1. Exchange Rates
  2. Malaysian ringgit (MYR)
  3. Canadian dollar (CAD)

Convert MYR to CAD at Best Exchange Rates


There are three amounts that you need to understand if you are to have any chance of getting the best possible MYR to CAD rate, these are :

  1. The MYR/CAD foreign exchange market mid-rate
  2. The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider
  3. Any fixed or percentage fees for your transfer or currency exchange.

1 Malaysian ringgit equals
Canadian dollar 1=


Right now the MYR/CAD market rate is and represents how many Canadian dollar you can get for one Malaysian ringgit. You can calculate with the current mid-rate using our MYR to CAD calculator below but note the rate will most likely be quite different by the time you make you currency exchange.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time comparison calculators make shopping around easy and help you calculate how much you can save.



Why can't I just get the same MYR/CAD market rate I see on Google or in the Media?

When you look up the current Malaysian ringgit to Canadian dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.

Getting a great MYR to CAD mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use the below MYR to CAD calculator to convert currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Malaysian ringgit cross rates and reviews of leading foreign exchange providers versus the Banks.

MYR to CAD mid-rate calculator

RM
$
1 MYR equals
CAD 1MYR=CAD


Compare rates for: Currency Exchange or Foreign Transfers
Loading MYR/CAD Chart

Malaysian ringgit - market update

The Malaysian ringgit ended 2017 with a bang. The final session of the year saw the ringgit rally to a fifteen-month high of US$ 0.2473 (USD/MYR 4.044) and also record its ninth consecutive weekly gain. The ringgit also overtook the Thai baht to become the second-best performing Asian currency of the year. The ringgit gained 10.9% against the dollar in 2017, falling short only against the South Korean won, which gained 13.2%.

The ringgit benefitted in the latter part of the year from bets that the Malaysian central bank would soon raise interest rates and from an impressive year-end rally in commodities prices, especially oil, which ended 2017 breaching $60 per barrel for the first time since mid-2015.

The ringgit’s trajectory in 2017 will have been a welcome change for Malaysians (barring exporters), who had to watch the currency’s value tumble to a nineteen-year low in 2016.

Canadian dollar - market update

Of the many drivers of the Canadian dollar in 2017, chief among them were the hawkishness of the Bank of Canada, oil prices and the uncertainty surrounding NAFTA negotiations with the US and Mexico.

The Canadian dollar ended the year on a high, reaching ten-week highs of 79.9 US cents and 90.04 yen on the final trading day of the year. Like other “petro-currencies,” the Canadian dollar piggybacked off an impressive year-end rally in oil and other commodities. In their last session of the year, oil futures broke $60 per barrel for the first time since mid-2015. The “loonie” is positively correlated with oil due to Canada’s status as the world’s fourth largest oil exporter.

For 2018, ABN Amro are forecasting a slightly lower CAD/USD rate of 0.7813. The bank sees CAD/EUR rising to 0.6793 (2017 year-end rate: 0.6625).

With two rate hikes under its belt since July, the Bank of Canada is one of only two major central banks (together with the US Federal Reserve) to have entered a policy tightening cycle. ABN Amro expects the BoC to hike twice more in 2018.

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