Currency in Kuala Lumpur

What are the first things that come to mind when you think of Kuala Lumpur?

While most people know it's the capital of Malaysia, that's also pretty much all they know about this beautiful city. Compared to its super popular 'neighbors' Thailand and Singapore, Kuala Lumpur still remains a bit of a hidden treasure for many travelers and holidaymakers, when actually, there is a lot to love about this city!

In fact, Kuala Lumpur has it all in terms of infrastructure, safety, convenience, and a high standard of living for a reasonable cost. The city offers the perfect mix of traditional culture and modern architecture. Most visitors are drawn by the city's lifestyle, fabulous shopping, world-class cuisine, flourishing economy, pulsating nightlife, and world-famous landmarks like the Petronas Twin Towers and the Batu Caves!

If you've never been to Kuala Lumpur, it can be overwhelming to figure out what to fit into your travel schedule or which spots are worth visiting. That's why you should definitely take one of the many tours in Kuala Lumpur! At ForeverVacation, we offer some of the best tours in Malaysia, including KL, with local guides who will take you to the best spots, all wrapped up in VIP service so you won't have to worry about anything during your day trip!

But before you head to Malaysia, make sure you’ve sorted out your travel money. It’s as important as finding travel insurance, accommodation, and planning your itinerary. The right travel money option depends on how much you’re looking to spend and your travel plans. This blog post is a quick guide to what you can expect, covering Kuala Lumpur's currency, money-saving tips, exchange rates, and all you need to know about money!

What currency is used in Kuala Lumpur?

Malaysian Ringgit is the official currency of Malaysia and is sometimes referred to as the Malaysian dollar. The Malaysian ringgit is also frequently accepted in border areas of Indonesia, the Philippines, Thailand, and Vietnam.

Fun fact: ''ringgit'' means "jagged" in Malay. Originally, it referred to the serrated edges of silver Spanish dollars that circulated widely in Southeast Asia during the Spanish colonization.

An overview:

• Malaysian Currency Code: MYR
• Malaysian Currency Symbol: RM (ringgit Malaysia)
• Malaysian Coins: sen5, sen10, sen20, sen50
• Malaysian Currency Notes: RM1, RM5, RM10, RM50, RM100 (Earlier 500 and 1,000 denominations were removed in the 1990s to curb money laundering)

Malaysian money is notably colorful. The colors and sizes serve a useful purpose, helping people identify denominations. Tunku (the first prime minister) appears on one side of the banknotes, while the other side displays drawings of Malaysia's pride: oil rigs on the 50-ringgit note, the Petronas Towers on the 5-ringgit note, and transportation symbols on the 10-ringgit note.

What is the exchange rate?

At the time of writing, 1 USD = 4.47 MYR. Remember that exchange rates change frequently, so check again before your trip to KL.

Is Kuala Lumpur expensive for tourists?

Compared to Singapore, Kuala Lumpur is much cheaper, but it's slightly more expensive than Thailand. In general, food, travel, and daily expenses are affordable, especially if you stick to local food and budget accommodations. On average, travelers spend RM45 ($10) on meals daily and RM23 ($5.12) on local transport. A couple's average hotel price is RM263 ($59), so a week-long trip for two people costs around RM3,048 ($686).

Our top money-saving tips for Kuala Lumpur:

• Don’t exchange money before arriving in Malaysia; rates are better locally. Avoid changing money at the airport, where rates are higher.
• Malaysia’s alcohol tax rate is the third-highest globally, so think twice before splurging on drinks.
• Save cash for taxis and street food, using cards only for larger expenses like hotel bookings.
• Avoid excessive bargaining with vendors, as it's not common in Malaysian shopping culture.
• Use public transportation instead of taxis.

Using ATMs in Kuala Lumpur

ATMs are found throughout Kuala Lumpur, with lower withdrawal fees compared to Thailand’s high 220-baht fee (around US $7 per transaction).

Safety tip: Use ATMs inside or attached to bank branches to avoid card skimming. Many ATMs dispense RM100 notes, which can be challenging to break for street vendors. Try to find ATMs that issue RM50 notes or enter an amount that requires smaller denominations.

Tipping etiquette in Kuala Lumpur

Tipping isn’t expected in Malaysia, but it’s polite to tip in hotels and fine-dining restaurants or if you’ve received exceptional service. Here are some general guidelines:

• Hotels: Leave around RM5 for housekeeping, RM5-10 for porters, and consider tipping room service staff.
• Restaurants: 10% for fine dining, generally not needed otherwise unless service is exceptional.
• Bars: 10-20% tip for good service.
• Massage services: Tipping is appreciated for good service.
• Tour Guides: Common to tip for great experiences.
• Taxi Drivers: Tipping isn’t necessary, but consider tipping honest, safe drivers.

We hope this gives you insight into Kuala Lumpur and its approach to money! With these tips, you’ll be ready for an amazing trip to Malaysia.

Discover KL’s landmarks and attractions on a private tour with us! Our all-inclusive tour in Kuala Lumpur covers the National Mosque, Dataran Merdeka, The 'I Love KL' sign, Batu Caves, Petronas Twin Towers, and more!

If you’re looking for nature, be sure to visit Batu Caves, Perdana Botanical Gardens, and the Forest Eco Park.

Enjoy your trip to Kuala Lumpur!