About this pair
MYR/CAD: what to know
The MYR/CAD rate shows how much CAD you get for 1 MYR. Right now, 1 MYR buys 0.3408 CAD at the mid-market rate. In the other direction, 1 CAD is worth 2.9344 MYR.
In the short term MYR is driven mainly by commodity prices and regional demand, while CAD responds to oil prices and the US economy.
The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars. The Canadian Dollar (CAD) is issued by Bank of Canada. The C$1 coin is the “loonie” (after the loon bird) and the C$2 is the “toonie”.
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.