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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.

 
 

We compare and review only trusted regulated FX brands

  • Transferwise
  • OFX
  • World First
  • TorFX
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Most Viewed MYR Alerts

1 Active Alert đź””

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Exchange rates are volatile and can move considerably on a daily basis. Setting up FX Alerts will help you decide the best time to make a foreign exchange transaction. These daily alerts can notify you either when an interbank exchange rate makes a significant UP or DOWN move or when a rate reaches a HIGH or LOW for periods from 14 to 90 days.

FROM / TO 90 DAY TRENDLATEST RATERECENT ALERTS

MYR / USD
0.2414
90-DAY HIGH (5d)

MYR / SGD
0.3289
30-DAY HIGH (2d)

MYR / AUD
0.3529
14-DAY HIGH đź””

Login to Create your own Alerts  View All MYR Rates

Compare the actual market exchange rates

  

MYR to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD(U$)Exchange RateFee MYRTotal CostDeal Links
Instarem logo
U$2,4000.2400.62%
OFX logo
U$2,3860.23860 for BER users (normally $15)1.2%
Maybank International Money Transfers
Maybank logo
U$2,306.70.233RM1004.48%
OCBC Bank International Money Transfers
OCBC Bank logo
U$2,306.70.233RM1004.48%
United Overseas Bank International Money Transfers
United Overseas Bank logo
U$2,306.70.233RM1004.48%
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
U$2,2910.2307155.12%
HSBC logo
U$2,278.580.2282RM155.65%
Citibank International Money Transfers
Citibank logo
U$2,258.290.2261126.49%
 

Instarem logo

Instarem: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:0
Exchange Rate:0.2400 (0.62% from mid-rate)
To Amount (USD) U$2,400
Total Cost:0.62%
Time:1:07 Local
Transfer Speed:
Services:
Rating:
 
: 3.9/5.0
Reviews:
 

OFX logo

OFX: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:0 for BER users (normally $15)
Exchange Rate:0.2386 (1.2% from mid-rate)
To Amount (USD) U$2,386
Total Cost:1.2%
Difference:
U$14 USD less than using Instarem
Time:
Rate Fetched: 1:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Maybank logo

Maybank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2330 (3.52% from mid-rate)
To Amount (USD) U$2,306.7
Total Cost:4.48%
Difference:
U$93 USD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

OCBC Bank logo

OCBC Bank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2330 (3.52% from mid-rate)
To Amount (USD) U$2,306.7
Total Cost:4.48%
Difference:
U$93 USD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

United Overseas Bank logo

United Overseas Bank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2330 (3.52% from mid-rate)
To Amount (USD) U$2,306.7
Total Cost:4.48%
Difference:
U$93 USD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:15
Exchange Rate:0.2307 (4.47% from mid-rate)
To Amount (USD) U$2,291
Total Cost:5.12%
Difference:
U$109 USD less than using Instarem
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logo

HSBC: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM15 MYR (.15%)
Exchange Rate:0.2282 (5.51% from mid-rate)
To Amount (USD) U$2,278.58
Total Cost:5.65%
Difference:
U$121 USD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logo

Citibank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:12
Exchange Rate:0.2261 (6.38% from mid-rate)
To Amount (USD) U$2,258.29
Total Cost:6.49%
Difference:
U$142 USD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 11/12/2019 - See full table
 

Welcome to BER Malaysia. Here we list useful guides and FX provider reviews plus market updates keep our customers aware of the latest Malaysia ringgit exchange rates, charts and rate changes in the major MYR cross currency pairs.

#Guides
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MYR Market Outlook

MYR/USD – 3 month chart

Malaysia was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it added to negative sentiment, which then spurred a rise in USD/MYR to a 6-month high (MYR low) of RM4.2.

Among factors contributing to the ringgit’s weakness over the past year has been political uncertainty relating to Malaysia’s ruling Pakatan Harapan coalition, late-2018’s crash in oil prices, global trade tensions and higher US interest rates.


 

Money Saving Guides

Facebook’s Libra Is Not the Game Changer That’s Being Promised

Enthusiasts would have us believe that Facebook’s own digital currency, Libra, will instantly revolutionize the remittance industry upon its release in 2020 — except it won’t. A harsher reality awaits, with conversion costs, capital gains taxes and a lack of Libra-priced goods all likely to limit its appeal.

Last update: 6 Jul, 2019

TransferWise Gets Malaysian Remittance Licence

No longer will Malaysians sending money overseas be subjected to grossly inflated exchange rates and unnecessary bank charges following news that TransferWise has been granted a remittance licence by Bank Negara.

Last update: 19 Jun, 2019

Best Multi-Currency Accounts 2019: WorldFirst vs. TransferWise vs. OFX

We compare the features, exchange rates and security of the three best multi-currency accounts available today — the WorldFirst World Account, the TransferWise Borderless Account and the OFX Global Currency Account.

Last update: 12 Jun, 2019

A Guide to Buying Overseas Property

Tips on Buying your dream property abroad.

Last update: 3 May, 2019

 

Foreign Exchange News

TransferWise Gets Malaysian Remittance Licence

No longer will Malaysians sending money overseas be subjected to grossly inflated exchange rates and unnecessary bank charges following news that TransferWise has been granted a remittance licence by Bank Negara.

19 Jun, 2019 by Joel Wright

Booming Commodities Can’t Save Australian Dollar

The Australian dollar is at or near multi-month lows against a number of major currencies in spite of a rampant iron ore market — once a great influence on AUD.

15 Jun, 2019 by Joel Wright

 

Singapore dollar Market Outlook

SGD/MYR – 3 month chart

Singapore was added to a US watchlist of suspected currency manipulators in May. Though that means little right now in terms of economic implications, it created some negative sentiment that spurred a rise in USD/SGD to a 6-month high (SGD low) of S$1.384.

Overall, it’s been a mixed 2019 for the Singapore dollar, with small gains (<2 percent) against the euro and Australian dollar, but small losses against the US dollar and pound.

In May, SGD was pressured by data showing core inflation at a 1-year low, by an escalation in US-China trade tensions, and after Singapore’s Ministry of Trade and Industry downgraded 2019 growth forecasts. At 1.2 percent, quarterly growth in the Lion City has slowed to its lowest level in a decade.

All said, the Monetary Authority of Singapore will, at best, keep monetary policy unchanged when it next meets in October (there's a chance it could turn dovish).


 

Reviews – Money Transfer & Currency Exchange in Malaysia

OFX 2019 Review – Foreign transfers with OFX compared

OFX is one of the world’s largest and best providers of international money transfers. This highly regulated firm offers a complete foreign exchange solution complete with 24/7 phone support.

Last update: 27 Aug, 2019

TransferWise Money Transfers – Review

TransferWise has been making waves in the global payments market since it came on the scene back in 2011 and is undoubtedly one of the best services for sending money across borders.

Last update: 26 Aug, 2019

WorldRemit – BER Review

With WorldRemit, send money online 24/7 to 140 destinations at highly competitive exchange rates. Send to bank accounts and mobile money wallets, top up a loved one’s mobile phone or send for cash pick-up.

Last update: 7 Jul, 2019

 

Australian dollar Market Outlook

AUD/MYR – 3 month chart

At the end of October the AUD surged to a three month high against the US dollar following the third rate cut in a year by the US Federal Reserve. The gains were mainly due to the fall in the US dollar after the market sensed that US rates are more likely to rise now than fall further.

The RBA also added to the positive sentiment with an optimistic assessment of easing risks from the US-China trade war and Brexit. Accordingly markets are pulling back from bets that the cash rate will drop to 0.5 per cent and the possible start of quantitative easing.

Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.

Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.


 

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