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Malaysian Ringgit MYR Forecasts 2021

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 at 0.2023 has fallen 0.9% below its 90-day average, 0.2022-0.2060 range.
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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/USDPeriod
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/SGDPeriod
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/AUDPeriod
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.