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Best Exchange Rates Malaysia

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

 

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MYR Market Outlook

MYR/USD – 3 month chart

26-February-2019: 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.

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. There are positive factors though.

"With good GDP data and strong economic fundamentals coupled with positive external factors, I believe the ringgit can go higher to RM4.02 [per USD]," a dealer said in February.

The team at TradingEconomics.com believes the ringgit weakens to RM4.14 by year-end.


 

Money Saving Guides

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.

Updated: 26 Feb, 2019

What is the International Mid-Market Rate?

The mid-market rate is considered the fairest exchange rate available.

Updated: 23 Jul, 2018

A Guide to Buying Overseas Property

Tips on Buying your dream property abroad.

Updated: 8 Jul, 2018

Top Five Tips for Buying Property Overseas

We take a look at five tips that can help you avoid common mistakes and save money on overseas property purchases.

Updated: 6 Jul, 2018

 

Foreign Exchange News

Petro-Currencies Struggle Amid Oil Market Plunge

Undoubtedly, the speed at which the oil market has reversed has shocked foreign exchange traders as much as it has those in the commodities space. Currencies from economies that depend on oil exports can only do so much amid what is now an energy market rout. With Tuesday bringing a twelfth consecutive day of losses for oil, the Canadian dollar, Norwegian krone, Malaysian ringgit and Mexican peso all fell to multi-month lows.

8 Dec, 2018 by Joel Wright

US Dollar on the March; Markets Yet to Price in Full Extent of Fed Hikes, Says SEB

The US dollar made inroads against most of the world’s currencies on Thursday as trade fears forced investors into safer assets.

2 Aug, 2018 by Joel Wright

Ruble and Rand Best Performers During Busy Week for Emerging Market FX

It was a busy week for financial markets; one in which central banks disappointed, entire countries were in crisis, new leaders were elected, commodities thrived and Trump reimposed sanctions on Iran. With that said, emerging market currencies were erratic last week, and generally lost value, none more so than the Argentine peso which fell on […]

2 Jun, 2018 by Joel Wright

 

Singapore dollar Market Outlook

SGD/MYR – 3 month chart

22-February-2019: 2018 was a steady year for the Singapore dollar: on balance it gained value, but it did lose out slightly against the world’s reserve currency, the US dollar.

2019 has begun reasonably well. Entering the final week of February, SGD was a percent higher year-to-date versus USD, but at US$0.74 was in line with its 2018 average rate. SGD was 2 percent higher year-to-date against EUR at a 9-month closing high of €0.653 — 4 percent higher than 2018’s average.

Against AUD, in February, SGD was unchanged year-to-date but was 4.5 percent higher than last year's average, at A$1.038. During a flash crash on January 3rd, SGD/AUD briefly traded at a 10-year high of A$1.088.

With Singapore being a small, trade-dependent country, prime risks to SGD for 2019 include the re-emergence of trade tensions between China and the US, and/or a serious global economic slowdown.

Traders, though, were happy to bet against the above risks and on SGD appreciation at the time of this report: a Reuters survey in February showed “long” SGD positions among bank traders rising to the highest level in 10 months.


 

Reviews – Money Transfer & Currency Exchange in Malaysia

TransferWise – BER 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.

Updated: 20 Mar, 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 the low fees that TransferWise is renowned for. Users can also receive major-currency payments free of charge.

Updated: 20 Mar, 2019

WorldRemit – BER Review

WorldRemit – Reviewed by Best Exchange Rates. Send Money Online Anytime, Anywhere. 24/7 online service – no agents to visit. Bank Transfers – Cash Pickup – Mobile Money – Airtime top-up.

Updated: 12 Mar, 2019

 

Australian dollar Market Outlook

AUD/MYR – 3 month chart

Following a flash crash in early January, which saw the Australian dollar briefly trade at a 10-year low of $0.674, the Aussie recovered to $0.73, but then, as it had done before the flash crash, it commenced with a slow and steady decline, and it was back at $0.705 in mid-March and was predicted to fall further.

In February, HSBC predicted a year-end AUD/USD rate of $0.66. In March, Westpac and JP Morgan were slightly more upbeat and argued for $0.68.

Fuelling lower exchange rate forecasts is the Australian economic story, for which major themes include a housing market slump, Chinese growth and the US-China trade spat. The RBA slashed growth forecasts in February and markets are now pricing in 1-2 interest rate cuts this year.

Another Aussie exchange rate worth mentioning is AUD/GBP, which sank in mid-March to its lowest level in nearly 3 years, at just £0.53. The Australian dollar has been unable to compete with the pound of late, since the latter benefits every time the British government fails to make a decision on how to deliver Brexit (every time Brexit appears less likely or to be delayed).


 

FX Fintech News

WorldFirst Owners Target European Expansion

Ant Financial, the Chinese fintech giant that recently acquired WorldFirst, has set its sights on Europe, where it plans to take its share of both cross-border and point-of-sale payments.

Updated: 19 Mar, 2019

CBOE Ditches Bitcoin Futures Amid Reduced Interest

Amid declining interest, the Chicago Board Options Exchange, or CBOE, has announced it will no longer offer bitcoin futures contracts once current contracts expire in June.

Updated: 19 Mar, 2019

Revolut Introduces Auto Currency Exchange

Digital bank Revolut announced this week the introduction of a significant new feature: auto currency exchange based on targeted exchange rates.

Updated: 8 Mar, 2019

Messaging Apps to Take Slice of Remittance Market Using Their Own Cryptocurrencies

Users of popular messaging apps, including WhatsApp and Line, might soon be able to make cross-border payments effortlessly. In a move that will further disrupt the payments industry, the creators of such apps, including Facebook, are working hard to develop their own digital currencies that can be transferred to anyone in a user’s contact list.

Updated: 19 Mar, 2019

 

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