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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

 

FX analysts have mixed opinions on the future trajectory of the Malaysian Ringgit (MYR) against the US Dollar (USD). While some foresee the MYR weakening further against a strong USD, others anticipate intermittent bounces but overall pressure on the MYR. Societe Generale even suggests the USD/MYR pair could trend higher towards 4.95. Recent market dynamics, with the USD rallying due to unexpected inflation acceleration in the US, have contributed to this uncertainty. The MYR to USD exchange rate currently sits just above its 3-month average at 0.2133, trading in a relatively stable range. Additionally, oil prices, which can influence the MYR, have been volatile, with Brent Crude OIL/USD trading 5.8% above its 3-month average.

Looking ahead, the MYR may be influenced by factors such as the continued strength of the USD, Malaysian economic fundamentals, and oil price movements. The Malaysian Ringgit is expected to end 2023 within a range of 4.20 to 4.30 per USD, driven by various factors including tourism sector recovery and potential interest from expatriates due to the currency's weakness. The US economy remains robust, with a recent surge in jobs data suggesting a delay in potential rate cuts, impacting the USD's strength. As markets anticipate a rate reduction in June, the upcoming US data releases, such as CPI and Retail Sales, could further shape market expectations and impact the MYR/USD exchange rate.

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MYR to USD Market Data

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

 
1 MYR =
0.2116We compare provider deals to this wholesale mid-market rate. Read more
USD
-0.3%
📉1W
MYR to USD is at 7-day lows near 0.2119, just below its 3-month average, having traded in a quite stable 4.4% range from 0.2084 to 0.2176
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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.

 
DateMYR/USDChangePeriod
04 Mar 2024
0.2117
0.1% 2 Week
19 Dec 2023
0.2135
0.7% 3 Month
19 Mar 2023
0.2229
4.9% 1 Year
20 Mar 2019
0.2462
13.9% 5 Year
21 Mar 2014
0.3023
29.9% 10 Year
23 Mar 2004
0.2632
19.5% 20 Year
MYR/USD historic rates & change to 18-Mar-2024
 

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 Rate Tracker to track and benefit from currency movements.

 
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Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.

Keep track of currency Trends; Up📈 or Down📉 trends over periods from 1 week (1W) to 3 months (3M).

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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