Malaysian Ringgit Rejection Claims Debunked: A Fact Check
Recent online claims alleging that the Malaysian Ringgit (MYR) is being rejected in countries like Thailand, the Philippines, and Saudi Arabia, while the Indonesian Rupiah (IDR) gains favor, have circulated on social media platforms including Instagram, Facebook, and TikTok. These claims, gaining traction in late January 2026, are demonstrably false, stemming from recurring misinformation and a misrepresentation of currency performance.
Origin of the Rumors
Reports of the Malaysian Ringgit being rejected abroad have surfaced repeatedly since 2016. Investigations by news agencies like Bernama, as reported by The New Straits Times, have consistently found these claims to be unsubstantiated. Currency exchange outlets in Bangkok and Jakarta have denied any issues with Ringgit transactions, confirming sufficient supplies and no restrictions on accepting the currency. The New Straits Times reported on this denial back in 2016.
The current wave of misinformation appears to originate from TikTok posts dating back to 2022, referencing an article on the Kosmo website discussing the issue. However, these claims lack official backing and are based on anecdotal reports.
Currency Exchange Policies and Operational Rights
Economic researchers emphasize that no official policy exists to block specific currencies. Currency exchange operators retain the right to accept or reject currencies based on factors such as demand, liquidity, operational costs, and risk management. As Adhitya Wardhono, a lecturer at the Faculty of Economics and Business, University of Jember, explains, outlets may also limit transactions to certain currencies for practical reasons.
Rupiah and Ringgit Performance: The Reality
Contrary to circulating claims, the Malaysian Ringgit was actually the best-performing currency in 2025, according to Free Malaysia Today. Conversely, the Indonesian Rupiah experienced a decline against several regional currencies in early 2026.
Data up to January 21, 2026, shows the Rupiah fell 2.98% against the Thai Baht, 1.95% against the Malaysian Ringgit, and 1.78% against the Singapore Dollar, as reported by CNBC Indonesia.
As of February 6, 2026, it took approximately Rp4,270 to obtain 1 MYR, further illustrating the weakening of the Rupiah against the Ringgit, as noted by Adhitya Wardhono. Teuku Riefky, a macroeconomic researcher at the University of Indonesia, also confirms the relative stability of the Ringgit, despite slower economic growth compared to Indonesia.
Indonesia’s Currency Instability
Riefky attributes the Rupiah’s instability to a lack of market transparency and policy uncertainty, leading to capital outflows from Indonesia.
Conclusion
Fact-checking by Tempo has definitively concluded that the narrative claiming rejection of the Malaysian Ringgit and a surge in demand for the Indonesian Rupiah is false. The claims originated from social media posts in 2022 and are contradicted by recent currency performance data. The Rupiah has, in fact, weakened against the Ringgit over the past year.