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Best MYR to GBP Exchange Rate

There are two main numbers that you need to understand if you are to have any chance of getting the best possible MYR to GBP 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
British Pound Sterling 1=

Right now the MYR to GBP 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 GBP 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/GBP market rate I see on Google or in the Media?

When you look up the current Malaysian Ringgit to British Pound Sterling 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 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 mid-market 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 GBP converter to calculate 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 GBP calculator

1 MYR equals

Loading MYR/GBP 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.

British Pound Sterling - Recent Performance

Between mid-September and mid-October, sterling fell 3.5% against the dollar to $1.319, taking “cable” back to levels experienced in the three-month period following 2016’s EU referendum.

Against the euro, within the same period, sterling fell by 1.3% to €1.121 but it remains within the middle third of its 2017 range.

In mid-October, opinions on the British currency were mixed. Although Bank of England hawkishness meant that 75% of economists were predicting a November interest rate hike, which would normally be sterling-supportive, a “no deal” Brexit was looking increasingly possible and that prompted some pretty gloomy predictions.

In a “no deal” scenario, both ING and J.P. Morgan predicted that the pound would lose 13% of its value against the dollar by falling to $1.15.

Other negative news for the UK came in October with the ONS’ surprise downward revision to the UK’s wealth by some £490 billion! Ratings agencies had already been downbeat on the UK’s finances. In September, Moody’s downgraded the UK’s credit rating from Aa1 to Aa2 on the grounds that “fiscal pressures will be exacerbated by [the UK’s] departure from the EU.”

On a more positive note, in September, HSBC cancelled its forecast for the pound to fall to parity with the euro. HSBC’s revised year-end forecasts now place GBP/EUR at €1.12 and GBP/USD at $1.35.

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