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base info Polkadot

Polkadot to Malaysian Ringgit Converter and calculator

Convert 1Polkadot (DOT) to Malaysian Ringgit (MYR) equals RM 32.31 | 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 Polkadot currency pair is the DOT to MYR, with for Polkadot's currency code being DOT. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for MYR.

DOT to MYR conversion rate trend

1D7D1M3M1YAll
In the past 1D, Polkadot has changed +7.05% to MYR. Based on the trend and price charts, Polkadot(DOT) has changed +7.05% to MYR while Malaysian Ringgit(MYR) has changed % to DOT in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
RM32.73
0.0001% / 0.0004%vip-iconVIP
Binance
RM32.71
0.1000% / 0.1000%
Yes
Coinbase Exchange
RM32.77
0.1000% / 0.1000%
Yes
Kraken
RM32.95
0.1000% / 0.1000%
Yes
OKX
RM32.72
0.080% / 0.100%
Yes
Huobi
RM32.74
0.1000% / 0.1000%
Yes
Gate.io
RM32.71
0.1000% / 0.1000%
Yes
Bybit
RM32.73
0.1000% / 0.1000%
Yes
KuCoin
RM32.72
0.1000% / 0.1000%
Yes
Bitfinex
RM32.68
0.1000% / 0.1000%
Yes
Last updated 2024/04/15 00:00:36(UTC+0)

What factors influence the conversion rate of Polkadot to Malaysian Ringgit?

Polkadot to Malaysian Ringgit is falling this week.
Polkadot's current market price is RM 32.31 per DOT, with a total market cap of RM 46,333,954,094.71 MYR based on a circulating supply of 1,433,835,400 DOT. The trading volume of Polkadot has changed by -27.48% (RM -890,497,398.10 MYR) in the last 24 hours. Last trading day, DOT's trading volume was RM 3,240,623,446.48.
Market cap
$9.71B
24h volume
$492.69M
Circulating supply
1.43B DOT

Conversion tables

The exchange rate of Polkadot is decreasing.
1 DOT is currently valued at RM 32.31 MYR , which means buying 5 DOT will cost RM 161.57 MYR . Similarly, RM1 MYR can be traded for 0.03095 DOT, and RM50 MYR can be converted to 1.55 DOT, excluding any platform or gas fees.
The exchange rate of 1 DOT to Malaysian Ringgit has changed by -21.71% in the last 7 days. In the last 24 hours, the rate has fluctuated by +7.05%, reaching a high of 33.02 MYR and a low of 29.69 MYR . One month ago, the value of 1 DOT was RM 51.67 MYR , which represents a -37.43% change from its current value. Over the last year, Polkadot has changed by
-RM
0.1288MYR
, resulting in a change of -0.40% in its value.

DOT to MYR

Amount
00:41 am today
0.5 DOT
RM16.16
1 DOT
RM32.31
5 DOT
RM161.57
10 DOT
RM323.15
50 DOT
RM1,615.73
100 DOT
RM3,231.47
500 DOT
RM16,157.35
1000 DOT
RM32,314.7

MYR to DOT

Amount00:41 am today
0.5MYR0.01547  DOT
1MYR0.03095  DOT
5MYR0.1547  DOT
10MYR0.3095  DOT
50MYR1.55  DOT
100MYR3.09  DOT
500MYR15.47  DOT
1000MYR30.95  DOT
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Today vs. 24 hours ago

Amount00:41 am today24 hours ago24h change
0.5 DOT$3.39$3.16
+7.05%
1 DOT$6.77$6.33
+7.05%
5 DOT$33.87$31.64
+7.05%
10 DOT$67.75$63.28
+7.05%
50 DOT$338.73$316.39
+7.05%
100 DOT$677.46$632.78
+7.05%
500 DOT$3,387.28$3,163.92
+7.05%
1000 DOT$6,774.57$6,327.84
+7.05%

Today vs. 1 month ago

Amount00:41 am today1 month ago1M change
0.5 DOT$3.39$5.42
-37.43%
1 DOT$6.77$10.83
-37.43%
5 DOT$33.87$54.16
-37.43%
10 DOT$67.75$108.32
-37.43%
50 DOT$338.73$541.6
-37.43%
100 DOT$677.46$1,083.21
-37.43%
500 DOT$3,387.28$5,416.05
-37.43%
1000 DOT$6,774.57$10,832.09
-37.43%

Today vs. 1 year ago

Amount00:41 am today1 year ago1Y change
0.5 DOT$3.39$3.4
-0.40%
1 DOT$6.77$6.8
-0.40%
5 DOT$33.87$34.01
-0.40%
10 DOT$67.75$68.02
-0.40%
50 DOT$338.73$340.08
-0.40%
100 DOT$677.46$680.16
-0.40%
500 DOT$3,387.28$3,400.79
-0.40%
1000 DOT$6,774.57$6,801.57
-0.40%

FAQ

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