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.
This is the current BYR-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 BYR-MYR exchange rate.
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 BYR vs MYR, you should pay attention to both Belarusian Ruble and Malaysian Ringgit news and forecasts.
No recent Belarusian Ruble market updates.
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.