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money changer in KL

Kolkata (Calcutta...
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money changer in KL

hello mates,

i will be travelling to KL in a month, would it be better if change indian currency into US dollars in india and then further change USD into MYR at KL.

OR should i directly change indian currency into MYR in india only.

but i have heard that we get better rates in KL for the MYR.

and also would like to ask that is there any limit on the amount of MYR we can take into malaysia from outside.

please guide me, would be thankful for your advices.

Manchester, United...
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1. Re: money changer in KL

I would recommend that you change your rupees in KL( Mid Valley shopping centre has great rates) or even better if you have USD as it's about 1 USD= 3.10 Ringgit at the moment.

Not everywhere has the same rates in KL but all the malls generally have the best rates.

France
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2. Re: money changer in KL

OK, if you can change to MYR directly then do not take the tensions of changing it twice to US$ and again to MYR. Just change directly to MYR, and surely you won't have problems with currencies over there!

Kolkata (Calcutta...
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3. Re: money changer in KL

thanks a lot for the advices.....will change them there only....at kl sentral or at some other mall.

Norfolk, United...
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4. Re: money changer in KL

HI

KL Sentral is a train station, not a mall.

You will find most good rates in the shopping malls, like Sungei Wang on Bukit Bintang.

Agree, don't double change, and pay 2 sets of commission, only change once when you get to Malaysia. Plus changing too much before you go not only means you get a poor rate but also, that you are only allowed to take 1000myr in malaysian currency into Malaysia.

Kuala Lumpur...
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5. Re: money changer in KL

<< you are only allowed to take 1000myr in malaysian currency into Malaysia. >>

Sorry TM, that ruling has changed to USD10,000 (which is about RM31,000) ... far more cash than one would carry!

But frankly Malaysian customs have never checked how much we take back into Malaysia (whether RM or foreign).

Kuala Lumpur...
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6. Re: money changer in KL

As advised by Mitch- the limitation of bringing in Malaysian currency notes is still at RM1000.00.

However as advised, you are allowed to bring into Malaysia equivalent to USD10,000 of other foreign currency notes and/or negotiable bearer instruments (e.g. traveller's cheques, bearer cheques).

If exceeding this amount(i.e. USD10000), one has to declare it on Customs Form22.

Kuala Lumpur...
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7. Re: money changer in KL

@mKiara: How would customs know if the RM I bring back into Malaysia isn't the same as the ones I brought OUT of Malaysia? I frequently carry more than RM1,000 out of the country .... and most times I bring back more than RM1,000. After all RM1,000 is hardly a big amount especially when we travel. This policy doesn't make sense, does it? No wonder tourists get confused!! 17 years of living in Malaysia and I've never ever been stopped by customs ............ and it doesn't matter how much luggage/money I have with me.

Petaling Jaya...
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8. Re: money changer in KL

I agree with you Jules, its Malaysian Ringgit notes to an equivalent of USD10,000. I checked with Bank Negara on this before and they sent me an e-mail, and it is also on their website if anybody cares to double check.

Kolkata (Calcutta...
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9. Re: money changer in KL

thanks a lot, again for the detailed discussion.

Kuala Lumpur...
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10. Re: money changer in KL

bnm.gov.my/files/…en.custom.form.22.pdf

see Note no3