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Best Exchange Rates

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Compare HKD 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:

   
$HKD
RMMYR

Compare Deals
Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee HKDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
WorldFirst logo
25,130 MYR0.502603.2%Bank Transfers - Online & Phone1-2 days
 
OFX logo
25,100 MYR0.5020 for BER users (normally $60)3.31%Bank Transfers - Online & Phone1-2 days
DBS Bank logo
24,840 MYR0.4973504.31%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
24,572 MYR0.4919555.35%Online, Branch, Bank Transfers2-3 days
HSBC logo
24,496 MYR0.4907$805.64%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
24,379 MYR0.4877126.09%Online, Branch, Bank Transfers2-3 days
WorldFirst: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:
Exchange Rate:0.5026 (3.2% from mid-rate)
MYR amount:25,130 MYR
Total Cost:3.2%
Time:1:06 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
 
OFX: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:0 for BER users (normally $60)
Exchange Rate:0.5020 (3.31% from mid-rate)
MYR amount:25,100 MYR
Total Cost:3.31%
Difference:
RM30 less than using WorldFirst
Time:
Rate Fetched: Mon Feb 18 2019 00:17:26 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
DBS Bank: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:50
Exchange Rate:0.4973 (4.22% from mid-rate)
MYR amount:24,840 MYR
Total Cost:4.31%
Difference:
RM290 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo

Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:55
Exchange Rate:0.4932 (5.01% from mid-rate)
MYR amount:24,572 MYR
Total Cost:5.35%
Difference:
RM558 less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
HSBC: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:$80 HKD (Minimum fee)
Exchange Rate:0.4907 (5.49% from mid-rate)
MYR amount:24,496 MYR
Total Cost:5.64%
Difference:
RM634 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Citibank: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:12
Exchange Rate:0.4877 (6.07% from mid-rate)
MYR amount:24,379 MYR
Total Cost:6.09%
Difference:
RM751 less than using WorldFirst
Time:1:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated as financial payment services. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/18/2019

1 HKD = 0.5195 MYR

This is the current HKD-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 HKD-MYR exchange rate.

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Currency news and forecasts for Hong Kong 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 HKD vs MYR, you should pay attention to both Hong Kong Dollar and Malaysian Ringgit news and forecasts.

Hong Kong Dollar (HKD) - Market news and forecasts

27-January-19: 2018 was a reasonable year for the Hong Kong dollar. Against a basket of major currencies, HKD appreciated by 4 percent, which was much better than a near-10 percent loss in 2017. It was, though, something of a stuttering end to 2018 and HKD has had mixed fortunes in early 2019.

As is well known, HKD follows, to a large extent, developments in US monetary policy. In December, after lifting US interest rates, the Fed lowered its expectations for future hikes due to so-called “cross currents” (China, Brexit, trade wars etc.). Skepticism among analysts over future Fed hikes has for some time been the main reason for HKD pessimism for 2019, but now, there is also the prospect of a US economic slowdown to contend with.

“A slowdown in the US economy is likely to weigh on USD [and therefore HKD] in the second half of this year,” a CIBC researcher said in January.

Of the same opinion was an expert at ING, who argued that USD, and therefore HKD, would soon “embark on a gradual long-term bearish trend.”

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.

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