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base info Bitcoin SV

Bitcoin SV to Malaysian Ringgit Converter and calculator

Convert 1Bitcoin SV (BSV) to Malaysian Ringgit (MYR) equals RM 313.56 | Bitget

MYR information

About the Malaysian Ringgit (MYR)

What Is the Malaysian Ringgit (MYR)?

The Malaysian Ringgit, abbreviated as MYR and often represented by the symbol "RM," is the official currency of Malaysia. RM stands for "Ringgit Malaysia." The term "Ringgit" means "jagged" in Malay, originally referring to the serrated edges of silver Spanish dollars. The Ringgit is divided into 100 smaller units known as sen. The Malaysian Ringgit is the sole legal tender in Malaysia, and it is used for all transactions within the country.

The Malaysian Ringgit is issued by the Central Bank of Malaysia, known as Bank Negara Malaysia. Established on January 26, 1959, under the Central Bank of Malaysia Act 1958, Bank Negara Malaysia is the sole authority responsible for issuing currency in Malaysia. In addition to currency issuance, the central bank also manages monetary policy, financial stability, and the overall financial system infrastructure in the country.

What Is the History of MYR?

The Ringgit has a rich history, tracing back to the times when Malaysia was a part of European colonial powers. Initially, the Spanish dollars were used, later replaced by the Indian Rupee in 1837, and then reintroduced 30 years later. The Straits Dollar took over in 1903, pegged at two shillings to the British Pound. The Malaysian Ringgit was introduced in 1967, replacing the Dollar Malaya, which was also used by Singapore and Brunei.

Notes and Coins of MYR

The first series of coins and banknotes were issued in 1967. Over the years, various denominations have been used, including 1, 5, 10, 20, and 50 sen coins, and RM1, RM5, RM10, RM20, RM50, RM100 banknotes. The RM500 and RM1000 notes were discontinued in 1999 due to the Asian Financial Crisis.

Is MYR Pegged to the US Dollar?

The Malaysian Ringgit (MYR), issued by Bank Negara Malaysia, is not pegged to the US Dollar. Historically, during the Asian Financial Crisis in 1998, Malaysia had pegged the Ringgit to the US Dollar at a rate of 3.8 MYR to 1 USD to stabilize its economy. However, this peg was removed on July 21, 2005, following a similar decision by China regarding the Renminbi. Since then, the Ringgit has been operating under a managed float system, where its value is determined by market forces of supply and demand, with occasional interventions by the central bank to ensure stability. This transition reflects a move towards aligning the Ringgit's value more closely with Malaysia's economic fundamentals and market dynamics.

What Is the Price History of MYR?

The Malaysian Ringgit (MYR) has experienced a dynamic price history, significantly influenced by regional and global economic events. Before 1998, the Ringgit's value fluctuated in response to domestic and international economic conditions. The Asian Financial Crisis of 1997-1998 dramatically impacted the Ringgit, leading Malaysia to peg it to the US Dollar at 3.8 MYR to 1 USD in 1998 for stability. This peg was removed in 2005, transitioning the Ringgit to a managed float system where its value is determined by market forces, though occasionally stabilized by interventions from Bank Negara Malaysia. Since then, the Ringgit's valuation has been influenced by various factors, including global oil prices, Malaysia's economic policies, US-China trade tensions, and domestic political scenarios, reflecting its sensitivity to both internal and external economic dynamics. As of January 2024, the Malaysian Ringgit is trading at a rate of 1 MYR = 0.22 US dollars.

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Bitget crypto-to-fiat exchange data shows that the most popular Bitcoin SV currency pair is the BSV to MYR, with for Bitcoin SV's currency code being BSV. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for MYR.

BSV to MYR conversion rate trend

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In the past 1D, Bitcoin SV has changed +0.69% to MYR. Based on the trend and price charts, Bitcoin SV(BSV) has changed +0.69% to MYR while Malaysian Ringgit(MYR) has changed % to BSV in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
RM312.6
0.0001% / 0.0004%vip-iconVIP
OKX
RM312.98
0.080% / 0.100%
Yes
Huobi
RM313.58
0.1000% / 0.1000%
Yes
Gate.io
RM313.13
0.1000% / 0.1000%
Yes
KuCoin
RM312.84
0.1000% / 0.1000%
Yes
Last updated 2024/04/18 14:00:27(UTC+0)

What factors influence the conversion rate of Bitcoin SV to Malaysian Ringgit?

Bitcoin SV to Malaysian Ringgit is falling this week.
Bitcoin SV's current market price is RM 313.56 per BSV, with a total market cap of RM 6,173,819,589.52 MYR based on a circulating supply of 19,689,562 BSV. The trading volume of Bitcoin SV has changed by +16.43% (RM 39,648,184.74 MYR) in the last 24 hours. Last trading day, BSV's trading volume was RM 241,261,461.13.
Market cap
$1.29B
24h volume
$58.72M
Circulating supply
19.69M BSV

Conversion tables

The exchange rate of Bitcoin SV is decreasing.
1 BSV is currently valued at RM 313.56 MYR , which means buying 5 BSV will cost RM 1,567.79 MYR . Similarly, RM1 MYR can be traded for 0.003189 BSV, and RM50 MYR can be converted to 0.1595 BSV, excluding any platform or gas fees.
The exchange rate of 1 BSV to Malaysian Ringgit has changed by -28.73% in the last 7 days. In the last 24 hours, the rate has fluctuated by +0.69%, reaching a high of 320.05 MYR and a low of 304.59 MYR . One month ago, the value of 1 BSV was RM 355.25 MYR , which represents a -11.73% change from its current value. Over the last year, Bitcoin SV has changed by
+RM
2.51MYR
, resulting in a change of +87.10% in its value.

BSV to MYR

Amount
14:05 today
0.5 BSV
RM156.78
1 BSV
RM313.56
5 BSV
RM1,567.79
10 BSV
RM3,135.58
50 BSV
RM15,677.9
100 BSV
RM31,355.8
500 BSV
RM156,779
1000 BSV
RM313,557.99

MYR to BSV

Amount14:05 today
0.5MYR0.001595  BSV
1MYR0.003189  BSV
5MYR0.01595  BSV
10MYR0.03189  BSV
50MYR0.1595  BSV
100MYR0.3189  BSV
500MYR1.59  BSV
1000MYR3.19  BSV
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Today vs. 24 hours ago

Amount14:05 today24 hours ago24h change
0.5 BSV$32.77$32.55
+0.69%
1 BSV$65.55$65.1
+0.69%
5 BSV$327.75$325.52
+0.69%
10 BSV$655.5$651.03
+0.69%
50 BSV$3,277.5$3,255.17
+0.69%
100 BSV$6,554.99$6,510.34
+0.69%
500 BSV$32,774.96$32,551.72
+0.69%
1000 BSV$65,549.91$65,103.44
+0.69%

Today vs. 1 month ago

Amount14:05 today1 month ago1M change
0.5 BSV$32.77$37.13
-11.73%
1 BSV$65.55$74.27
-11.73%
5 BSV$327.75$371.33
-11.73%
10 BSV$655.5$742.65
-11.73%
50 BSV$3,277.5$3,713.26
-11.73%
100 BSV$6,554.99$7,426.53
-11.73%
500 BSV$32,774.96$37,132.64
-11.73%
1000 BSV$65,549.91$74,265.29
-11.73%

Today vs. 1 year ago

Amount14:05 today1 year ago1Y change
0.5 BSV$32.77$17.51
+87.10%
1 BSV$65.55$35.02
+87.10%
5 BSV$327.75$175.12
+87.10%
10 BSV$655.5$350.24
+87.10%
50 BSV$3,277.5$1,751.21
+87.10%
100 BSV$6,554.99$3,502.43
+87.10%
500 BSV$32,774.96$17,512.14
+87.10%
1000 BSV$65,549.91$35,024.28
+87.10%

FAQ

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