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500 MYR to CAD - Malaysian Ringgit to Canadian Dollar Exchange Rate

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MYR - Malaysian RinggitDown Arrow
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Exchange Rate

MYR 500 = CAD 159.97

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1 MYR = 0.31994 CAD | 1 CAD = 3.12559 MYR

Last Updated Feb 14, 5:30 IST

MYR 500 =CAD 159.97

1 MYR = 0.31994 CAD
1 CAD = 3.12559 MYR
Convert
Last Updated Feb 14, 5:30 IST
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Our converter applies the mid-market rate. It is solely for informational purposes. The Rate might differ while transferring money.

1 MYR to CAD Exchange Rate Last 5 Days
Date
Canadian Dollar Price
Feb 13, 2025
0.3193049560698797
Feb 12, 2025
0.3197994889952401
Feb 11, 2025
0.31958093862660825
Feb 10, 2025
0.320781345681722
Feb 9, 2025
0.3227803104021915

MYR to CAD Exchange Rate Chart

online1 MYR = 0.31994 CAD

  • 1 Week
  • 1 Month
  • 1 Year
Currency Information
MYR - Malaysian Ringgit
Our currency rankings show that the most popular Malaysian Ringgit exchange rate is the MYR to CAD rate. The currency code for Malaysian Ringgit is MYR. The currency symbol is RM.
More Malaysian Ringgit inforight-arrow
CAD - Canadian Dollar
Our currency rankings show that the most popular Canadian Dollar exchange rate is the CAD to MYR rate. The currency code for Canadian Dollar is CAD. The currency symbol is $.
More Canadian Dollar inforight-arrow
1 Malaysian Ringgit to Canadian Dollar stats
Last 30 Days
Last 90 Days
High
0.337
0.337
Low
0.318
0.312
Average
0.324
0.320
Volatility
1.09%
0.71%

How much is 500 MYR in Canadian Dollar

The exchange value of 500 MYR in Canadian Dollar is 159.970 CAD as on Feb 14.

How to check the exchange rate of 500 MYR to CAD with Paytm

You can check the exchange rate of 500 Malaysian Ringgit to Canadian Dollar by using the Paytm currency exchange rate calculator.

All you need to do to see the exchange 500 MYR to CAD online is as follows:.

  • Navigate to the Paytm currency calculator page.
  • Enter the amount 500 in the Amount section and
  • Select the currency MYR - Malaysian Ringgit in the "From" section
  • Select CAD - Canadian Dollar in "To" section
  • Finally, click "Convert" to see the 500 MYR to CAD conversion amount.

Methods to Convert (MYR) to Canadian Dollar (CAD) Online

There are several online ways to convert MYR to CAD.

1. Online Banks

Most banks in India allow MYR to CAD conversion through their internet banking or mobile apps.

Steps to Convert MYR to CAD via Online Banking:

  1. Log in to your bank account.
  2. Select "Forex Services" or "Currency Exchange."
  3. Enter the MYR amount you want to convert.
  4. Check the exchange rate.
  5. Confirm and complete the transaction.

Pros:

  • Safe and secure.
  • Money gets credited directly to your account.
  • No hidden fees.

Cons:

  • Banks may offer lower exchange rates.
  • The process can take a few hours to a few days.

2. International Money Transfer Apps

Apps like Wise, PayPal, and Western Union allow MYR to CAD conversion quickly.

Steps to Convert MYR to CAD via international money transfer apps:

  1. Create an account in any app and log in.
  2. Enter the MYR amount you want to convert.
  3. Choose CAD as the receiving currency.
  4. Add the recipient‘s Indian bank details.
  5. Check the exchange rate and fees.
  6. Confirm and transfer.

Pros:

  • Better exchange rates than banks.
  • Fast transfers (few minutes to hours).
  • Small and transparent fees.

Cons:

  • Requires verification for large amounts.

3. Forex Cards

A Forex card is a prepaid card that holds multiple currencies, including MYR.

Steps to Convert MYR to CAD via Forex Card:

  1. Get a Forex card from a bank or travel agency.
  2. Load it with MYR before traveling.
  3. Use it at ATMs in India to withdraw CAD.
  4. The card automatically converts MYR to CAD at the time of withdrawal.

Pros:

  • Safer than carrying cash.
  • Good exchange rates.
  • Can be used multiple times.

Cons:

  • Some banks charge ATM withdrawal fees.
  • Limited to international travelers.

4. Cryptocurrency Exchanges

Some people use crypto exchanges to convert USD to INR through Bitcoin, Ethereum etc.

Steps to Convert MYR to CAD via Crypto:

  1. Buy Bitcoin (BTC) with MYR on a crypto exchange.
  2. Transfer the BTC to an Indian exchange.
  3. Sell it for CAD.
  4. Withdraw CAD to your bank account.

Pros:

  • Fast transactions.
  • Good for high amounts.
  • Some platforms offer zero fees.

Cons:

  • Cryptocurrency prices fluctuate.
  • May not be legal in all countries.

Places to Convert MYR to CAD Offline

There are several offline methods to exchange MYR to CAD. Let‘s explore them.

1. Banks

Banks offer currency exchange services at competitive rates. You need to visit a branch with your MYR cash and exchange it for CAD.

Steps to Exchange MYR to CAD at a Bank:

  1. Visit a bank branch that offers forex services.
  2. Carry your passport, visa, and ID proof (for foreigners).
  3. Fill out the currency exchange form.
  4. Hand over the MYR cash.
  5. Receive CAD in cash or your bank account.

Pros:

  • Safe and reliable.
  • Better exchange rates than airports.
  • Direct deposit option available.

Cons:

  • Limited working hours.
  • Requires documents for verification.

2. Currency Exchange Centers

Private money exchange centers, like Thomas Cook, Muthoot Forex, and Western Union, offer offline MYR to CAD conversion.

Steps to Exchange MYR to CAD at an Exchange Center:

  1. Visit a licensed money exchange center.
  2. Show your passport and ID proof.
  3. Provide the MYR cash for exchange.
  4. Receive CAD at the given exchange rate.

Pros:

  • Quick and easy.
  • Available in major cities and tourist areas.
  • Competitive exchange rates.

Cons:

  • Some centers charge extra service fees.
  • Not available in remote areas.

3. Airport Currency Exchange Counters

Airports have forex counters where travelers can exchange MYR to CAD.

Steps to Exchange MYR to CAD at an Airport:

  1. Locate the currency exchange counter at the airport.
  2. Show your passport and travel documents.
  3. Hand over MYR and receive CAD instantly.

Pros:

  • Convenient for travelers.
  • Open 24/7 in major airports.

Cons:

  • Higher exchange rates compared to banks.
  • Extra service fees.

4. Hotels and Travel Agencies

Some hotels and travel agencies offer currency exchange services for guests.

Steps to Exchange MYR to CAD at a Hotel or Travel Agency:

  1. Check if your hotel or travel agency provides forex services.
  2. Provide your passport and MYR cash.
  3. Receive CAD based on their exchange rate.

Pros:

  • Very convenient for travelers.
  • No need to visit a bank or forex center.

Cons:

  • Higher exchange rates.
  • Limited availability.

5. Local Money Changers

In busy markets and tourist spots, you may find local money changers who exchange MYR for CAD

Steps to Exchange MYR to CAD at a Local Money Changer:

  1. Find a trusted local money changer.
  2. Negotiate the exchange rate if possible.
  3. Provide MYR and receive CAD.

Pros:

  • Quick and easy.
  • Sometimes better rates than banks.

Cons:

  • Risk of fraud or counterfeit CAD.
  • No official receipt or record.

Documents Required for MYR to CAD Exchange

Most offline exchanges require identity proof. Here are the common documents needed:

Document TypeRequired For
PassportAll exchanges (mandatory for foreigners)

Always carry a valid ID when exchanging currency.

Tips to Get the Best Exchange Rate for converting MYR to CAD

  1. Compare Rates: Use online comparison tools to check the best MYR to CAD rates before converting.
  2. Avoid Weekends: Exchange rates are higher on weekends due to market closure.
  3. Use Low-Fee Platforms: Choose platforms like Wise or Forex cards to reduce extra charges.
  4. Avoid Airport Exchanges: Airport forex counters have the worst exchange rates.
  5. Convert Larger Amounts: Some platforms offer better rates for higher amounts.
  6. Negotiate: At local money changers, you may get a better rate if you negotiate.
  7. Check for Hidden Fees: Ask about service charges before exchanging.
  8. Verify the Notes: Always count your CAD and check for fake currency.
  9. Use Official Channels: Avoid unlicensed money changers to prevent scams.

Fees and Charges for converting MYR to CAD

MethodExchange RateTransfer FeeAvailabilitySpeed
Bank TransferLowLowLimited hours1-3 days
Any Third Party AppHighLow24/7Instant/Few minutes
Forex CardMediumLow24/7Instant
Crypto ExchangeHighLow24/7Few minutes
Exchange CentersGoodMediumWidely availableFew minutes
Airport CountersHighHigh24/7 at airportsFew minutes
Hotels/AgenciesVery HighMediumOnly for guestsFew minutes
Local Money ChangersVariesLowRisky but quickFew minutes

Benefits of MYR to CAD Conversion

Converting Malaysian Ringgit (MYR) to Canadian Dollar (CAD) offers several advantages, depending on your financial needs and market conditions. Here are some key benefits:

1. Favorable Exchange Rates

MYR is a strong and widely traded currency. If the exchange rate is favorable, converting MYR to CAD can give you more value for your money.

2. Higher Purchasing Power in Canada

Since 1 MYR equals a significantly higher amount in CAD, converting MYR to CAD increases your purchasing power, allowing you to afford more goods and services in Canada.

3. Supports Travel and Expenses in Canada

If you‘re an NRI, tourist, or returning from the Malaysia, converting MYR to CAD ensures you have local currency for daily expenses, shopping, and travel within Canada.

4. Investment Opportunities

Converting MYR to CAD can help you invest in Canada assets, such as real estate, stocks, mutual funds, and fixed deposits, which often offer higher returns compared to Malaysia markets.

5. Savings on Transaction Fees

Using a direct MYR to CAD conversion method (like Forex cards or money changers) helps avoid unnecessary fees and unfavorable exchange rates charged by international payment gateways or credit card companies.

6. Business and Trade Advantages

For businesses involved in international trade, converting MYR to CAD at the right time can help optimize costs, manage foreign exchange risks, and improve profit margins.

By choosing the right conversion method and timing, you can maximize the benefits of MYR to CAD exchange.

Frequently Asked Questions

FAQs

Can I convert MYR to CAD without a bank account?
Yes, you can use forex cards, international wallets, or cash exchanges.
How long does it take to convert MYR to CAD online?
It depends on the method: • Bank Transfers: 1-3 days • Wise & PayPal: A few minutes to hours • Crypto: A few minutes • Forex Cards: Instant at ATMs
Is it safe to convert MYR to CAD online?
Yes, but use trusted platforms like banks, Wise, or PayPal. Avoid unknown websites to prevent fraud.
Are there any hidden charges?
Always check for: • Transfer fees • Conversion charges • GST or other taxes • Bank charges (for wire transfers)
Can I exchange MYR to CAD without a passport?
Most licensed exchanges require a passport, especially for large amounts. Small amounts may be exchanged with an Aadhaar or PAN card.
How much MYR can I exchange at a time?
There is no strict limit, but heavy transactions may require extra documentation and approval from respective authorities.
Is it safe to exchange money at local money changers?
It can be risky. Always choose a trusted and licensed money changer to avoid scams.
Do banks offer the best exchange rates?
Banks usually offer better rates than airports and hotels, but money exchange centers might have even better deals.
What should I do if I receive fake CAD notes?
If you suspect fake notes, inform the exchange center immediately and report it to the local police if necessary.
What is the 500 Malaysian Ringgit (MYR) worth against the Canadian Dollar?
500 MYR is worth 159.970 Canadian Dollar today
What is the 25 Malaysian Ringgit (MYR) worth against the Canadian Dollar?
25 MYR is worth 7.998 Canadian Dollar today
What is the 1 Malaysian Ringgit (MYR) worth against the Nicaraguan Córdoba?
1 MYR is worth 8.310117313458884 NIO today
What is the strongest currency in the world right now?
Despite being the most traded and powerful currency in the world, the US dollar may not be the most expensive. On the other hand, Kuwait's strong economy has made the Kuwaiti dinar (KWD) the world's most valuable currency. 1 KWD = $3.26.
What is the top 10 highest currency in the world?
Kuwaiti Dinar, Bahraini Dinar, Omani Rial, Jordanian Dinar, British Pound Sterling, Cayman Islands Dollar, European Euro, Swiss Franc, US Dollar, and Canadian Dollar are the top ten most valuable currencies in the world.
Which is the lowest currency in the world?
The Iranian Rial is the world's most affordable currency.

Source of the rates:apilayer.com

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