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AUD/MYR - Convert Compare Save

Australian Dollar to Malaysian Ringgit exchange rates aren't all the same.

The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

This resource page for the Australian Dollar to Malaysian Ringgit exchange rate, has news, forecasts and AUD to MYR comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

AUD/MYR Exchange Rates - How to Compare & Save

Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for AUD/MYR International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive MYR(RM)Exchange RateFee AUDTotal CostDeal Links
OFX (OzForex) logo
28,076 MYR
Best Overall
2.80760^2.96%
BankSA International Money Transfers
BankSA logo
27,864 MYR
212 MYR
2.79220.013.69%
Banks - Average Rate
National Australia Bank (nab) logo BankSA logo
27,329 MYR
747 MYR
2.7386155.54%
National Australia Bank (nab) logo
26,794 MYR
1,282 MYR
2.6853227.39%
OFX (OzForex): Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:2.8076 (2.96% from mid-rate)
MYR amount:28,076 MYR
Total Cost:2.96%
Time:
Rate Fetched: Fri Jul 19 2019 22:01:33 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
BankSA: Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:2.7920 (3.5% from mid-rate)
MYR amount:27,864 MYR
Total Cost:3.69%
Difference:
212 MYR less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:2.7837 (3.79% from mid-rate)
MYR amount:27,329 MYR
Total Cost:5.54%
Difference:
747 MYR less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
National Australia Bank (nab): Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:22
Exchange Rate:2.6853 (7.19% from mid-rate)
MYR amount:26,794 MYR
Total Cost:7.39%
Difference:
1,282 MYR less than using OFX (OzForex)
Time:
Rate Fetched: website - 0:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 
Snapshot 07/19/2019 - See full table

Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.

Travel Money ProvidersAmount MYR(RM)Exchange RateFee AUDTotal CostDeal Links
Westpac logo
2,763.68 MYR
Compare
2.7916A$104.48%
ANZ Bank logo
2,751.41 MYR
12 MYR
2.7792A$104.9%
BankSA Foreign Currency
BankSA logo
2,750.12 MYR
14 MYR
2.792A$154.95%
Travel Money Oz logo
2,731.1 MYR
33 MYR
2.7311$0 BPay, Credit Card 1%5.61%
Banks - Average Rate
Westpac logo ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo National Australia Bank (nab) logo BankSA logo
2,723 MYR
41 MYR
2.7554105.88%
National Australia Bank (nab) logo
2,711.61 MYR
52 MYR
2.739106.28%
Commonwealth Bank (CBA) logo
2,689.63 MYR
74 MYR
2.7168A$107.04%
Travelex Online AU logo
2,680.4 MYR
83 MYR
2.6804$0 BPay, Card 0.72%-1%7.36%
St George Bank logo
2,673.39 MYR
90 MYR
2.7141A$157.6%
Westpac: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:A$10 AUD (1%)
Exchange Rate:2.7916 (3.52% from mid-rate)
MYR amount:2,763.68 MYR
Total Cost:4.48%
Time:
Rate Fetched: website - Mon Apr 15 2019 01:04:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
ANZ Bank: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:A$10 AUD (1%)
Exchange Rate:2.7792 (3.94% from mid-rate)
MYR amount:2,751.41 MYR
Total Cost:4.9%
Time:
Rate Fetched: website - Fri Jul 19 2019 22:03:03 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
BankSA: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:A$15 AUD (Minimum fee)
Exchange Rate:2.7920 (3.5% from mid-rate)
MYR amount:2,750.12 MYR
Total Cost:4.95%
Time:
Rate Fetched: website - 0:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travel Money Oz: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:$0 BPay, Credit Card 1%
Exchange Rate:2.7311 (5.61% from mid-rate)
MYR amount:2,731.1 MYR
Total Cost:5.61%
Time:
Rate Fetched: Fri Jul 19 2019 22:00:07 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup
Delivery/Collect:3-5 days
Rating:
 
: 4.2/5.0
Reviews:
 

Banks - Average Rate

Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:2.7502 (4.95% from mid-rate)
MYR amount:2,723 MYR
Total Cost:5.88%
Currency Services:Branch
Delivery/Collect:-
National Australia Bank (nab): Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:10
Exchange Rate:2.7390 (5.33% from mid-rate)
MYR amount:2,711.61 MYR
Total Cost:6.28%
Time:
Rate Fetched: website - 0:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2.1/5.0
Reviews:
Commonwealth Bank (CBA): Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:A$10 AUD (1%)
Exchange Rate:2.7168 (6.1% from mid-rate)
MYR amount:2,689.63 MYR
Total Cost:7.04%
Time:
Rate Fetched: website - Fri Jul 19 2019 22:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
Travelex Online AU: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:2.6804 (7.36% from mid-rate)
MYR amount:2,680.4 MYR
Total Cost:7.36%
Time:
Rate Fetched: Fri Jul 19 2019 22:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
St George Bank: Travel Money AUD→MYR
AUD amount:$1,000 AUD
Fee:A$15 AUD (Minimum fee)
Exchange Rate:2.7141 (6.19% from mid-rate)
MYR amount:2,673.39 MYR
Total Cost:7.6%
Time:
Rate Fetched: website - 0:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 07/19/2019 - See full table

AUD to MYR interbank exchange rate = 2.8933

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on AUD/MYR exchange rates

Foreign Transfers Travel Money

Foreign Transfers Travel Money

   

AUD and MYR in the Markets

When determining the best time to make a foreign exchange transaction, in this case the AUD vs MYR, you should pay attention to the recent market trends for both currencies.

 

Australian Dollar (AUD)

In late June and early July, the Australian dollar recovered from multi-month lows against a number of important currencies; however, these recoveries were minor relative to losses over the past 18 months. Against the US dollar, at a rate of 70¢ (July-2), the Aussie was 14 percent lower than its best rate from 2018.

Investors have sold AUD in recent months as they’ve bet on aggressive interest-rate cuts by the Reserve Bank of Australia. These bets paid off: the RBA cut its cash rate in both June and July to a record low of 1 percent.

Lower borrowing costs are necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end.

AUD will continue to track changes in interest-rate expectations. Economists expect at least one further cut this year and many expect two by early 2020. After July's cut, the RBA hinted it would leave rates unchanged for several months.

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.

Read more in the article AUD Forecasts.

 

Malaysian Ringgit (MYR)

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.

Read more in the article MYR Forecasts.

Why can't I just get the AUD/MYR market rate I see online or in the media?

The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AUD / MYR was traded (bought or sold) in the international markets.

All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.

Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

We help you Compare & Save Money on Exchange Rates.

 

View all AUD Exchange Rates