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Convert MYR to EUR at Best Exchange Rates


There are two main numbers that you need to understand if you are to have any chance of getting the best possible MYR to EUR rate, these are the foreign exchange market rate and the transaction margin you will be charged by your bank or foreign exchange provider.


1 Malaysian Ringgit equals
Euro 1=


Right now the MYR to EUR market rate is but will most likely be quite different by the time you make you currency exchange. You can calculate with the current mid-rate using our MYR to EUR calculator below.

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/EUR market rate I see on Google or in the Media?

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

Getting a great MYR to EUR 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 EUR 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 EUR market rate calculator & info

RM
1 MYR equals
EUR 1MYR=EUR

Loading MYR/EUR Chart

Malaysian Ringgit - Recent Performance

The Malaysian ringgit was Asia’s best performing currency in September. While many Asian currencies lost ground against the US dollar, the ringgit finished the month 1.2% stronger than it had been in August, buying $0.236 (USD/MYR 4.232). The ringgit’s year-to-date gain over USD rose to 6%.

The ringgit’s recent stability marks a refreshing change for those in Malaysia. The currency had been Asia’s worst performer in 2016.

Recent economic data from Malaysia has been excellent. Export growth is now above 30% per annum, industrial production above 6% and inflation ticked up to 3.7% in August, from 3.2% in July.

The team at BMI Research said in September that the ringgit would appreciate further against USD to $0.244 (USD/MYR 4.1) by the end of Q1 2018. BMI cited continued efforts by Malaysia’s government to reduce its fiscal deficit and strength in the Chinese yuan as their reasons. BMI said that risks to the ringgit included American protectionism and the Federal Reserve hiking interest rates faster than markets were expecting.

Important trading partners for Malaysia include Singapore and China. Against the Chinese yuan, the ringgit had its best month in fifteen as it gained 2.2% to ¥1.576. Against the Singapore dollar, the ringgit had its best month in five, gaining 1.3% to S$0.321.

Euro - Recent Performance

In mid-October, the euro was floating around 1.18 against the dollar, having pulled back from September’s long-term highs close to 1.21.

Against the British pound, the euro stood at 0.897. It had been as high as 0.9306 in August – a level that hadn’t been achieved since 2009.

Speculation surrounding the end of the ECB’s quantitative easing program has driven euro appreciation this year. For the first time since its introduction, the central bank will discuss tapering QE at its meeting on October 26th.

In September, Dutch bank ABN Amro predicted EUR/USD would rise to 1.3 by the end of 2018. As reasons for the pair’s climb, ABN cited “strong conviction” on future US dollar weakness and less stimulative ECB policy.

In September, HSBC cancelled its forecast for the euro to rise to parity with the pound. HSBC’s revised year-end forecast now places EUR/GBP at 0.893.

A divergence in the paths of monetary policy between the ECB and the Swiss National Bank will lead to EUR/CHF climbing to 1.18 in the medium term, from October's rate of 1.154, according to a prediction by Credit Agricole.

Bank of America Merrill Lynch go one further on EUR/CHF. The bank has a “minimum target” of 1.20 by the end of 2018. BAML says that EUR/CHF “looks cheap relative to its longer-term moving averages.”

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