MYR/USD update & alerts
1 MYR = 0.2388 USD
MYR/USD Exchange Rates and Providers Compared
This guide to the Malaysian Ringgit to United States Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and MYR to USD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our MYR/USD Quick Calculator.
Exchange rates can 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.
| Foreign Transfer Providers | Receive USD(U$) | Exchange Rate | Fee MYR | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | U$2,377 | 0.2377 | 0 | 0.63% | |
 | U$2,363 | 0.2363 | 0 for BER users (normally $15) | 1.21% | |
Banks - Average Rate      Average Bank Rate | U$2,270 | 0.2285 | 15 | 5.12% |
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.
United States Dollar (USD)
The US dollar has held its value this year despite a serious escalation in US-China trade tensions, mainly because the greenback is still considered a safer currency to own than most others. After grim employment data on June-7, the Dollar Index was up 0.5 percent on the year (it had fallen 2 percent from May’s 2-year high).
As in other parts of the world, interest rate cuts are now expected in the US following a drastic shift in economic forecasts. At least two Fed cuts are expected this year, with the first most likely to come in July.
Taking the blame for the economic downturn is US President Donald Trump, whose trade policies have set a ball rolling that could wipe $455bn from global output according to the IMF.
Read more in the article USD Forecasts.
Why can't I just get the MYR/USD market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the MYR / USD was traded (bought or sold) in the international markets.
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). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
We help you Compare & Save Money on Exchange Rates.
View all MYR Exchange Rates