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Best Exchange Rates

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Compare AUD to MYR foreign transfers

Use our comparison table to find the best exchange rates for Malaysian Ringgit foreign transfers versus the Banks.

When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.

 
 

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$AUD
RMMYR

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Foreign Transfers - Exchange Rate Comparison

Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee AUDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
TorFX logo
28,708 MYR
Value & Rating
2.870802.61%Bank Transfers - Online & Phone1-2 days
 
OFX (OzForex) logo
28,723 MYR
RM15 more
2.87230^2.56%Bank Transfers - Online & Phone1-2 days
BankSA International Money Transfers
BankSA logo
28,389 MYR
RM319 less
2.844620.013.69%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
National Australia Bank (nab) logo BankSA logo
27,901 MYR
RM807 less
2.7959155.35%Online, Branch, Bank Transfers2-3 days
 
National Australia Bank (nab) logo
27,412 MYR
RM1,296 less
2.7472227.01%Online, Branch, Bank Transfers2-3 days
TorFX: Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:2.8708 (2.61% from mid-rate)
MYR amount:28,708 MYR
Total Cost:2.61%
Time:6:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.7/5.0
Reviews:
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:2.8723 (2.56% from mid-rate)
MYR amount:28,723 MYR
Total Cost:2.56%
Difference:
RM15 more than using TorFX
Time:
Rate Fetched: Sun Jan 20 2019 06:01:32 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
BankSA: Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:20.01
Exchange Rate:2.8446 (3.5% from mid-rate)
MYR amount:28,389 MYR
Total Cost:3.69%
Difference:
RM319 less than using TorFX
Time:
Rate Fetched: website - 6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
National Australia Bank (nab) logo BankSA logo

Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:15
Exchange Rate:2.8478 (3.39% from mid-rate)
MYR amount:27,901 MYR
Total Cost:5.35%
Difference:
RM807 less than using TorFX
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:2.7472 (6.81% from mid-rate)
MYR amount:27,412 MYR
Total Cost:7.01%
Difference:
RM1,296 less than using TorFX
Time:
Rate Fetched: website - 6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes

1 AUD = 2.9478 MYR

This is the current AUD-MYR mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market AUD-MYR exchange rate.

3 Month Chart
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Currency news and forecasts for Australian Dollar and Malaysian Ringgit

Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency must always be quoted in comparison to a second currency.

So it follows that if you are determining the best time to transact, in this case the AUD vs MYR, you should pay attention to both Australian Dollar and Malaysian Ringgit news and forecasts.

Australian Dollar (AUD) - Market news and forecasts

17-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.

By the time of this report, AUD/USD was back at 72 cents and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.

Several months ago, most analysts agreed that the Aussie was heading higher in 2019, but things have changed. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020; there is, in fact, now a 25 percent chance of an RBA cut, per derivatives pricing. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.

One senior researcher at BNP Paribas said in January that the Australian dollar would “get absolutely crucified and could suffer a 25-30 percent [long-term] fall.”

In opposition to that view, at least relative to the US dollar, was a CIBC analyst, who said that at current levels the Aussie was “very undervalued” and was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. The Aussie could be worth as much as 78 US cents in the second half of 2019, the analyst said.

Malaysian Ringgit (MYR) - Market news and forecasts

Like many other emerging market currencies, the ringgit struggled in 2018.

The ringgit weakened in November to a one-year low of RM4.2 per USD but had recovered slightly by the time of this report into the high RM4.17s.

Against the Singapore dollar — the currency of Malaysia’s largest trading partner — the ringgit weakened in November to 3.06 (also a one-year low at the time), before recovering to 3.043.

Among factors contributing to the ringgit’s weakness in 2018 has been political uncertainty relating to Malaysia's ruling Pakatan Harapan coalition, a 40 percent end-of-year crash in the price of oil, as well as general risk-off sentiment, driven partly by global trade tensions and most evident from a 20 percent fall in US equities prices. Higher US interest rates also make holding Malaysian currency less attractive.

“The ringgit will remain weak due to continued political uncertainty,” Fitch’s head of Asia Country Risk said in December.

For 2019 year-end, the team at TradingEconomics.com is forecasting USD/MYR and SGD/MYR at 4.19 and 3.01.

Currency News and Forecasts - Australian Dollar

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