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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.

 
 

Compare Best Exchange Rates for:

   
$AUD
RMMYR

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Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee AUDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
TorFX logo
28,161 MYR
Best Overall
2.816102.54%Bank Transfers - Online & Phone1-2 days
 
OFX (OzForex) logo
28,190 MYR
29 MYR
2.8190^2.44%Bank Transfers - Online & Phone1-2 days
BankSA International Money Transfers
BankSA logo
27,827 MYR
334 MYR
2.788320.013.69%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
National Australia Bank (nab) logo BankSA logo
27,365 MYR
796 MYR
2.7423155.29%Online, Branch, Bank Transfers2-3 days
 
National Australia Bank (nab) logo
26,903 MYR
1,258 MYR
2.6962226.89%Online, Branch, Bank Transfers2-3 days
TorFX: Foreign Transfer AUD→MYR
AUD amount:$10,000 AUD
Fee:0
Exchange Rate:2.8161 (2.54% from mid-rate)
MYR amount:28,161 MYR
Total Cost:2.54%
Time:0:06 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:2.8190 (2.44% from mid-rate)
MYR amount:28,190 MYR
Total Cost:2.44%
Difference:
29 MYR more than using TorFX
Time:
Rate Fetched: Wed Mar 20 2019 00:01:31 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:2.7883 (3.5% from mid-rate)
MYR amount:27,827 MYR
Total Cost:3.69%
Difference:
334 MYR less than using TorFX
Time:
Rate Fetched: website - 0:06 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:2.7950 (3.27% from mid-rate)
MYR amount:27,365 MYR
Total Cost:5.29%
Difference:
796 MYR 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:2.6962 (6.69% from mid-rate)
MYR amount:26,903 MYR
Total Cost:6.89%
Difference:
1,258 MYR less than using TorFX
Time:
Rate Fetched: website - 0:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
 
: 2.1/5.0
Reviews:
 

1 AUD = 2.8813 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

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).

Malaysian Ringgit (MYR) - Market news and forecasts

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.

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