About this pair
AUD/MYR: what to know
The AUD/MYR rate shows how much MYR you get for 1 AUD. Right now, 1 AUD buys 2.9148 MYR at the mid-market rate. In the other direction, 1 MYR is worth 0.3431 AUD.
In the short term AUD is driven mainly by commodity prices and Chinese demand, while MYR responds to commodity prices and regional demand.
The Australian Dollar (AUD) is issued by Reserve Bank of Australia. Australia pioneered polymer banknotes in 1988 — more durable and harder to counterfeit. The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.