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HKD/MYR - Convert Compare Save

Hong Kong 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.

 

This resource page for the Hong Kong Dollar to Malaysian Ringgit exchange rate, has news, forecasts and HKD to MYR comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

HKD/MYR Exchange Rates - How to Compare & Save

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 HKD/MYR International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
Foreign Transfer ProvidersReceive MYR(RM)Exchange RateFee HKDTotal CostDeal Links
OFX logo
25,675 MYR0.51350 for BER users (normally $15)3.89%
DBS Bank logo
25,405 MYR0.5086504.9%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
25,135 MYR0.5032555.92%
HSBC logo
25,060 MYR0.502$806.2%
Citibank International Money Transfers
Citibank logo
24,939 MYR0.4989126.65%
 
OFX: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:0 for BER users (normally $15)
Exchange Rate:0.5135 (3.89% from mid-rate)
MYR amount:25,675 MYR
Total Cost:3.89%
Time:
Rate Fetched: Fri Aug 23 2019 00:17:32 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

DBS Bank logoDBS Bank

DBS Bank: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:50
Exchange Rate:0.5086 (4.81% from mid-rate)
MYR amount:25,405 MYR
Total Cost:4.9%
Difference:
270 MYR less than using OFX
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:55
Exchange Rate:0.5045 (5.58% from mid-rate)
MYR amount:25,135 MYR
Total Cost:5.92%
Difference:
540 MYR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:$80 HKD (Minimum fee)
Exchange Rate:0.5020 (6.05% from mid-rate)
MYR amount:25,060 MYR
Total Cost:6.2%
Difference:
615 MYR less than using OFX
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:12
Exchange Rate:0.4989 (6.63% from mid-rate)
MYR amount:24,939 MYR
Total Cost:6.65%
Difference:
736 MYR less than using OFX
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 08/23/2019 - See full table

HKD to MYR interbank exchange rate = 0.534

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on HKD/MYR exchange rates

Foreign Transfers

Foreign Transfers Travel Money

   

HKD and MYR in the Markets

When determining the best time to make a foreign exchange transaction, in this case the HKD vs MYR, you should pay attention to the recent market trends for both currencies.

 

Hong Kong Dollar (HKD)

The Hong Kong dollar has gained value in 2019 despite a serious escalation in US-China trade tensions, mainly because the US dollar, to which HKD is pegged, is attracting safe-haven inflows. By May-17, against a basket of important currencies, HKD was worth 2 percent more year-to-date, and was only 0.5 percent away from making a 2-year high.

HKD was doing particularly well against the Australian dollar. It was, at the time of writing, valued 18 percent higher than 2018 lows against AUD and needed only a further 2.3 percent to reach a 10-year high. Though HKD was meeting significant resistance in mid-May at the 5.4 per AUD level, a break of this could spark significant appreciation.

Read more in the article HKD 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 HKD/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 HKD / 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 HKD Exchange Rates