Today, 500,000.00 (five hundred thousand) Euros are worth 2,350,998.17 Malaysian Ringgits, ie, €500,000.00 = RM2,350,998.17. That's because the current exchange rate, to MYR, is 4.70. So, to make Euro to Malaysian Ringgit conversion, you just need to multiply the amount in EUR by 4.70.
Learn how to get the best Euro exchange rate before exchanging your money
The Euro is the official Euro currency. EUR/MYR represents the value of Euro money in Malaysian Ringgit money and it is called the 'exchange rate' or 'forex rate'. This exchange rate from Euro to Malaysian Ringgit is today at 4.702.
As an example, suppose you are from Kuala Lumpur Malaysia and you travel to Paris European Union. There, you need to get 1000 Euros ( €) at a Paris bank to pay your hotel. In this case you would pay 4.702 * 1000 = 4,701.996 Malaysian Ringgits (RM). But, in practice, you will pay more (or perhaps much more) to get the same amount of your foreign currency due to the margin for the money conversion services costs like: commissions, credit card surcharges, ATM fees and other expenses. If, for example, you are using a credit card, this margin will typically be around 2 to 3 percent. We recommend that you choose the best place to make your money exchange because there can be a large difference between forex rates you will get.
In the example above for a 1000 Euros amount, the result of the money conversion is 4,796.036 MYR for a 2% margin or 4,843.056 MYR for a 3% margin.
Some Internet based foreign currency exchange agencies add 10 percent or even more. So, if you make the same calculations above, there will be a difference of about 470.200 MYR depending on which forex bank or agency you choose to exchange your money. So, that's why we advise you to seek the best place to get the best fx rates for your upcoming money transfer/exchange. The only way to know what is the best exchange rate is to know what the current rate is. You can easily accomplish this by using periodically our currency converter above to get an idea of what forex rate to expect.
Note: If you use our currency converter, you only need to choose the amount of margin in its drop-down list and have an estimate of how much you will pay to get the desired amount.
By the way: there are some notations for this currency pair like EUR-MYR or EURMYR among others. The currency symbol for Euro is (€) while the currency symbol for Malaysian Ringgit is (RM). The Malaysia country code is MYS or MY
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