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Shiba Inu to Malaysian Ringgit Converter and calculator

Convert 1Shiba Inu (SHIB) to Malaysian Ringgit (MYR) equals RM 0.0001040 | 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 Shiba Inu currency pair is the SHIB to MYR, with for Shiba Inu's currency code being SHIB. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for MYR.

SHIB to MYR conversion rate trend

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In the past 1D, Shiba Inu has changed -3.16% to MYR. Based on the trend and price charts, Shiba Inu(SHIB) has changed -3.16% to MYR while Malaysian Ringgit(MYR) has changed % to SHIB in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
RM0.0001015
0.0001% / 0.0004%vip-iconVIP
Binance
RM0.0001022
0.1000% / 0.1000%
Yes
Coinbase Exchange
RM0.0001019
0.1000% / 0.1000%
Yes
Kraken
RM0.0001022
0.1000% / 0.1000%
Yes
OKX
RM0.0001021
0.080% / 0.100%
Yes
Huobi
RM0.0001021
0.1000% / 0.1000%
Yes
Gate.io
RM0.0001021
0.1000% / 0.1000%
Yes
Bybit
RM0.0001021
0.1000% / 0.1000%
Yes
KuCoin
RM0.0001021
0.1000% / 0.1000%
Yes
Bitfinex
RM0.0001015
0.1000% / 0.1000%
Yes
Last updated 2024/04/19 03:00:38(UTC+0)

What factors influence the conversion rate of Shiba Inu to Malaysian Ringgit?

Shiba Inu to Malaysian Ringgit is falling this week.
Shiba Inu's current market price is RM 0.0001040 per SHIB, with a total market cap of RM 61,262,507,475.81 MYR based on a circulating supply of 589,289,440,000,000 SHIB. The trading volume of Shiba Inu has changed by -3.17% (RM -87,197,964.57 MYR) in the last 24 hours. Last trading day, SHIB's trading volume was RM 2,753,503,996.86.
Market cap
$12.80B
24h volume
$557.27M
Circulating supply
589.29T SHIB

Conversion tables

The exchange rate of Shiba Inu is decreasing.
1 SHIB is currently valued at RM 0.0001040 MYR , which means buying 5 SHIB will cost RM 0.0005198 MYR . Similarly, RM1 MYR can be traded for 9,619.09 SHIB, and RM50 MYR can be converted to 480,954.35 SHIB, excluding any platform or gas fees.
The exchange rate of 1 SHIB to Malaysian Ringgit has changed by -21.32% in the last 7 days. In the last 24 hours, the rate has fluctuated by -3.16%, reaching a high of 0.0001098 MYR and a low of 0.0001002 MYR . One month ago, the value of 1 SHIB was RM 0.0001209 MYR , which represents a -14.03% change from its current value. Over the last year, Shiba Inu has changed by
+RM
0.{4}5205MYR
, resulting in a change of +100.30% in its value.

SHIB to MYR

Amount
03:43 am today
0.5 SHIB
RM0.{4}5198
1 SHIB
RM0.0001040
5 SHIB
RM0.0005198
10 SHIB
RM0.001040
50 SHIB
RM0.005198
100 SHIB
RM0.01040
500 SHIB
RM0.05198
1000 SHIB
RM0.1040

MYR to SHIB

Amount03:43 am today
0.5MYR4,809.54  SHIB
1MYR9,619.09  SHIB
5MYR48,095.43  SHIB
10MYR96,190.87  SHIB
50MYR480,954.35  SHIB
100MYR961,908.7  SHIB
500MYR4,809,543.49  SHIB
1000MYR9,619,086.98  SHIB
share

Today vs. 24 hours ago

Amount03:43 am today24 hours ago24h change
0.5 SHIB$0.{4}1086$0.{4}1122
-3.16%
1 SHIB$0.{4}2173$0.{4}2244
-3.16%
5 SHIB$0.0001086$0.0001122
-3.16%
10 SHIB$0.0002173$0.0002244
-3.16%
50 SHIB$0.001086$0.001122
-3.16%
100 SHIB$0.002173$0.002244
-3.16%
500 SHIB$0.01086$0.01122
-3.16%
1000 SHIB$0.02173$0.02244
-3.16%

Today vs. 1 month ago

Amount03:43 am today1 month ago1M change
0.5 SHIB$0.{4}1086$0.{4}1264
-14.03%
1 SHIB$0.{4}2173$0.{4}2527
-14.03%
5 SHIB$0.0001086$0.0001264
-14.03%
10 SHIB$0.0002173$0.0002527
-14.03%
50 SHIB$0.001086$0.001264
-14.03%
100 SHIB$0.002173$0.002527
-14.03%
500 SHIB$0.01086$0.01264
-14.03%
1000 SHIB$0.02173$0.02527
-14.03%

Today vs. 1 year ago

Amount03:43 am today1 year ago1Y change
0.5 SHIB$0.{4}1086$0.{5}5425
+100.30%
1 SHIB$0.{4}2173$0.{4}1085
+100.30%
5 SHIB$0.0001086$0.{4}5425
+100.30%
10 SHIB$0.0002173$0.0001085
+100.30%
50 SHIB$0.001086$0.0005425
+100.30%
100 SHIB$0.002173$0.001085
+100.30%
500 SHIB$0.01086$0.005425
+100.30%
1000 SHIB$0.02173$0.01085
+100.30%

FAQ

This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.