Russian banks don't sell ringgit: 3 ways to actually exchange MYR
Most Russian banks wound down operations with exotic currencies since 2022, and the Malaysian ringgit is among the first in line. Sberbank, VTB, Alfa-Bank, and most regional banks do not accept or issue MYR. If you need to exchange ringgit for rubles, there are three working options. First - specialized exchange services working with niche currencies: find them through exchange rate monitors, check for MYR in the list of pairs. Second - exchange via an intermediary country: first exchange ringgit for Thai baht, dirhams, or dollars in a market with developed exchange, then convert to rubles. Third - money transfer services like ATM24: requests are submitted via WhatsApp or Telegram, and the operator gives a rate based on actual conditions at the time of exchange.
The exchange goes via USD or CNY: why the final rate will be worse than the converter shows
When you convert ringgit to rubles, the money does not travel directly along the MYR-RUB route. The bank or service first evaluates the ringgit in dollars (USD) or yuan (CNY), then converts the intermediate amount to rubles. Each of the two steps has its own spread - a markup you don't see as a separate line in the calculation. The final rate at an exchange office or service is always worse than in an online converter: the converter shows the interbank price without spread, while actual exchange includes it. The difference between the converter and the actual exchange office always exists. When exchanging 50,000 ringgit (around 1 million rubles), even a small markup results in tens of thousands of rubles difference between what you expected and what you actually received. That is why it is worth comparing several offers by the final ruble amount - not just by the converter rate figure.
Ringgit or renggit: which spelling is correct and why it matters for search
The official name of the Malaysian currency in Russian is ringgit. The spelling renggit is a popular error found even in bank documents. As a result, search queries split into two streams: some search for the ringgit to ruble rate, others for the renggit to ruble rate. Search results differ: one search yields more converters, the other forums and niche sites. If the needed result wasn't found - try both spellings. In both cases it refers to the same currency: MYR, Malaysia, ISO 4217.
