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AUD to MYR - Rate Guide

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.

 

AUD/MYR update & alerts

1 AUD = 2.7874 MYR

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AUD to MYR - Trading Range (90 Day)
ALERT: 90-DAY LOWS 🔔 |
AUD/MYR at 2.7881 is trading 2% below the 90-day average 2.8441 with a range 2.7881 to 2.8857. ALERT: AUD/MYR has dropped to 90-DAY LOWS.
17-Jan-2020 16:NY 21:LON 08:SYD+1d

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AUD/MYR Exchange Rates and Providers Compared

This guide to the Australian Dollar to Malaysian Ringgit exchange rate with 90-day chart & alerts, historic rates, forecasts and AUD to MYR comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our AUD/MYR Quick Calculator.

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
RM26,969
Best Overall
2.69690^3.25%
TorFX logo
RM26,943
RM26 less
2.694303.34%
XE logo
RM27,712
RM743 more
2.771200.58%
BankSA International Money Transfers
BankSA logo
RM26,844
RM125 less
2.689820.013.7%
Banks - Average Rate
National Australia Bank (nab) logo BankSA logo
RM26,291
RM678 less
2.6346155.68%
National Australia Bank (nab) logo
RM25,738
RM1,231 less
2.5795227.66%
 
OFX (OzForex) logo
OFX (OzForex): Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:0^ - No fees for BestExchangeRates users (normally $15 for transfers over $10K)
Exchange Rate:2.6969 (3.25% from mid-rate)
To Amount (MYR) RM26,969
Total Cost:3.25%
Time:
Rate Fetched: Sat Jan 18 2020 05:01:54 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
TorFX logo
TorFX: Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:0
Exchange Rate:2.6943 (3.34% from mid-rate)
To Amount (MYR) RM26,943
Total Cost:3.34%
Difference:
RM26 MYR less than using OFX (OzForex)
Time:6:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
 
XE logo
XE: Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:0
Exchange Rate:2.7712 (0.58% from mid-rate)
To Amount (MYR) RM27,712
Total Cost:0.58%
Difference:
RM743 MYR more than using OFX (OzForex)
Time:6:01 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 3.5/5.0
Reviews:
 
BankSA logo
BankSA: Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:20.01
Exchange Rate:2.6898 (3.5% from mid-rate)
To Amount (MYR) RM26,844
Total Cost:3.7%
Difference:
RM125 MYR less than using OFX (OzForex)
Time:
Rate Fetched: website - 6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:15
Exchange Rate:2.6740 (4.07% from mid-rate)
To Amount (MYR) RM26,291
Total Cost:5.68%
Difference:
RM678 MYR less than using OFX (OzForex)
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
National Australia Bank (nab) logo
National Australia Bank (nab): Foreign Transfer AUD→MYR
From Amount (AUD)A$10,000
Fee:22
Exchange Rate:2.5795 (7.46% from mid-rate)
To Amount (MYR) RM25,738
Total Cost:7.66%
Difference:
RM1,231 MYR less than using OFX (OzForex)
Time:
Rate Fetched: website - 6:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 
Snapshot 01/18/2020 - 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
BankSA Foreign Currency
BankSA logo
RM2,649.45
Compare
2.6898A$154.95%
ANZ Bank logo
RM2,647.36
RM2.09 less
2.6741A$105.02%
Commonwealth Bank (CBA) logo
RM2,635.88
RM14 less
2.6625A$105.44%
Westpac logo
RM2,626.37
RM23 less
2.6529A$105.78%
St George Bank logo
RM2,619.9
RM30 less
2.6598A$156.01%
 
BankSA logo
BankSA: Travel Money AUD→MYR
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:2.6898 (3.5% from mid-rate)
To Amount (MYR) RM2,649.45
Total Cost:4.95%
Time:
Rate Fetched: website - 6:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
ANZ Bank logo
ANZ Bank: Travel Money AUD→MYR
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:2.6741 (4.06% from mid-rate)
To Amount (MYR) RM2,647.36
Total Cost:5.02%
Time:
Rate Fetched: website - Sat Jan 18 2020 05:03:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
 
Commonwealth Bank (CBA) logo
Commonwealth Bank (CBA): Travel Money AUD→MYR
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:2.6625 (4.48% from mid-rate)
To Amount (MYR) RM2,635.88
Total Cost:5.44%
Time:
Rate Fetched: website - Sat Jan 18 2020 05:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
 
Westpac logo
Westpac: Travel Money AUD→MYR
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:2.6529 (4.83% from mid-rate)
To Amount (MYR) RM2,626.37
Total Cost:5.78%
Time:
Rate Fetched: website - Fri Jan 17 2020 21:30:03 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 2/5.0
Reviews:
 
St George Bank logo
St George Bank: Travel Money AUD→MYR
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:2.6598 (4.58% from mid-rate)
To Amount (MYR) RM2,619.9
Total Cost:6.01%
Time:
Rate Fetched: website - 6:01 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Snapshot 01/18/2020 - See full table

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)

The threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Aussie had made coming into the New Year.

The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.

The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely. In November it had been all downhill traffic for the Aussie dropping back from highs close to 70c at the beginning of the month to around 67c against the USD by month end.

At the end of October the AUD had 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.

For AUD forecasts and predictions read our Australian Dollar Forecasts report.

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