Switch

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 8% (to late November) against the US dollar since the beginning of the pandemic crisis in March 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.


 

MYREUR Trend & Alerts

MYREUR at 0.2045 is near its 90-DAY average, range 0.2014-0.2067.
🔔 MYREUR is UP 0.5% TODAY and at 30-DAY HIGHS.
|
Alerts:1-DAY0.5% | 30-DAY HIGHS |
Malaysian Ringgit to Euro
Invert Rate
SELL EUR / BUY MYR

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

MYR Foreign Transfers – Compare and Save

 

What is a good Malaysian dollar 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 against a range of currencies and in particular against the currency you are interested in exchanging.

For example, the following tables look at the change in the MYR exchange rate to the present day for periods going back 10 years for popular MYR exchange rates.

MYR/USDPeriod
0.2462
22 Dec 2020
1 Week
0.2457
29 Nov 2020
30 Days
0.2407
30 Sep 2020
90 Days
0.2435
30 Dec 2019
1 Year
0.2325
31 Dec 2015
5 Years
0.3260
01 Jan 2011
10 Years

MYR/USD 10 year historic rates

MYR to USD – Compare and Save

MYR/SGDPeriod
0.3287
22 Dec 2020
1 Week
0.3287
29 Nov 2020
30 Days
0.3285
30 Sep 2020
90 Days
0.3283
30 Dec 2019
1 Year
0.3295
31 Dec 2015
5 Years
0.4182
01 Jan 2011
10 Years

MYR/SGD 10 year historic rates

MYR to SGD – Compare and Save

MYR/AUDPeriod
0.3262
22 Dec 2020
1 Week
0.3320
29 Nov 2020
30 Days
0.3359
30 Sep 2020
90 Days
0.3477
30 Dec 2019
1 Year
0.3195
31 Dec 2015
5 Years
0.3195
01 Jan 2011
10 Years

MYR/AUD 10 year historic rates

MYR to AUD – Compare and Save

 

 
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.