Today, 7.10 Malaysian Ringgits are worth 51.78 Taiwan Dollars, ie, RM7.10 = NT$51.78. That's because the current exchange rate, to TWD, is 7.29. So, to make Malaysian Ringgit to Taiwan Dollar conversion, you just need to multiply the amount in MYR by 7.29.
Learn how to get the best Malaysian Ringgit exchange rate before exchanging your money
The Malaysian Ringgit is the official Malaysian Ringgit currency. MYR/TWD represents the value of Malaysian Ringgit money in Taiwan Dollar money and it is called the 'exchange rate' or 'forex rate'. This exchange rate from Malaysian Ringgit to Taiwan Dollar is today at 7.293.
As an example, suppose you are from Taipei Taiwan and you travel to Kuala Lumpur Malaysia. There, you need to get 1000 Malaysian Ringgits ( RM) at a Kuala Lumpur bank to pay your hotel. In this case you would pay 7.293 * 1000 = 7,292.574 Taiwan Dollars (NT$). 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 Malaysian Ringgits amount, the result of the money conversion is 7,438.425 TWD for a 2% margin or 7,511.351 TWD 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 729.257 TWD 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 MYR-TWD or MYRTWD among others. The currency symbol for Malaysian Ringgit is (RM) while the currency symbol for Taiwan Dollar is (NT$). Note also that the Malaysia country code is MYS or MY. The Taiwan country code is TWN or TW
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