Best INR to MYR Exchange Rates

INR to MYR Market Data

Indian rupee (INR) to Malaysian ringgit (MYR) market data - latest interbank mid-rate, trend, chart & historic rates.

1 INR = MYR

INR to MYR at 0.055932 is 1.0% below its 3-month average of 0.056499, having traded in a very stable 3.5% range from 0.055711 to 0.057646

05-DEC 2AM-NY 7AM-LON 3PM-HK 6PM-SYD

Sell INR → Buy MYR

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1 MYR = 17.88 INR

14-DAY LOW▼

Date	INR/MYR	Period
19 Nov 2023	0.0561	2 Week
04 Sep 2023	0.0563	3 Month
03 Dec 2022	0.0539	1 Year
04 Dec 2018	0.0587	5 Year
05 Dec 2013	0.0521	10 Year
08 Dec 2003	0.0835	20 Year

INR/MYR historic rates

Forecasts for INR to MYR

14-DAY LOW▼

05 DecThe Indian Rupee (INR) has been experiencing a period of depreciation against the US dollar, which analysts believe is likely to continue in the near term. While the Reserve Bank of India (RBI) is not expected to implement any easing measures until 2024, the INR is forecasted to fluctuate within the 82-84 range against the USD. The main factors that could weigh on the INR include high US Treasury yields, a weak yuan, and increasing crude oil prices – especially significant given India's status as the third-largest oil consumer and a major oil importer. The recent OPEC+ decision to cut oil production in April 2023 has also placed additional pressure on the rupee. However, FX analysts anticipate that any potential moderation in these influencing factors could offer some support to the Indian currency later on.

Read our full INR to MYR forecasts analysis

How to get a good INR to MYR exchange rate

There are several ways to save on exchange rates when converting Indian rupee to Malaysian ringgit:

Shop around for the best INR/MYR exchange rate: Exchange rates can vary significantly between different currency exchange providers, so it's important to compare rates from different sources before making a conversion.
Timing is important: Keep an eye on the INR/MYR rate on currency markets, as exchange rates can fluctuate frequently. Try to make your transactions when the exchange rate is in your favor. You can do this easily with our BER Smart Rate Tracker.
Use a credit/debit or travel card that doesn't charge foreign transaction fees: Some credit cards charge additional fees for transactions made in a foreign currency, so it's important to check with your card issuer to see if they charge these fees and what their exchange rate is.
Use a multi-currency account: Having a multi-currency account allows you to hold and transfer money in both INR and MYR at close to the interbank rate. It also allows you to make payments or withdrawals in the local currency while avoiding high conversion fees.
Buy currency in advance: If you know that you will need foreign currency in the future, consider buying it in advance when the exchange rate is favorable.

The key is reducing excessive costs and fees

Generally speaking, if you are buying Malaysian ringgit with Indian rupee, then it's better for the INR/MYR exchange rate to be higher.

However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).

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 foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.

Will the Indian rupee rise against the Malaysian ringgit?

It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

To help with this you can add INR/MYR to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

Manage My Rates

Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP▲ DOWN▼ HIGH▲ LOW▼ alerts over a range of periods over the recent 90 days.

Read our Currency guide to Malaysia - a practical currency and money guide to travel, living and doing business in Malaysia with the Malaysian ringgit.

Country Currency Guides

India (INR)

Malaysia (MYR)

How is the expat life in Malaysia?

The expat life in Malaysia can be quite comfortable, depending on where you live. Most expats live in urban areas like Kuala Lumpur, where they have access to international schools, western supermarkets, and hospitals. There are also many expat-friendly activities and events in the city.

Any laws in Malaysia that foreigners should be aware of?

There are several laws in Malaysia that foreigners should be aware of, such as the Sedition Act, the Communications and Multimedia Act, and the Official Secrets Act.

Read more at our Malaysia (MYR) country guide

Related exchange rates

Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more

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