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