MYR 500 = CAD 159.97
Convert1 MYR = 0.31994 CAD | 1 CAD = 3.12559 MYR
Last Updated Feb 14, 5:30 ISTOur converter applies the mid-market rate. It is solely for informational purposes. The Rate might differ while transferring money.
MYR to CAD Exchange Rate Chart
1 MYR = 0.31994 CAD
The exchange value of 500 MYR in Canadian Dollar is 159.970 CAD as on Feb 14.
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:.
There are several online ways to convert MYR to CAD.
Most banks in India allow MYR to CAD conversion through their internet banking or mobile apps.
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Apps like Wise, PayPal, and Western Union allow MYR to CAD conversion quickly.
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A Forex card is a prepaid card that holds multiple currencies, including MYR.
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Some people use crypto exchanges to convert USD to INR through Bitcoin, Ethereum etc.
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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.
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Private money exchange centers, like Thomas Cook, Muthoot Forex, and Western Union, offer offline MYR to CAD conversion.
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Airports have forex counters where travelers can exchange MYR to CAD.
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Some hotels and travel agencies offer currency exchange services for guests.
Steps to Exchange MYR to CAD at a Hotel or Travel Agency:
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In busy markets and tourist spots, you may find local money changers who exchange MYR for CAD
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Most offline exchanges require identity proof. Here are the common documents needed:
Document Type | Required For |
---|---|
Passport | All exchanges (mandatory for foreigners) |
Always carry a valid ID when exchanging currency.
Method | Exchange Rate | Transfer Fee | Availability | Speed |
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Bank Transfer | Low | Low | Limited hours | 1-3 days |
Any Third Party App | High | Low | 24/7 | Instant/Few minutes |
Forex Card | Medium | Low | 24/7 | Instant |
Crypto Exchange | High | Low | 24/7 | Few minutes |
Exchange Centers | Good | Medium | Widely available | Few minutes |
Airport Counters | High | High | 24/7 at airports | Few minutes |
Hotels/Agencies | Very High | Medium | Only for guests | Few minutes |
Local Money Changers | Varies | Low | Risky but quick | Few minutes |
Converting Malaysian Ringgit (MYR) to Canadian Dollar (CAD) offers several advantages, depending on your financial needs and market conditions. Here are some key benefits:
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.
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.
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.
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.
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.
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.
Source of the rates:apilayer.com