IDR/MYR: what to know
The IDR/MYR rate shows how much MYR you get for 1 IDR. Right now, 1 IDR buys 0.000232007 MYR at the mid-market rate. In the other direction, 1 MYR is worth 4,310.21 IDR.
In the short term IDR is driven mainly by commodity prices and capital flows, while MYR responds to commodity prices and regional demand.
The Indonesian Rupiah (IDR) is issued by Bank Indonesia. The rupiah has some of the world’s highest denominations — notes go up to 100,000. 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.