Malaysian Ringgit MYR forecasts for 2020

Forecasts for the Malaysian ringgit change all the time, affected by news events such as the Coronavirus and relative sentiment towards the Malaysian economy. This continually updated article reviews MYR bank forecasts and popular cross-rate trends.

The ringgit is expected to weaken further in the coming months on the back of lower economic growth. Export-dependent Malaysia is expected to struggle amid tighter trade conditions brought on by the recent escalation in US-China trade tensions. Morgan Stanley said in May that USD/MYR would rise to or above RM4.22 before the end of September.

MYR in the markets

The Malaysian ringgit is up around 2.5% against the US dollar for 2020 (in August) and is gaining favour from bank commentators such as HSBC due to the attraction of the carry trade - the ability to earn higher interest when holding MYR versus other major currencies.

MYR/EUR - 90 day trend
MYR to EUR at 0.2019 was trading 2.5% below AVG:0.2071 with LO:0.1991 and HI:0.2145 (90 days). There are no current rate alerts.

What is a good MYR exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

For example, the following table looks at the change in the MYR to USD exchange rate to the present day for periods going back upto 10 years:

MYR/USD ratePeriod
04 Aug 2020 : 0.23691 Week
12 Jul 2020 : 0.234430 Days
13 May 2020 : 0.230990 Days
12 Aug 2019 : 0.23801 Year
13 Aug 2015 : 0.24895 Years
14 Aug 2010 : 0.315410 Years
MYR/USD 10 year historic rates

You can also read our full Foreign Exchange Guide to Malaysia.

Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.