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Best MYR to INR Exchange Rate


There are two main numbers that you need to understand if you are to have any chance of getting the best possible MYR to INR rate, these are the foreign exchange market rate and the transaction margin you will be charged by your bank or foreign exchange provider.


1 Malaysian Ringgit equals
Indian Rupee 1=


Right now the MYR to INR rate is but will most likely be quite different by the time you make you currency exchange. You can calculate with the current mid-rate using our MYR to INR calculator below.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.



Why can't I just get the same MYR/INR market rate I see on Google or in the Media?

When you look up the current Malaysian Ringgit to Indian Rupee exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is is commonly referred to as the mid-market rate.

Getting a great mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This mid-market rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is!

You can use the below MYR to INR converter to calculate currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Malaysian Ringgit cross rates and reviews of leading foreign exchange providers versus the Banks.

MYR to INR calculator

RM
1 MYR equals
INR 1MYR=INR

Loading MYR/INR Chart

Malaysian Ringgit - Recent Performance

The Malaysian ringgit was Asia’s best performing currency in September. While many Asian currencies lost ground against the US dollar, the ringgit finished the month 1.2% stronger than it had been in August, buying $0.236 (USD/MYR 4.232). The ringgit’s year-to-date gain over USD rose to 6%.

The ringgit’s recent stability marks a refreshing change for those in Malaysia. The currency had been Asia’s worst performer in 2016.

Recent economic data from Malaysia has been excellent. Export growth is now above 30% per annum, industrial production above 6% and inflation ticked up to 3.7% in August, from 3.2% in July.

The team at BMI Research said in September that the ringgit would appreciate further against USD to $0.244 (USD/MYR 4.1) by the end of Q1 2018. BMI cited continued efforts by Malaysia’s government to reduce its fiscal deficit and strength in the Chinese yuan as their reasons. BMI said that risks to the ringgit included American protectionism and the Federal Reserve hiking interest rates faster than markets were expecting.

Important trading partners for Malaysia include Singapore and China. Against the Chinese yuan, the ringgit had its best month in fifteen as it gained 2.2% to ¥1.576. Against the Singapore dollar, the ringgit had its best month in five, gaining 1.3% to S$0.321.

Indian Rupee - Recent Performance

The rupee had a difficult September, ending the month at 65.44 per dollar, which meant that it had given back 40% of the 2017 gains it once held over USD (the rupee had been as strong as 63.53 per dollar on August 3rd).

The rupee had been one of the stars of the early part of the year, strengthening 6% against the dollar between January and April. However, between May and August, seasonal factors and a drop in market volatility meant that USD/INR spent much of the June-August period drifting sideways along the 64.0 handle.

While we could blame Donald Trump for the rupee’s September nosedive (Trump reignited the US reflation trade with September’s proposed corporate tax cuts) the reality is that the rupee remains weak by recent standards against many of the majors, especially the Canadian dollar, euro and British pound.

In September, AUD/INR once again tested 52.0, and once again was repelled. This resistance level is one of the strongest in FX and a break above it could see the rupee enter a long-term decline against the Australian dollar.

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