What is an FCNR Deposit? A complete guide for NRIs
This article covers: What is an FCNR Deposit? Which Currencies Are Accepted? What Interest Rates…
The Malaysian Ringgit (MYR), introduced in 1967, is the official currency of Malaysia. The term "Ringgit," meaning "jagged" in Malay, refers to the serrated edges of Spanish silver dollars historically circulated in the region. Issued by Bank Negara Malaysia, the Ringgit is an essential part of Malaysia's rapidly growing economy. As a stable currency in Southeast Asia, it is widely used in domestic and international trade, particularly within the ASEAN region.
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Last updated: Exchange rates here are informational, reflecting mid-market rates which fluctuate regularly. For an estimation of the rates offered by Instarem, please check our currency conversion calculator at the time of transfer.
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