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    MYR to USD Forecasts

    Analysis of recent ringgit→dollar forecasts. We collate forecasts from respected FX analysts together with the latest MYR to USD performance and trends.


    Forecasts for MYR to USD


    According to recent exchange rate analyst forecasts and currency market updates, the Malaysian ringgit (MYR) has been lifted by gains in oil prices. However, economists still expect the MYR to continue losing value against the US dollar (USD) in the medium term, with a potential target of USD/MYR 5. This could be advantageous for businesses importing from Malaysia.

    On the other hand, the USD has been strengthened by sticky inflation and safe-haven flows amid simmering US-China geopolitical tensions. Additionally, the US Federal Reserve Chairman, Jerome Powell, no longer expects a recession and sees rate cuts being evaluated a year from now. However, headwinds for commodity currencies have been created by China's partial removal of import restrictions, which failed to stimulate global economies as expected.

    Looking ahead, it is anticipated that the MYR will end 2023 with an exchange rate range of 4.20 to 4.30 per USD. The fundamentals of the Malaysian ringgit remain strong, supported by a potential recovery in the tourism sector, which could narrow the services account deficit and positively impact the currency. Long-term weakness in the MYR may also attract expatriates and high-value foreigners to invest in Malaysia, driven by the relatively cheaper ringgit and lower cost of living compared to neighboring countries.

    As for the USD, economists predict that its strength over the past year will eventually reverse in 2023 as the Federal Reserve's interest rate hikes cycle concludes. Furthermore, the US oil consumption and production dynamics, with a significant shortfall primarily imported from Canada, can impact the USD.

    In terms of recent price data, the MYR to USD exchange rate is currently at 30-day lows near 0.2166, just 0.6% below its 3-month average of 0.2178. On the other hand, the OIL to USD price has been trading above its 3-month average, indicating a volatile 9.6% increase. Given the MYR's sensitivity to oil price movements, this could impact its value against the USD.

    Overall, considering the forecasted trends and recent data, it is advisable for businesses importing from Malaysia to take advantage of the current exchange rate conditions. However, it is crucial to regularly monitor updates from FX analysts and economists to stay informed and make informed decisions regarding international transactions.

    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.


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    MYR to USD Market Data

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

    1 MYR =
    0.2133We compare provider deals to this wholesale mid-market rate. Read more
    MYR to USD at 0.2132 is 1.4% below its 3-month average of 0.2162, having traded in a very stable 3.9% range from 0.2129 to 0.2213
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    07 Sep 2023
    0.2% 2 Week
    23 Jun 2023
    0.3% 3 Month
    21 Sep 2022
    3% 1 Year
    22 Sep 2018
    11.9% 5 Year
    23 Sep 2013
    31.9% 10 Year
    26 Sep 2003
    19% 20 Year
    MYR/USD historic rates & change to 21-Sep-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