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MYR to CAD - Rate Guide

Malaysian Ringgit to Canadian Dollar 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/Card transactions as shown below.

 

1 MYR = 0.3192 CAD

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MYR to CAD - Trading Range (90 Day)
ALERT: 30-DAY LOWS 🔔 |
MYR/CAD at 0.32 is trading near the 90-day average 0.3193 with a range 0.3154 to 0.3243. ALERT: MYR/CAD has dropped to 30-DAY LOWS.
16-Feb-2020 16:NY 21:LON 08:SYD+1d

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Quick Conversions from Malaysian Ringgit to Canadian Dollar

MYR

CAD

RM 1
C$ 0.3192
RM 5
C$ 1.5960
RM 10
C$ 3.1920
RM 20
C$ 6.3840
RM 50
C$ 15.96
RM 100
C$ 31.92
RM 250
C$ 79.80
RM 500
C$ 159.60
RM 1,000
C$ 319.20
RM 2,000
C$ 638.40
RM 5,000
C$ 1,596
RM 10,000
C$ 3,192
RM 50,000
C$ 15,960
RM 100,000
C$ 31,920
More amounts

MYR

CAD

RM 3.1324
C$ 1
RM 15.66
C$ 5
RM 31.32
C$ 10
RM 62.65
C$ 20
RM 156.62
C$ 50
RM 313.24
C$ 100
RM 783.10
C$ 250
RM 1,566
C$ 500
RM 3,132
C$ 1,000
RM 6,265
C$ 2,000
RM 15,662
C$ 5,000
RM 31,324
C$ 10,000
RM 156,620
C$ 50,000
RM 313,240
C$ 100,000
More amounts

To calculate specific MYR/CAD amounts use our Convert MYR to CAD quick calculator.


Comparing Foreign Exchange Providers

The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees. These margins and fees vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions.

The Exchange rate you are offered can also 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 MYR/CAD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
  

MYR to CAD International Money Transfers

  

Foreign Transfer ProvidersReceive CAD(C$)Exchange RateFee MYRTotal CostDeal Links
TransferWise logo
3,181.69 C$0.3198RM510.6%
OFX logo
3,163 C$0.31630 for BER users (normally $15)1.19%
Maybank International Money Transfers
Maybank logo
3,058.11 C$0.3089RM1004.46%
OCBC Bank International Money Transfers
OCBC Bank logo
3,058.11 C$0.3089RM1004.46%
United Overseas Bank International Money Transfers
United Overseas Bank logo
3,058.11 C$0.3089RM1004.46%
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
3,037 C$0.3057155.12%
HSBC logo
3,019.46 C$0.3024RM155.67%
Citibank International Money Transfers
Citibank logo
2,992.4 C$0.2996126.52%
 
TransferWise logo
TransferWise: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:RM51 MYR (0.5% + RM1)
Exchange Rate:0.3198 (0.09% from mid-rate)
To Amount (CAD)3,181.69 C$
Total Cost:0.6%
Time:1:08 Local
Transfer Speed:0-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts + Multi-currency debit card
Rating:
 
: 4.6/5.0
Reviews:
 
OFX logo
OFX: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:0 for BER users (normally $15)
Exchange Rate:0.3163 (1.19% from mid-rate)
To Amount (CAD)3,163 C$
Total Cost:1.19%
Difference:
C$19 CAD less than using TransferWise
Time:
Rate Fetched: 1:08 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 
Maybank logo
Maybank: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.3089 (3.5% from mid-rate)
To Amount (CAD)3,058.11 C$
Total Cost:4.46%
Difference:
C$124 CAD less than using TransferWise
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
OCBC Bank logo
OCBC Bank: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.3089 (3.5% from mid-rate)
To Amount (CAD)3,058.11 C$
Total Cost:4.46%
Difference:
C$124 CAD less than using TransferWise
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
United Overseas Bank logo
United Overseas Bank: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.3089 (3.5% from mid-rate)
To Amount (CAD)3,058.11 C$
Total Cost:4.46%
Difference:
C$124 CAD less than using TransferWise
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:15
Exchange Rate:0.3058 (4.47% from mid-rate)
To Amount (CAD)3,037 C$
Total Cost:5.12%
Difference:
C$145 CAD less than using TransferWise
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
HSBC logo
HSBC: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:RM15 MYR (.15%)
Exchange Rate:0.3024 (5.53% from mid-rate)
To Amount (CAD)3,019.46 C$
Total Cost:5.67%
Difference:
C$162 CAD less than using TransferWise
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Citibank logo
Citibank: Foreign Transfer MYR→CAD
From Amount (MYR)RM10,000
Fee:12
Exchange Rate:0.2996 (6.4% from mid-rate)
To Amount (CAD)2,992.4 C$
Total Cost:6.52%
Difference:
C$189 CAD less than using TransferWise
Time:1:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 02/17/2020 - View latest rates

Country Guides (MYR & CAD)

CanadaCanada (CAD)MalaysiaMalaysia (MYR)

MYR and CAD in the Markets

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

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.

 

Canadian Dollar (CAD)

Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The threat of proxy war between the US and Iran in Iraq also pared back some of the gains the Loonie had made coming into the New Year.

The Canadian dollar was range bound during the second half of 2019 oscillating between US75c and US76.5c. Mid-year the loonie stormed ahead in June and July, rising to what turned out to be the 2019 high against the US dollar of US76.7cents and to 8-month highs against the euro, pound, Australian and New Zealand dollars. Against the Aussie, a minimal additional increase would take CAD to a 9-year high.

Supporting the loonie was a 10 percent rise in the oil price (oil is among Canada’s most exported products but is volatile and can’t be relied upon), a large and welcome jump in inflation, and dovishness at major central banks of the world, including the Federal Reserve, ECB and RBA.

The USMCA was signed by the United States, Mexico and Canadian on November 30 at the G20 Summit in Buenos Aires. Any delay to Canadian ratification of the USMCA trade deal would have likely depressed sentiment on Canada’s currency.

Read more in the article CAD Forecasts.


How to get Best MYR to CAD Exchange Rates

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).

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.

When is the best time to exchange MYR to CAD?

Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.

Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.

Setup myBER FX Alerts

It is also a good idea to be aware of the change in the historic MYR/CAD exchange rate over longer periods.

MYR/CAD - Historical Rates

PeriodMYR/CADDate
1 Day0.321510 Feb 2020
7 Day0.323204 Feb 2020
30 Day0.320512 Jan 2020
3 Month0.319113 Nov 2019
1 Year0.326511 Feb 2019
5 Year0.348512 Feb 2015
10 Year0.307013 Feb 2010

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