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Best Exchange Rates Malaysia

Compare & Save on Malaysian Ringgit (MYR) Exchange Rates from leading foreign exchange providers in Malaysia

 

We help you Compare & Save Money on Exchange Rates.

 

View all MYR Exchange Rates

 

We compare and review only trusted regulated FX brands

  • Transferwise
  • OFX
  • World First
  • TorFX
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Compare the actual market exchange rates

You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from MYR to USD.

Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer ProvidersReceive USD($)Exchange RateFee MYRTotal CostTransfer ServicesTransfer SpeedDeal Links
Instarem logo
2,380 USD0.23800.63%
OFX logo
2,385 USD0.238500.42%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
Maybank International Money Transfers
Maybank logo
2,287.89 USD0.2311RM1004.47%Online, Branch, Bank Transfers2-3 days
OCBC Bank International Money Transfers
OCBC Bank logo
2,287.89 USD0.2311RM1004.47%Online, Branch, Bank Transfers2-3 days
United Overseas Bank International Money Transfers
United Overseas Bank logo
2,287.89 USD0.2311RM1004.47%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
2,273 USD0.2288155.11%Online, Branch, Bank Transfers2-3 days
HSBC logo
2,259.61 USD0.2263RM155.65%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
2,239.31 USD0.2242126.5%Online, Branch, Bank Transfers2-3 days
Instarem: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.2380 (0.63% from mid-rate)
USD amount:2,380 USD
Total Cost:0.63%
Time:1:06 Local
Transfer Speed:
Services:
Rating:
 
: 3.9/5.0
Reviews:
 
OFX: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.2385 (0.42% from mid-rate)
USD amount:2,385 USD
Total Cost:0.42%
Difference:
5 USD more than using Instarem
Time:
Rate Fetched: 1:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Maybank logoMaybank

Maybank: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2311 (3.51% from mid-rate)
USD amount:2,287.89 USD
Total Cost:4.47%
Difference:
92 USD less than using Instarem
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

OCBC Bank logoOCBC Bank

OCBC Bank: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2311 (3.51% from mid-rate)
USD amount:2,287.89 USD
Total Cost:4.47%
Difference:
92 USD less than using Instarem
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

United Overseas Bank logoUnited Overseas Bank

United Overseas Bank: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2311 (3.51% from mid-rate)
USD amount:2,287.89 USD
Total Cost:4.47%
Difference:
92 USD less than using Instarem
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:15
Exchange Rate:0.2288 (4.47% from mid-rate)
USD amount:2,273 USD
Total Cost:5.11%
Difference:
107 USD less than using Instarem
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:RM15 MYR (.15%)
Exchange Rate:0.2263 (5.51% from mid-rate)
USD amount:2,259.61 USD
Total Cost:5.65%
Difference:
120 USD less than using Instarem
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:12
Exchange Rate:0.2242 (6.39% from mid-rate)
USD amount:2,239.31 USD
Total Cost:6.5%
Difference:
141 USD less than using Instarem
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
05/19/2019

 

MYR Market Outlook

MYR/USD – 3 month chart

The period between April and November 2018 was a tough one for the ringgit, as it lost value against the dollar on a near-weekly basis. Fortunately, losses in that period only amounted to 8 percent and only took the currency to a 1-year low of RM4.2 — it could have been much worse.

Since then, the ringgit has turned a corner; in late February it was trading at RM4.06, near 6-month highs.


 

Money Saving Guides

A Guide to Buying Overseas Property

Tips on Buying your dream property abroad.

Last update: 3 May, 2019

Save Money with Regular Overseas payments

Setting up regular international payments is easy and can save you time and money If you have recurring overseas transfers to make, consider automating them to simplifying your personal administration and save time in the process. Whether that be for paying an overseas mortgage, receiving a foreign pension, or paying for overseas tuition fees for […]

Last update: 3 May, 2019

Expats Repatriating Funds

Managing exchange rates can be an important for expats repatriating overseas funds & earnings – Send money home at better rates Expats, international investors and frequent travelers often need to move money between countries & currencies and the conventional bank systems for doing this are often slow, cumbersome and expensive. A host of services has […]

Last update: 3 May, 2019

Best exchange rates sending money abroad

The holy grail when you send money abroad is finding an organisation that you can trust and one that offers the best exchange rates along with transparent, smart and straightforward customer service.

Last update: 3 May, 2019

 

Foreign Exchange News

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

World Accounts now let your business collect funds and pay local suppliers in HKD or make payments to offshore CNY (CNH) accounts in China.

16 May, 2019 by BER Team

Australian Dollar at 4-Month Low After China Announces Tariff Retaliation

The US-China trade war is hotting up and that’s bad news for the Australian dollar, which slipped on Monday to a 4-month low against the dollar, euro and yen.

13 May, 2019 by Joel Wright

 

Singapore dollar Market Outlook

SGD/MYR – 3 month chart

A big-picture view shows SGD trading sideways against the pound since late 2016, now at S$1.763. SGD reached a 17-month high against the Malaysian ringgit in April, at RM3.073.

With core inflation at a 9-month low in the lead-up to this report and quarterly economic growth at a 2-year low, it’s likely that the Monetary Authority of Singapore will keep monetary policy unchanged when it next meets in October.

According to TradingEconomics.com, the Singapore dollar is likely to be worth S$1.37 per US dollar in 12 months’ time (April 2020).


 

Reviews – Money Transfer & Currency Exchange in Malaysia

OFX Global Currency Account – BER Review

OFX Global Currency Account – Independent BER Review OFX Global Currency Account: A Summary OFX has a 30-year history and is one of the largest foreign exchange specialists in the world. It offers a “Global Currency Account” (GCA) that allows businesses to hold, send and receive funds in 6 major currencies (GBP, EUR, USD, AUD, […]

Last update: 16 May, 2019

TransferWise Borderless Account – BER Review

TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.

Last update: 16 May, 2019

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

WorldFirst add Hong Kong Dollar and Chinese Yuan to World Accounts

World Accounts now let your business collect funds and pay local suppliers in HKD or make payments to offshore CNY (CNH) accounts in China.

Last update: 16 May, 2019

 

Australian dollar Market Outlook

AUD/MYR – 3 month chart

The mid-April to mid-May period was a shocker for the Australian dollar. It suffered across-the-board losses, including losses worth 5 percent against the US dollar. An exchange rate of US68.6¢ on Friday May-17 was the Aussie’s lowest weekly closing rate since early 2016.

Most recently, election jitters, a stuttering domestic economy and elevated trade tensions have driven the Aussie lower.

Following data on May-16 that showed a jump in the unemployment rate, which the RBA has said it is “paying close attention to,” implied probabilities for an interest rate cut in June rose to 60 percent, and that doesn’t bode well for near-term currency valuations.


 

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