Finance, Forex and Investments

can indian rupees be converted into malaysian ringett in malaysia?what is the best way to convert INR into RM?

i am travelling to malaysia from india in july. i wanted to know what is the best way of converting my indian rupees into ringett?someone tole me to first get dollars/pounds in india and then exchange the same in malaysia for ringett?wouldnt i be paying 2 times to get my money changed.please advice

Public Comments

1. either way work.. its up to you.. PEACE =D
2. definately can convert to RM don't worry in Malaysia RM8 can convert 1000RP this is the rate in the money changer don;t be cheated
3. As far as aware money changers in Malaysia accepts Ruppes for conversion, why don't you ask the local Thomas Cook branch, whether they can give you malaysian Ringitts
4. I am not too sure if you could get a better deal by changing your USD into RM instead of from INR. I provide the rate below, you do your own assessment. The latest rate (20th June 2008) for currency notes as offered by Maybank, the biggest bank in Malaysia is 3.19 ( buying USD ), the rate INR currency notes is unavailable , i provide their OD rate which is at 7.12. For currency notes exchange it is probably at 7.00 to 7.04. The non-commerical banks licensed money changers would probably a rate ( for currency notes ) of 7.12 though. However for tourists it is always better not to change your money with commercial banks. Licensed money changers often offer a much attrative rates. Therefore, change a small sum of your money at the airport ( just enough for taxi ride ), change the rest of your money at the licensed money changers outside the airport. Money changers at the airport are all run by commercial banks, so they don't provide the best rate.