Malaysia Ringgit

What do you know about Malaysia Ringgit? This is the currency of Malaysia. The currency code is MYR but the currency symbol is RM. The average rate against USD is around 3.00-3.33. The Ringgit is issued by Bank Negara Malaysia.

The currency name Ringgit was officially adopted in 1975, previously its had been called as Dollar. The average basic salary for degree holder in Malaysia is between RM3000 - RM5000. I believe this is just enough to survive if they are living in Kuala Lumpur. For that reason, many are looking for opportunities to make extra money.

I am not sure how much is needed to live and not just to survive. But what I can do is to list down the expenses for ordinary husband and wife who live in Kuala Lumpur.

Monthly Expenses for Husband & Wife;

• House Mortgage/Rent - RM1500
• Proton Saga Car Loan - RM500
• Two Phone Bills - RM250
• Utilities- RM250
• Astro - RM150
• Groceries - RM500
• Fuel - RM500
• Kids - RM500
• Shopping & Leisure -RM350

Total Estimated Expenses is RM 4500.

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