to-crypto or crypto-to-crypto. MYR currency rate is one of the top exchange rates not only in Asian countries but also around the globe. You can trade it easily on fiat exchanges. B4U E-Wallet is one of the best crypto and fiat wallets to start or shift the journey of your trade. Using B4U Wallet you can store not only Malaysian Ringgits MYR (MR) but also some other top digital and fiat currencies, globally. Aside from offering the best user interface and the lowest fees, B4U E-Wallet is considered as the most secure and fast exchange wallet. Transactions take seconds to go through and once happened it means your transactions are legitimately added to the secure blockchain records. Download B4U Wallet Mobile App today to buy, sell and exchange your digital assets and fiat money.