1. Exchange Rates
  2. Euro (EUR)
  3. Malaysian ringgit (MYR)

Convert EUR to MYR at Best Exchange Rates

1 Euro equals
Malaysian ringgit 1EUR=MYR

There are three simple steps you need to take in order to get a good EUR-MYR exchange rate:

  1. Know the latest EUR to MYR market mid-rate shown above - this is your starting point!
  2. Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees. We make that easy to do with our calculators for Foreign Transfers and Travel Money transactions.
  3. Review up-to-date Currency News and Forecasts for both the Euro and Malaysian ringgit currencies, if available.

1. Market EUR/MYR mid-rate

Right now the EUR/MYR market rate is and represents how many Malaysian ringgit you can get for one Euro.

Calculate equivalent currency amounts with this EUR to MYR currency converter then select the transaction type to compare the best exchange rates available.

Currency Converter EUR to MYR

1 EUR equals

See how much you can save on exchange rates for :

Foreign Transfers    Travel Money

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1 Week EUR/MYR Chart
EUR-MYR 1 Week chart

Euro to Malaysian ringgit (EUR-MYR) - 10 Year History

DateExchange RatePeriodChange
22 Jun 20184.6631Latest
15 Jun 20184.64451 Week+0.4%
23 May 20184.65861 Month+0.1%
24 Dec 20174.83446 Months-3.54%
22 Jun 20174.77991 Year-2.44%
22 Jun 20164.57032 Years+2.03%
23 Jun 20134.21305 Years+10.68%
24 Jun 20085.070710 Years-8.04%

The EUR/MYR mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the EUR / MYR was traded (bought or sold) in the international markets.

The closer your final exchange rate is to the market / midrate the better deal you are getting.

2. Transaction Costs - Margins and Fees for EUR/MYR Foreign Exchange

The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.

EUR to MYR Foreign Transfer - Costs Compared

You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from EUR to MYR.

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Compare Foreign Transfers

Sending EUR 5,000 to MYR

OFX logo OFX
RM22,738 MYR (2.6%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: RM22,738 MYR
Exchange Rate: 4.5476
(Inverse 1MYR=EUR 0.2199)
Fees: EUR 0
Total Cost : 2.6% (from mid-rate: 4.6689)
This is the amount of money that could be received by your transfer at rate EUR/MYR=4.5476 and inclusive of the fee of EUR 0.
Rate timestamp : Sat Jun 23 2018 03:17:45 GMT+0000 (UTC)
Bank Rates - Average
RM21,866 MYR (6.33%)
This is the average EUR to MYR International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

Price Details
Receive: RM21,866 MYR
Exchange Rate: 4.3838
(Inverse 1MYR=EUR 0.2281)
Fees: EUR 12
Total Cost : 6.33% (from mid-rate: 4.6689)
Receive MYR RM872 less than with  OFX logo OFX
This is the amount of money that could be received by your transfer at rate EUR/MYR=4.3838 and inclusive of the fee of EUR 12.

Travel Money EUR to MYR - Costs Compared

The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.

Travel Money Exchange Rates Compared

Buying MYR Cash with EUR 2,000

Bank Rates - Average
RM8411.04 MYR (9.92%)
This is the average EUR to MYR Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

Price Details
Receive: RM8411.04 MYR
Exchange Rate: 4.2480
(Inverse 1MYR=EUR 0.2354)
Fees: EUR 20 (1%)
Total Cost : 9.92% (from mid-rate: 4.6689)
Amount of money that could be received by your currency exchange at rate EUR/MYR=4.248 and inclusive of the fee of EUR 20 (1%).

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 comparison calculators make shopping around easy and help you calculate how much you can save.

Why can't I just get the same EUR/MYR market rate I see on Google or in the Media?

When you look up the current Euro to Malaysian ringgit exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.

EUR to MYR mid-rate on google

EUR to MYR mid-rate on google search

Getting a great EUR to MYR mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use our EUR to MYR currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates. Then choose your transaction type for specific Euro cross rates and reviews of leading foreign exchange providers versus the Banks.

3. Currency News, Research and Forecasts for Euro 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 is always determined quoted in comparison to another currency.

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

Euro (EUR) - Market news and forecasts

On June 14th, the euro had one of its worst days in recent memory after the ECB signalled it would leave interest rates unchanged at 0.0 percent until the latter stages of 2019. A day later (the day of this report), the euro was trading in the mid-$1.15s versus the dollar and looked set to lose more of its value (earlier in the year it had traded in the mid-$1.25s), and had fallen towards the bottom end of its long-term trading range against the pound, at £0.873.

The ECB did at least announce it would phase out quantitative easing in Europe, which kept the euro’s losses within reasonable limits. QE will be terminated at the end of the year.

Goldman Sachs described the June ECB meeting as a “material negative for the euro.”

Prior to the ECB decision, Danske Bank had estimated a median price for EUR/USD in H2 2018 of 1.18; the bank saw a return to the 1.20s as unlikely in the near term (that's almost certain after the ECB meeting). Danske had predicted a “foot-dragging” ECB that would be “reactive rather than active.”

Malaysian ringgit (MYR) - Market news and forecasts

The ringgit was hammered in the second week of May after a shock election result which saw the incumbent Barisan Nasional coalition lose power in Malaysia for the first time in sixty years.

Investors generally despise political drama, especially in emerging market economies, and consequently there were election-induced earthquakes in Malaysian financial markets. Investors were concerned that the new government would roll back financial reforms that have boosted economic growth.

The ringgit, which had averaged 3.9 per US dollar in 2018 and which rarely moves more than 0.5 percent in a day, fell after the election by as much as 5 percent to 4.16 – its weakest level in six months – before recovering to 4.05 at the time of this report.

Malaysia’s new prime minister, Mahathir Mohamad, said following his victory that he would try to make the ringgit as stable as possible.

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