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    MYR to USD 2024 Forecasts

    Analysis of recent Ringgit→Dollar forecasts for 2024. We collate forecasts from respected FX analysts together with the latest Malaysian ringgit to US dollar performance and trends.


    Forecasts for MYR to USD

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    Based on recent exchange rate forecasts from FX analysts, the Malaysian Ringgit (MYR) is expected to end 2023 with an exchange rate range of 4.20 to 4.30 per US dollar. This forecast is based on the belief that the US dollar has already reached its peak and is likely to experience a reversal in strength as the Federal Reserve's interest rate hike cycle comes to an end. Additionally, the fundamentals of the Malaysian Ringgit are considered to be strong, with the recovery of the tourism sector expected to support its strength. An increase in tourism could lead to a narrower deficit in Malaysia's services account, positively impacting the Ringgit.

    It is worth noting that MYR to USD is currently trading at 0.2135, just above its 3-month average, indicating relative stability. Furthermore, the MYR can be influenced by oil price movements, and it is significant to mention that OIL to USD is currently 8.0% below its 3-month average. This suggests that oil prices, which affect Malaysia as one of the largest oil producers in Asia, are currently lower. The relatively cheaper Ringgit combined with Malaysia's lower cost of living has also attracted foreign interest, with increased enquiries for sale and rental properties being reported by Malaysian real estate agents.

    In summary, while the MYR to USD exchange rate is currently within a stable range, the forecast indicates a potential strengthening of the Malaysian Ringgit in the future. Factors such as the expected reversal of the US dollar's strength, the recovery of the tourism sector, and the attractiveness of Malaysia as a more affordable alternative for foreigners could contribute to the MYR's continued strength in the long term.


    MYR to USD Market Data

    Malaysian ringgit (MYR) to US dollar (USD) market data - latest interbank mid-rate, trend, chart & historic rates.

    1 MYR =
    0.2152We compare provider deals to this wholesale mid-market rate. Read more
    MYR to USD at 0.2140 is just 0.5% above its 3-month average of 0.2129, having traded in a very stable 3.2% range from 0.2090 to 0.2157
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    Compare & Save - Malaysian ringgit to US dollar

    Exchange rates can vary significantly between different currency exchange providers, so it's important to compare Malaysian ringgit (MYR) to US dollar (USD) rates from different sources before making a conversion.

    Use our MYR to USD calculator to see how much you could save on your international money transfers. makes it easy to compare the Total Cost you are being charged on Ringgit to Dollar currency rates and the possible savings of using various providers.

    14 Nov 2023
    1% 2 Week
    30 Aug 2023
    0.7% 3 Month
    28 Nov 2022
    4.1% 1 Year
    29 Nov 2018
    10.5% 5 Year
    30 Nov 2013
    31% 10 Year
    03 Dec 2003
    18.7% 20 Year
    MYR/USD historic rates & change to 28-Nov-2023

    Will the Malaysian ringgit rise against the US dollar?

    It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.

    To help with this you can add MYR/USD to your personalised BER Smart Rate Tracker to track and benefit from currency movements.

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    Rather than requiring you to set a target rate, our FX Alerts work differently. Once you add a currency pair for tracking in your watchlist we can select to be notified daily for any UP DOWN HIGH LOW alerts over a range of periods over the recent 90 days.

    Read our Currency guide to the United States - a practical currency and money guide to travel, living and doing business in the United States with the US dollar.


    Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more