Malaysian ringgit (MYR) to Pakistani rupee (PKR): where to check the rate

• MYR

Malaysian ringgit and the official PKR rate

The rates card at the top shows State Bank of Pakistan (SBP) exchange rates for mark-to-market revaluation: the "ready" rate in rupees per unit for the ringgit and dozens of other currencies, with the SBP date and a link to the SBP page. It also shows SBP's weighted average customer exchange rate for the US dollar (bid and offer), a trend line for major currencies against PKR, and a converter that includes PKR. The converter card just above this text works on European Central Bank (ECB) euro reference rates, between the currencies the ECB covers, and has no PKR. For rupee amounts, use the rates card.

SBP issues these rates every working day so that authorised dealers can revalue their books. The US dollar rate is a weighted average of closing interbank rates collected through brokerage houses, and the ringgit rate comes from the same SBP file. To work out an amount in rupees, enter it in the rates card's converter with MYR and PKR.

A reference rate is an official rate published once per business day. It is not a price at which a bank or exchange company will deal with you. Use it to check a quote, plan a budget or compare offers.

On weekends and public holidays no new reference rate is published. The card then keeps the last working day's SBP rate and date, so check the date before you rely on the number. It refreshes by itself when SBP publishes.

For other currencies, see the exchange rates overview. For the rupee against the dollar, see the USD to PKR page.

Why bank and exchange-office rates differ

The rate you get when you change money is almost never the reference rate. The main reasons:

• Buy and sell spread. Banks and exchange companies quote a lower rate when they buy ringgit from you and a higher one when they sell. The gap between the two is their margin.
• Thin market for MYR in Pakistan. The ringgit is traded far less in Pakistan than the dollar, riyal or dirham. Some exchange companies do not keep ringgit notes, and the ones that do may quote a wider spread.
• Conversion through the dollar. Card payments and many bank transfers convert MYR to USD and then USD to PKR. Each step can add a margin.
• Fees on transfers. Remittance services and banks may charge a fixed fee as well as a rate margin. Compare the total amount received, not only the rate shown.
• Timing. A bank's rate changes during the day. The reference rate is fixed once per day.

For how the State Bank of Pakistan publishes its own rupee rates, see SBP exchange rates.

What moves the MYR exchange rate

The ringgit to PKR rate is a cross rate. Both currencies are usually priced against the US dollar, so MYR/PKR moves when either the ringgit or the rupee moves against the dollar.

Bank Negara Malaysia policy

Bank Negara Malaysia (BNM) is Malaysia's central bank. It sets the Overnight Policy Rate (OPR), its main interest rate. Higher rates relative to other countries tend to support a currency, because deposits and bonds in that currency pay more. Lower rates tend to have the opposite effect. BNM can also act in the currency market to smooth sharp moves.

Trade and commodities

Malaysia exports electronics and semiconductors, palm oil, and oil and gas. When demand for these goods rises, or their prices rise, more foreign buyers need ringgit. This tends to support the currency. A fall in global electronics demand or in commodity prices tends to weigh on it.

Capital flows

Foreign investors buy and sell Malaysian bonds and shares. When global investors move away from emerging markets, for example when US interest rates rise, the ringgit often weakens against the dollar. When they return, it often strengthens.

The rupee side

Changes in Pakistan move the cross rate too: the SBP's interest rate decisions, the import bill, foreign reserves and remittance inflows. The latest SBP decision on record: SBP policy rate raised by 50 bps to 12% with effect from 27.10.2026 (MPC). For more context, see SBP rates and economy.

Links between Malaysia and Pakistan

• Trade. Pakistan imports palm oil from Malaysia, which links part of its import bill to the ringgit and to palm oil prices.
• Students. Many Pakistani students study at Malaysian universities. Their fees and living costs are paid in ringgit, so families in Pakistan follow this rate closely.
• Workers and remittances. Pakistanis working in Malaysia send ringgit earnings home, so the rate decides how many rupees reach their families.
• Travel. Malaysia is a common destination for tourism and business travel from Pakistan.

For payment channels and banking rules in Pakistan, see payments, tax and Islamic banking. If you want to understand how currency pairs are quoted in general, see currency pairs and the trading glossary. Exchange rates can move sharply, and trading currencies with leverage can lose money fast.

Frequent questions

Is the rate on this page the rate my bank will give me?

No. The card shows State Bank of Pakistan (SBP) rates used to revalue dealers' books. Banks, exchange companies and remittance apps quote their own buying and selling rates and fees. Ask your bank or money transfer service for its current rate.

Why does the date not show today?

Reference rates are published only on business days. On weekends and public holidays the card keeps the last working day's SBP rate and date.

Can I convert PKR to ringgit as well?

Yes. The converter in the rates card includes PKR, so you can convert rupees to ringgit or ringgit to rupees. The separate converter below it uses ECB euro reference rates and has no PKR.

Why do exchange companies quote a worse ringgit rate than the dollar rate?

The ringgit is traded less in Pakistan, so dealers hold fewer notes and quote wider spreads. Converting through USD can also add a second margin.

What is the OPR?

The Overnight Policy Rate is Bank Negara Malaysia's main interest rate. Changes to it are one of the factors that move the ringgit.

Where can I see other Asian currencies?

See the Singapore dollar, Thai baht and Chinese yuan pages, or the full exchange rates list.