|Currency Supplier||You'll Receive||Buy Back Rate||Customer Rating||Order Online|
|£122.36Appx. Postage £6.70||1 MYR = 0.1631 GBP6.1296||31 Reviews||Sell Now|
Manor FXSell Now
Since 2019, Manor FX buy and sell over 150 currencies from Albania to Zambia. Closed currencies? Off the beaten track? We've got you covered. We buy and sell travel money for currencies not offered by others, at great rates with no commission. Delivered fast with Royal Mail Special Delivery.
If you're selling Malaysian ringgits, you want to exchange rate to be as low as possible because the amount of money you'll receive is calculated by dividing the amount of Malaysian ringgits you have by the buy back rate.
The Malaysian ringgit buy back rate is currently 18.22% higher than it was 90 days ago, having increased from 5.1848 on the 14th January to 6.1296 today. This means RM750 are worth £22.30 less today than they did back in January. During this period, the lowest rate we recorded was 5.1848 on the 14th January and the highest rate was 5.6367 on the 8th March.
For more historical Malaysian ringgit buy back rates dating back over years, see our Malaysian ringgit to British pound exchange rate history page.
Whether you're looking to sell currency, buy travel money or send funds overseas; we've got all of your currency needs covered. You're currently looking at our Malaysian ringgit buy back page, but we have range of other products and services that you might also be interested in:
We compare dozens of UK currency suppliers to bring you the best Malaysian ringgit travel money rates. Order online for great exchange rates, free home delivery and no commission.
A secure and flexible alternative to cash. Open an account, add funds to your card and use it anywhere in Malaysia or the rest of the world at the fraction of the cost of traditional UK bank cards.
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The best Malaysian ringgit to pound buy back rate right now is 6.1296 offered by Manor FX. This works out at £0.16 per Malaysian ringgit.
The best time to sell Malaysian ringgits is when the Malaysian ringgit buy back rate is low. This is because the amount of pounds you receive for your Malaysian ringgits is calculated by dividing the amount of Malaysian ringgits you have by the buy back rate.
Think of it like this: it's a good time to sell Malaysian ringgits when it's a bad time to buy them! This is because when you buy Malaysian ringgits you want the exchange rate to be as high as possible (since the amount of Malaysian ringgits you receive is calculated by multiplying your pounds by the exchange rate) but when you sell Malaysian ringgits you want the opposite to be true.
Use our historical Malaysian ringgit buy back rate chart above to determine if now is a relatively good time to sell. Ultimately though, don't worry about trying to pick the perfect time to sell because it doesn't make a huge difference to the amount you'll receive unless you're selling tens or hundreds of thousands of pounds worth of Malaysian ringgits (in which case you'll probably want to use a money transfer service).
The rate at which a currency supplier will exchange your Malaysian ringgits back into pounds is called the Malaysian ringgit buy back rate, and as you would expect this rate varies from supplier to supplier and changes frequently throughout the day. You can calculate the amount of pounds you'll receive for your Malaysian ringgits by dividing the amount of Malaysian ringgits you have by the supplier's buy back rate.
For example, to calculate the value of RM1 you simply divide it by the buy back rate:
RM1 / 6.1296 = £0.16
In other words, you'd get £0.16 for each Malaysian ringgit you sell.
We have performed all of these calculations for you in the comparison table above so you can see exactly how much each supplier is offering based on their current Malaysian ringgit buy back rate.
We found 1 supplier in the UK who is currently exchanging Malaysian ringgits to pounds: Manor FX.
Most high street currency suppliers who sell Malaysian ringgits will also buy them back off you, but the process isn't always straightforward. Some suppliers will only buy back currency that they originally sold you in the first place (and you'll need to provide a receipt as proof), or you might be limited to the amount of Malaysian ringgits you can exchange back to pounds in a single order.
Our currency partners listed above are different because they will buy any Malaysian ringgits sent to them by post (or taken in person if you live nearby) without limits and with no proof of purchase necessary apart from the usual ID and source of funds checks. If you place your buyback order online, you'll also get a much better buy back rate than if you walked in off the street unannounced.
Visit a supplier's website for more information on their specific process for buying back Malaysian ringgits, a list of their store locations and postage instructions.
You cannot deposit Malaysian ringgits directly into your UK bank account but you can swap your Malaysian ringgits for pounds and deposit them that way. The most cost-effective way of doing this depends on the Malaysian ringgits you want to deposit:
Some banks will allow you to exchange Malaysian ringgits to pounds over the counter and deposit them directly into your account, but bear in mind the buy back rate you receive will often be horrendous so only use this option if you are desperate or have a very small amount to exchange.
Most currency suppliers will not buy back Malaysian ringgit coins because they are expensive to post and difficult to exchange. We've indicated which Malaysian ringgit notes and coins each supplier accepts in their extended descriptions which you can see by clicking 'More Details' in the results table above.
If you're stuck with some Malaysian ringgit coins that you can't exchange back, here are a few suggestions on what you can do with them:
When posting your Malaysian ringgits, we recommend you use Royal Mail's Special Delivery service which is fully insured and guaranteed to arrive on the next working day. Packages sent by Special Delivery go through a more secure process than regular mail and can be tracked from the moment they enter the system right up to the point of delivery where they must be signed for by the supplier. It is very rare for Royal Mail to lose a Special Delivery package, but in the unlikely event this does happen Royal Mail will refund you the entire insured amount plus postage costs. You can also reclaim your postage costs if Royal Mail do not deliver your currency on time.
When you purchase Special Delivery you'll be given an option to insure your package for up to £2,500 and you'll be given a receipt which contains a tracking number and proof of postage. If you are sending more than £2,500 worth of Malaysian ringgits, you can split them up into multiple packages and insure each package for an appropriate amount.
The cost of Special Delivery varies depending on the amount you've insured the package for, but we estimate this cost for you in our comparison results above. You should ensure that your Malaysian ringgits are securely packaged before you post them; we recommend you use a plastic tamper-proof envelope that you can obtain from the Post Office when you purchase Special Delivery. If you are in any doubt, just ask the Post Office clerk to check your package before you send it and they will advise you on whether it is suitably packaged and insured.
For orders sent by post you'll be paid by Bank Transfer within 3 working days from the day you currency is received. For orders exchanged in person you'll be paid immediately in cash.
The Malaysian ringgit buy back rate you receive will be the prevailing rate on the day your currency is received. This rate does not usually change significantly from day to day but it does mean you may receive slightly more or slightly less than the amount quoted today.
If you're unhappy with the final amount received, you can dispute this will the supplier and arrange to have your currency returned.
Every so often, a country will update it's currency and issue a new set of notes or coins whilst simultaneously withdrawing the old ones. The withdrawn currency is usually accepted for a while after the issue of the new currency to allow a for graceful transition to take place, but eventually the old currency will cease to become legal tender. Once this happens, the old currency cannot usually be exchanged.
If you're unsure whether the Malaysian ringgits you have can still be exchanged, we recommend you contact the supplier beforehand and they will gladly help you to determine whether your notes can be accepted.