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Injective to Malaysian Ringgit Converter and calculator

Convert 1Injective (INJ) to Malaysian Ringgit (MYR) equals RM 116.23 | Bitget
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Last updated 2023/09/01 02:23:05 (UTC+0)Refreshrefresh
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Bitget converter offers real-time exchange rates, allowing for easy conversion of Injective(INJ) to Malaysian Ringgit(MYR). This is the real-time data. The current conversion shows 1 INJ at a value of 1 INJ for 116.23 MYR . Since crypto prices can change rapidly, we suggest checking back for the latest conversion result.

MYR information

About the Malaysian Ringgit (MYR)

What Is the Malaysian Ringgit (MYR)?

The Malaysian Ringgit, abbreviated as MYR and often represented by the symbol "RM," is the official currency of Malaysia. RM stands for "Ringgit Malaysia." The term "Ringgit" means "jagged" in Malay, originally referring to the serrated edges of silver Spanish dollars. The Ringgit is divided into 100 smaller units known as sen. The Malaysian Ringgit is the sole legal tender in Malaysia, and it is used for all transactions within the country.

The Malaysian Ringgit is issued by the Central Bank of Malaysia, known as Bank Negara Malaysia. Established on January 26, 1959, under the Central Bank of Malaysia Act 1958, Bank Negara Malaysia is the sole authority responsible for issuing currency in Malaysia. In addition to currency issuance, the central bank also manages monetary policy, financial stability, and the overall financial system infrastructure in the country.

What Is the History of MYR?

The Ringgit has a rich history, tracing back to the times when Malaysia was a part of European colonial powers. Initially, the Spanish dollars were used, later replaced by the Indian Rupee in 1837, and then reintroduced 30 years later. The Straits Dollar took over in 1903, pegged at two shillings to the British Pound. The Malaysian Ringgit was introduced in 1967, replacing the Dollar Malaya, which was also used by Singapore and Brunei.

Notes and Coins of MYR

The first series of coins and banknotes were issued in 1967. Over the years, various denominations have been used, including 1, 5, 10, 20, and 50 sen coins, and RM1, RM5, RM10, RM20, RM50, RM100 banknotes. The RM500 and RM1000 notes were discontinued in 1999 due to the Asian Financial Crisis.

Is MYR Pegged to the US Dollar?

The Malaysian Ringgit (MYR), issued by Bank Negara Malaysia, is not pegged to the US Dollar. Historically, during the Asian Financial Crisis in 1998, Malaysia had pegged the Ringgit to the US Dollar at a rate of 3.8 MYR to 1 USD to stabilize its economy. However, this peg was removed on July 21, 2005, following a similar decision by China regarding the Renminbi. Since then, the Ringgit has been operating under a managed float system, where its value is determined by market forces of supply and demand, with occasional interventions by the central bank to ensure stability. This transition reflects a move towards aligning the Ringgit's value more closely with Malaysia's economic fundamentals and market dynamics.

What Is the Price History of MYR?

The Malaysian Ringgit (MYR) has experienced a dynamic price history, significantly influenced by regional and global economic events. Before 1998, the Ringgit's value fluctuated in response to domestic and international economic conditions. The Asian Financial Crisis of 1997-1998 dramatically impacted the Ringgit, leading Malaysia to peg it to the US Dollar at 3.8 MYR to 1 USD in 1998 for stability. This peg was removed in 2005, transitioning the Ringgit to a managed float system where its value is determined by market forces, though occasionally stabilized by interventions from Bank Negara Malaysia. Since then, the Ringgit's valuation has been influenced by various factors, including global oil prices, Malaysia's economic policies, US-China trade tensions, and domestic political scenarios, reflecting its sensitivity to both internal and external economic dynamics. As of January 2024, the Malaysian Ringgit is trading at a rate of 1 MYR = 0.22 US dollars.

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Bitget crypto-to-fiat exchange data shows that the most popular Injective currency pair is the INJ to MYR, with for Injective's currency code being INJ. Use our cryptocurrency calculator now to see how much your cryptocurrency can be exchanged for MYR.

INJ to MYR conversion rate trend

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In the past 1D, Injective has changed -0.37% to MYR. Based on the trend and price charts, Injective(INJ) has changed -0.37% to MYR while Malaysian Ringgit(MYR) has changed % to INJ in the last 24 hours.

Conversion rate comparison of various exchanges

ExchangePriceMaker / Taker FeeTradable
Bitgethot-iconBest
RM115.73
0.0001% / 0.0004%vip-iconVIP
Binance
RM115.5
0.1000% / 0.1000%
Yes
OKX
RM115.62
0.080% / 0.100%
Yes
Huobi
RM114.57
0.1000% / 0.1000%
Yes
Gate.io
RM115.55
0.1000% / 0.1000%
Yes
Bybit
RM115.69
0.1000% / 0.1000%
Yes
KuCoin
RM115.56
0.1000% / 0.1000%
Yes
Bitfinex
RM117.3
0.1000% / 0.1000%
Yes
Last updated 2024/05/19 18:00:22(UTC+0)

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What factors influence the conversion rate of Injective to Malaysian Ringgit?

Injective to Malaysian Ringgit is rising this week.
Injective's current market price is RM 116.23 per INJ, with a total market cap of RM 10,855,751,998.52 MYR based on a circulating supply of 93,400,000 INJ. The trading volume of Injective has changed by -9.47% (RM -25,859,827.15 MYR) in the last 24 hours. Last trading day, INJ's trading volume was RM 273,157,569.93.
Market cap
$2.32B
24h volume
$52.76M
Circulating supply
93.40M INJ

Conversion tables

The exchange rate of Injective is decreasing.
1 INJ is currently valued at RM 116.23 MYR , which means buying 5 INJ will cost RM 581.14 MYR . Similarly, RM1 MYR can be traded for 0.008604 INJ, and RM50 MYR can be converted to 0.4302 INJ, excluding any platform or gas fees.
The exchange rate of 1 INJ to Malaysian Ringgit has changed by +4.33% in the last 7 days. In the last 24 hours, the rate has fluctuated by -0.37%, reaching a high of 118.12 MYR and a low of 113.74 MYR . One month ago, the value of 1 INJ was RM 130.77 MYR , which represents a -11.12% change from its current value. Over the last year, Injective has changed by
+RM
35.12MYR
, resulting in a change of +239.59% in its value.

INJ to MYR

Amount
18:20 today
0.5 INJ
RM58.11
1 INJ
RM116.23
5 INJ
RM581.14
10 INJ
RM1,162.29
50 INJ
RM5,811.43
100 INJ
RM11,622.86
500 INJ
RM58,114.31
1000 INJ
RM116,228.61

MYR to INJ

Amount18:20 today
0.5MYR0.004302  INJ
1MYR0.008604  INJ
5MYR0.04302  INJ
10MYR0.08604  INJ
50MYR0.4302  INJ
100MYR0.8604  INJ
500MYR4.3  INJ
1000MYR8.6  INJ
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Today vs. 24 hours ago

Amount18:20 today24 hours ago24h change
0.5 INJ$12.4$12.44
-0.37%
1 INJ$24.8$24.89
-0.37%
5 INJ$123.98$124.44
-0.37%
10 INJ$247.95$248.87
-0.37%
50 INJ$1,239.77$1,244.36
-0.37%
100 INJ$2,479.54$2,488.73
-0.37%
500 INJ$12,397.72$12,443.65
-0.37%
1000 INJ$24,795.44$24,887.29
-0.37%

Today vs. 1 month ago

Amount18:20 today1 month ago1M change
0.5 INJ$12.4$13.95
-11.12%
1 INJ$24.8$27.9
-11.12%
5 INJ$123.98$139.49
-11.12%
10 INJ$247.95$278.97
-11.12%
50 INJ$1,239.77$1,394.87
-11.12%
100 INJ$2,479.54$2,789.74
-11.12%
500 INJ$12,397.72$13,948.7
-11.12%
1000 INJ$24,795.44$27,897.4
-11.12%
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Today vs. 1 year ago

Amount18:20 today1 year ago1Y change
0.5 INJ$12.4$3.65
+239.59%
1 INJ$24.8$7.3
+239.59%
5 INJ$123.98$36.52
+239.59%
10 INJ$247.95$73.04
+239.59%
50 INJ$1,239.77$365.2
+239.59%
100 INJ$2,479.54$730.41
+239.59%
500 INJ$12,397.72$3,652.03
+239.59%
1000 INJ$24,795.44$7,304.05
+239.59%

Injective price prediction

What will the price of INJ be in 2025?

Based on INJ's historical price performance prediction model, the price of INJ is projected to reach $28 in 2025.

What will the price of INJ be in 2030?

In 2030, the INJ price is expected to rise by +4.00%. By the end of 2030, the INJ price is projected to reach $47.74, with a cumulative ROI of +92.55%.
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This content is being provided to you for informational purposes only, does not constitute an offer, or solicitation of an offer nor a recommendation by Bitget to buy, sell, or hold any security, financial product, or instrument referenced in the content, and does not constitute investment advice, financial advice, trading advice, or any other sort of advice. Data presented may reflect asset prices traded on the Bitget exchange as well as other cryptocurrency exchanges and market data platforms. Bitget may charge fees for the processing of cryptocurrency transactions which may not be reflected in the conversion prices displayed. Bitget is not liable for any errors or delays in content or for any actions taken in reliance on any content.