Malaysia
Currency in Malaysia: what to use and how to exchange
Malaysia uses the ringgit (MYR, written RM), roughly RM4.2–4.5 per US$ in 2026. Arrive with a little cash for the first taxi or bus, then withdraw from a bank ATM or pay by card; exchange leftover foreign notes at a licensed money changer in a mall rather than at the airport.
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GuideMalaysia
Key facts
- Currency
- Ringgit (MYR), written RM; 100 sen = RM1
- Rate, 2026 estimatecheck
- About RM4.2–4.5 per US$1
- Notes and coinscheck
- Notes RM1, 5, 10, 20, 50, 100; coins 5, 10, 20, 50 sen
- Cardscheck
- Visa and Mastercard widely accepted in cities; carry cash for hawker stalls, markets and small towns
- ATMscheck
- Bank ATMs (Maybank, CIMB, Public Bank) are common in cities; your bank's foreign fee plus a local fee may apply
- Best exchangecheck
- Licensed money changers in malls and city centres usually beat airport counters
- Cash declarationcheck
- Amounts above the national threshold must be declared on arrival — check the current figure before you fly
Details
The ringgit is the only currency you need. Prices are quoted in RM, and the sen coins below RM1 are used for small change; many stalls round to the nearest 10 or 20 sen. You do not need to change money before you fly — the rate at your home airport is usually worse than anything you will find in Kuala Lumpur, Penang or Johor Bahru.
For cash, two routes work. Withdraw from a bank ATM on arrival: the rate tracks the interbank rate and the fee is one fixed charge per withdrawal, so take a larger amount less often. Or bring clean, unmarked US dollars, euros, pounds or Singapore dollars and change them at a licensed money changer — the ones inside shopping malls in Kuala Lumpur, George Town and Johor Bahru are the usual benchmark for a fair rate. Airport counters and hotel desks are convenient but cost more.
Cards cover most of a city trip. Hotels, malls, chain restaurants, Grab rides and larger shops take Visa and Mastercard, and contactless is normal. Hawker centres, night markets, small towns and island ferries are still cash-first, so keep RM100–200 on you. Some terminals ask whether you want to pay in ringgit or your home currency: always choose ringgit, because the conversion rate offered at the terminal is worse.
Tipping is not expected, and many restaurant bills already add a 10% service charge; check the bill before adding more. If you are staying longer or moving between islands, carry more cash than you think you need — ATMs thin out on Tioman, Redang, the Perhentians and in parts of Sabah and Sarawak.
Summary table
| Situation | Best option | Notes |
|---|---|---|
| First hour after landing | Small amount of cash | Airport exchange is convenient but costs more |
| Everyday spending in cities | Card, plus RM100–200 cash | Contactless works in malls and chains |
| Hawker stalls, markets, small towns | Cash | Many stalls do not take cards |
| Getting the best rate | Licensed money changer in a mall | Compare two or three counters |
| Withdrawing | Bank ATM | Fixed fee per withdrawal; take more, less often |
| Paying by card abroad | Choose ringgit at the terminal | Refuse conversion to your home currency |
Tips
- Tell your bank you are travelling so the card is not blocked.
- Keep small notes and coins for buses, ferries, parking and market food.
- Count your change at busy stalls; mistakes are usually honest but common.
- Keep a backup card separate from your main one.
- Carry enough cash for islands and rural areas before you leave the mainland.
FAQ
Questions people ask
What currency is used in Malaysia?
The Malaysian ringgit (MYR), written RM. One ringgit is 100 sen. In 2026 the rate is roughly RM4.2–4.5 per US$1 — check the current rate before you travel.
Where is the best place to exchange money in Malaysia?
Licensed money changers in shopping malls and city centres usually give the best rate, better than airport counters and hotels. Bank ATMs are a good alternative: the rate tracks the interbank rate and you pay one fixed fee per withdrawal.
Is it better to bring cash or use a card in Malaysia?
Use a card for hotels, malls, chains and Grab, and carry RM100–200 in cash for hawker stalls, markets, small towns and islands. Always pay in ringgit when a terminal offers a choice of currency.
Deep dive
Every source; changeable facts are marked check
Sources
- officialBank Negara Malaysia
- officialRoyal Malaysian Customs Department
- officialTourism Malaysia
- secondaryWikivoyage – Malaysia