About this pair
MYR/ISK: what to know
The MYR/ISK rate shows how much ISK you get for 1 MYR. Right now, 1 MYR buys 29.5389 ISK at the mid-market rate. In the other direction, 1 ISK is worth 0.0339 MYR.
In the short term MYR is driven mainly by commodity prices and regional demand, while ISK responds to tourism, fishing and commodity prices.
The Malaysian Ringgit (MYR) is issued by Bank Negara Malaysia. “Ringgit” means “jagged”, after the milled edges of old Spanish silver dollars. The Icelandic Krona (ISK) is issued by Central Bank of Iceland. After the 2008 crisis Iceland withdrew its cents (aurar) — only whole krónur circulate.
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.