Malaysian Ringgit MYR Forecasts 2021

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.

1 MYR = 0.2023 EUR

MYREUR at 0.2023 has fallen 0.9% below its 90-day average, 0.2022-0.2060 range.

90D▼LOW

16-APR 6PM-NY 11PM-LON 17-APR 6AM-HK 8AM-SYD

90D▼LOW

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

MYR Foreign Transfers – Compare and Save

What is a good Malaysian ringgit exchange rate?

Whether the ringgit will rise or drop in the future 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/USD	Period
0.2420 06 Apr 2021	1 Week
0.2428 14 Mar 2021	30 Days
0.2472 13 Jan 2021	90 Days
0.2310 13 Apr 2020	1 Year
0.2572 14 Apr 2016	5 Years
0.3306 16 Apr 2011	10 Years

MYR/USD 10 year historic rates

MYR to USD – Compare and Save

MYR/SGD	Period
0.3241 06 Apr 2021	1 Week
0.3264 14 Mar 2021	30 Days
0.3277 13 Jan 2021	90 Days
0.3269 13 Apr 2020	1 Year
0.3497 14 Apr 2016	5 Years
0.4112 16 Apr 2011	10 Years

MYR/SGD 10 year historic rates

MYR to SGD – Compare and Save

MYR/AUD	Period
0.3159 06 Apr 2021	1 Week
0.3128 14 Mar 2021	30 Days
0.3192 13 Jan 2021	90 Days
0.3610 13 Apr 2020	1 Year
0.3343 14 Apr 2016	5 Years
0.3134 16 Apr 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.