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Compare MYR to SGD foreign transfers

Use our comparison table to find the best exchange rates for Singapore Dollar 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:

   
RMMYR
$SGD

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Foreign Transfer Providers
Ratings & Reviews
Receive SGD($)Exchange RateFee MYRTotal CostTransfer ServicesTransfer SpeedDeal Links
 
Instarem logo
3,277 SGD0.327700.61%
 
OFX logo
3,284 SGD0.328400.39%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
Maybank International Money Transfers
Maybank logo
3,150.18 SGD0.3182RM1004.45%Online, Branch, Bank Transfers2-3 days
OCBC Bank International Money Transfers
OCBC Bank logo
3,150.18 SGD0.3182RM1004.45%Online, Branch, Bank Transfers2-3 days
United Overseas Bank International Money Transfers
United Overseas Bank logo
3,150.18 SGD0.3182RM1004.45%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
3,129 SGD0.3149155.11%Online, Branch, Bank Transfers2-3 days
HSBC logo
3,110.33 SGD0.3115RM155.66%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
3,082.3 SGD0.3086126.51%Online, Branch, Bank Transfers2-3 days
Instarem: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.3277 (0.61% from mid-rate)
SGD amount:3,277 SGD
Total Cost:0.61%
Time:1:07 Local
Transfer Speed:
Services:
Rating:
 
: 3.9/5.0
Reviews:
 
OFX: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.3284 (0.39% from mid-rate)
SGD amount:3,284 SGD
Total Cost:0.39%
Difference:
7 SGD more than using Instarem
Time:
Rate Fetched: 1:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Maybank logoMaybank

Maybank: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.3182 (3.49% from mid-rate)
SGD amount:3,150.18 SGD
Total Cost:4.45%
Difference:
127 SGD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

OCBC Bank logoOCBC Bank

OCBC Bank: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.3182 (3.49% from mid-rate)
SGD amount:3,150.18 SGD
Total Cost:4.45%
Difference:
127 SGD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

United Overseas Bank logoUnited Overseas Bank

United Overseas Bank: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.3182 (3.49% from mid-rate)
SGD amount:3,150.18 SGD
Total Cost:4.45%
Difference:
127 SGD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:15
Exchange Rate:0.3150 (4.46% from mid-rate)
SGD amount:3,129 SGD
Total Cost:5.11%
Difference:
148 SGD less than using Instarem
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:RM15 MYR (.15%)
Exchange Rate:0.3115 (5.52% from mid-rate)
SGD amount:3,110.33 SGD
Total Cost:5.66%
Difference:
167 SGD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer MYR→SGD
MYR amount:10,000 MYR
Fee:12
Exchange Rate:0.3086 (6.4% from mid-rate)
SGD amount:3,082.3 SGD
Total Cost:6.51%
Difference:
195 SGD less than using Instarem
Time:1:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the MYR-SGD 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 MYR-SGD exchange rate.

Currency news and forecasts for Malaysian Ringgit and Singapore Dollar

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 MYR vs SGD, you should pay attention to both Malaysian Ringgit and Singapore Dollar news and forecasts.

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.

Singapore Dollar (SGD) - Market news and forecasts

2019 has begun steadily for the Singapore dollar. In the third week of April, SGD is little changed (<1 percent) on the year against both the US dollar (S$1.356) and Australian dollar (S$0.97), but it continues to impress against the euro, relative to which it has strengthened by 2.5 percent year-to-date to S$1.524—near its strongest level in 2 years. A big-picture view shows SGD trading sideways against the pound since late 2016, now at S$1.763. SGD reached a 17-month high against the Malaysian ringgit in April, at RM3.073.

With core inflation at a 9-month low in the lead-up to this report and quarterly economic growth at a 2-year low, it’s likely that the Monetary Authority of Singapore will keep monetary policy unchanged when it next meets in October.

According to TradingEconomics.com, the Singapore dollar is likely to be worth S$1.37 per US dollar in 12 months’ time (April 2020).