What is the currency of Malaysia” ?
The Malaysian currency is called the Ringgit (MYR), but do not be surprised if people ask you for dollars. They are not asking you for US dollars or any other currency for that matter. Locally, the Ringgit is referred to as the dollar. The Malaysian government pegged the MYR to the US$, so expect a fixed exchange rate at just under 4.00 MYR to the US$1.00. As it is not possible to buy MYR outside Malaysia, you should change your money in Malaysia, for example at a bank counter where most foreign currencies are accepted. It is not necessary to bring US$ to Malaysia, if you are not coming from the US. You can also change at the hotel, although the exchange will not be so favorable to you. There are also officially licensed moneychangers throughout Penang. Always make your own calculation first and always ask for an official receipt.
