Loading...

MYR to USD - Rate Guide

Malaysian Ringgit to US 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 = 0.2387 USD

   Sell MYR / Buy USD  Switch

MYR to USD - Trading Range (90 Day)
ALERT: 90-DAY LOWS 🔔 |
MYR/USD at 0.2387 was trading 1.4% below the 90-day average 0.2422 with a range 0.2387 to 0.2466. ALERT: MYR/USD has dropped to 90-DAY LOWS.
21-Feb 5PM-NY 10PM-LON | 22-Feb 9AM-SYD

More Charts


Quick Conversions from Malaysian Ringgit to US Dollar

MYR

USD

RM 1
U$ 0.2387
RM 5
U$ 1.1935
RM 10
U$ 2.3870
RM 20
U$ 4.7740
RM 50
U$ 11.94
RM 100
U$ 23.87
RM 250
U$ 59.68
RM 500
U$ 119.35
RM 1,000
U$ 238.70
RM 2,000
U$ 477.40
RM 5,000
U$ 1,194
RM 10,000
U$ 2,387
RM 50,000
U$ 11,935
RM 100,000
U$ 23,870
More amounts

MYR

USD

RM 4.1891
U$ 1
RM 20.95
U$ 5
RM 41.89
U$ 10
RM 83.78
U$ 20
RM 209.46
U$ 50
RM 418.91
U$ 100
RM 1,047
U$ 250
RM 2,095
U$ 500
RM 4,189
U$ 1,000
RM 8,378
U$ 2,000
RM 20,946
U$ 5,000
RM 41,891
U$ 10,000
RM 209,455
U$ 50,000
RM 418,910
U$ 100,000
More amounts

To calculate specific MYR/USD amounts use our Convert MYR to USD 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/USD International Money Transfers. Costs are calculated against the current interbank mid-rate.

 
  

MYR to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD(U$)Exchange RateFee MYRTotal CostDeal Links
TransferWise logo
2,372.84 U$0.2385RM510.59%
OFX logo
2,358 U$0.23580 for BER users (normally $15)1.21%
Maybank International Money Transfers
Maybank logo
2,279.97 U$0.2303RM1004.48%
OCBC Bank International Money Transfers
OCBC Bank logo
2,279.97 U$0.2303RM1004.48%
United Overseas Bank International Money Transfers
United Overseas Bank logo
2,279.97 U$0.2303RM1004.48%
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
2,265 U$0.2280155.13%
HSBC logo
2,251.62 U$0.2255RM155.67%
Citibank International Money Transfers
Citibank logo
2,231.32 U$0.2234126.52%
 
TransferWise logo
TransferWise: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM51 MYR (0.5% + RM1)
Exchange Rate:0.2385 (0.08% from mid-rate)
To Amount (USD)2,372.84 U$
Total Cost:0.59%
Time:1:09 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→USD
From Amount (MYR)RM10,000
Fee:0 for BER users (normally $15)
Exchange Rate:0.2358 (1.21% from mid-rate)
To Amount (USD)2,358 U$
Total Cost:1.21%
Difference:
U$15 USD less than using TransferWise
Time:
Rate Fetched: 1:09 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→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2303 (3.52% from mid-rate)
To Amount (USD)2,279.97 U$
Total Cost:4.48%
Difference:
U$93 USD less than using TransferWise
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
OCBC Bank logo
OCBC Bank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2303 (3.52% from mid-rate)
To Amount (USD)2,279.97 U$
Total Cost:4.48%
Difference:
U$93 USD less than using TransferWise
Time:1:09 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→USD
From Amount (MYR)RM10,000
Fee:RM100 MYR (1%)
Exchange Rate:0.2303 (3.52% from mid-rate)
To Amount (USD)2,279.97 U$
Total Cost:4.48%
Difference:
U$93 USD less than using TransferWise
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Banks - Average Rate
Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:15
Exchange Rate:0.2280 (4.48% from mid-rate)
To Amount (USD)2,265 U$
Total Cost:5.13%
Difference:
U$108 USD less than using TransferWise
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 
HSBC logo
HSBC: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:RM15 MYR (.15%)
Exchange Rate:0.2255 (5.53% from mid-rate)
To Amount (USD)2,251.62 U$
Total Cost:5.67%
Difference:
U$121 USD less than using TransferWise
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Citibank logo
Citibank: Foreign Transfer MYR→USD
From Amount (MYR)RM10,000
Fee:12
Exchange Rate:0.2234 (6.41% from mid-rate)
To Amount (USD)2,231.32 U$
Total Cost:6.52%
Difference:
U$142 USD less than using TransferWise
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 02/23/2020 - View latest rates
 

Country Guides (MYR & USD)

United StatesUnited States (USD)MalaysiaMalaysia (MYR)East TimorEast Timor (USD)
EcuadorEcuador (USD)El SalvadorEl Salvador (USD)British Virgin IslandsBritish Virgin Islands (USD)
US Virgin IslandsUS Virgin Islands (USD)Caribbean NetherlandsCaribbean Netherlands (USD)Turks and Caicos IslandsTurks and Caicos Islands (USD)
ZimbabweZimbabwe (USD)

MYR and USD in the Markets

When determining the best time to make a foreign exchange transaction, in this case the MYR vs USD, 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.

 

US Dollar (USD)

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 US dollar held its value in 2019 despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others.

At its October meeting the Federal Reserve cut the target range for the federal funds rate to 1.5-1.75 percent, the third rate cut so far this year, amid soft inflation indicators and general worries about the economy. However the central bank also signaled a pause in the easing cycle.

Taking the blame for the economic downturn is US President Donald Trump, whose trade war policies have set a ball rolling that could wipe $455bn from global output according to the IMF.

Read more in the article USD Forecasts.


How to get Best MYR to USD 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.

What is a good MYR to USD exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

The following table looks at the change in the MYR to USD exchange rate to the present day for periods going back upto 10 years.

PeriodMYR/USDDate
1 Day0.241317 Feb 2020
7 Day0.241911 Feb 2020
30 Day0.246619 Jan 2020
3 Month0.240120 Nov 2019
1 Year0.245118 Feb 2019
5 Year0.275619 Feb 2015
10 Year0.293420 Feb 2010

When is the best time to exchange MYR to USD?

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

We help you Save Money on Exchange Rates.

 

View all MYR Exchange Rates