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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
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Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee HKDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
25,505 MYR0.51010 for BER users (normally $60)3.19%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
DBS Bank logo
25,240 MYR0.5053504.19%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
24,968 MYR0.4998555.23%Online, Branch, Bank Transfers2-3 days
HSBC logo
24,890 MYR0.4986$805.52%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
24,774 MYR0.4956125.96%Online, Branch, Bank Transfers2-3 days
 
WorldRemit logo
Your amount above the WorldRemit HKD2000 maximum
 
OFX: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:0 for BER users (normally $60)
Exchange Rate:0.5101 (3.19% from mid-rate)
MYR amount:25,505 MYR
Total Cost:3.19%
Time:
Rate Fetched: Tue Apr 23 2019 00:17:30 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:0.5053 (4.1% from mid-rate)
MYR amount:25,240 MYR
Total Cost:4.19%
Difference:
265 MYR less than using OFX
Time:1:07 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:0.5012 (4.88% from mid-rate)
MYR amount:24,968 MYR
Total Cost:5.23%
Difference:
537 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:0.4986 (5.37% from mid-rate)
MYR amount:24,890 MYR
Total Cost:5.52%
Difference:
615 MYR less than using OFX
Time:1:07 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:0.4956 (5.94% from mid-rate)
MYR amount:24,774 MYR
Total Cost:5.96%
Difference:
731 MYR less than using OFX
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
WorldRemit: Foreign Transfer HKD→MYR
HKD amount:$50,000 HKD
Fee:
Transfer Speed:1 day
Services:Bank Transfers & Cash Pickup - Online only
Rating:
 
: 4.5/5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the HKD-MYR mid-market exchange rate over the last week. 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.

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

On balance, the Hong Kong dollar strengthened steadily in the February-April period. By recent standards, it was particularly strong against the euro at rates near HK$8.825. It was near the weaker boundary of its US dollar trading range, at HK$7.844. Against a basket of currencies, the US dollar was up 1.5 percent on the year by April-22, implying the same year-to-date gain for HKD.

HKD’s strength comes in spite of this year’s dovish turn by the US Federal Reserve, whose actions Hong Kong’s central bank must follow. The Fed has ditched two interest rate hikes from its 2019 projections, but fortunately for holders of HKD, the rest of the world has problems too and other important central banks have also turned dovish, removing much of the incentive for selling HKD.

Based on USD research, a Bloomberg analyst warned in April of potential for a large upcoming move in HKD, up or down. Over the past quarter-century, three deep troughs in a prominent volatility index were followed by USD moves over 6-month periods worth 10-15 percent. The index in question fell in the second half of April to a 5-year low.

Malaysian Ringgit (MYR) - Market news and forecasts

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.