120 AUD to MYR: Convert Australian Dollars to Malaysian Ringgit
What is the Current Exchange Rate?
As of the current market exchange rate, 1 Australian Dollar (AUD) is equivalent to approximately 2.98 Malaysian Ringgit (MYR). Therefore, 120 AUD is equal to:
120 AUD = 357.60 MYR
History of AUD to MYR Exchange Rate
The exchange rate between AUD and MYR has experienced fluctuations over the years, influenced by various economic factors such as inflation rates, interest rates, and global market conditions.
In the past year, the highest exchange rate was recorded in February, where 1 AUD was equivalent to 3.14 MYR. Meanwhile, the lowest rate was recorded in August, where 1 AUD was equivalent to 2.81 MYR.
Why Convert AUD to MYR?
There are several reasons why individuals or businesses might need to convert AUD to MYR:
- Travel: Australian tourists visiting Malaysia may need to exchange their currency to pay for accommodations, food, and other travel-related expenses.
- International Trade: Companies that import or export goods between Australia and Malaysia may need to convert AUD to MYR to settle transactions.
- Investment: Investors who hold assets in AUD may choose to convert their currency to MYR to take advantage of investment opportunities in Malaysia.
How to Convert AUD to MYR?
There are several ways to convert AUD to MYR, including:
- Banks: Individuals can visit banks that offer foreign exchange services to convert their AUD to MYR.
- Currency Exchange Offices: Specialized currency exchange offices, such as Travelex or Western Union, provide AUD to MYR conversion services.
- Online Currency Converters: Online platforms, such as XE.com or Oanda.com, offer AUD to MYR conversion rates and allow users to make transactions online.
Conclusion
Converting 120 AUD to MYR is a straightforward process that can be done through various channels. By understanding the current exchange rate and the factors that influence it, individuals and businesses can make informed decisions when converting their currency.
