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Compare MYR to USD foreign transfers

Use our comparison table to find the best exchange rates for United States 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
$USD

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Foreign Transfer Providers
Ratings & Reviews
Receive USD($)Exchange RateFee MYRTotal CostTransfer ServicesTransfer SpeedDeal Links
 
Instarem logo
2,405 USD0.240500.62%
 
OFX logo
2,410 USD0.24100.41%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
Maybank International Money Transfers
Maybank logo
2,311.65 USD0.2335RM1004.48%Online, Branch, Bank Transfers2-3 days
OCBC Bank International Money Transfers
OCBC Bank logo
2,311.65 USD0.2335RM1004.48%Online, Branch, Bank Transfers2-3 days
United Overseas Bank International Money Transfers
United Overseas Bank logo
2,311.65 USD0.2335RM1004.48%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
2,296 USD0.2311155.13%Online, Branch, Bank Transfers2-3 days
HSBC logo
2,282.57 USD0.2286RM155.68%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
2,262.28 USD0.2265126.52%Online, Branch, Bank Transfers2-3 days
Instarem: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.2405 (0.62% from mid-rate)
USD amount:2,405 USD
Total Cost:0.62%
Time:1:07 Local
Transfer Speed:
Services:
Rating:
 
: 3.9/5.0
Reviews:
 
OFX: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.2410 (0.41% from mid-rate)
USD amount:2,410 USD
Total Cost:0.41%
Difference:
5 USD 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→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2335 (3.51% from mid-rate)
USD amount:2,311.65 USD
Total Cost:4.48%
Difference:
93 USD 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→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2335 (3.51% from mid-rate)
USD amount:2,311.65 USD
Total Cost:4.48%
Difference:
93 USD 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→USD
MYR amount:10,000 MYR
Fee:RM100 MYR (1%)
Exchange Rate:0.2335 (3.51% from mid-rate)
USD amount:2,311.65 USD
Total Cost:4.48%
Difference:
93 USD 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→USD
MYR amount:10,000 MYR
Fee:15
Exchange Rate:0.2312 (4.46% from mid-rate)
USD amount:2,296 USD
Total Cost:5.13%
Difference:
109 USD less than using Instarem
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:RM15 MYR (.15%)
Exchange Rate:0.2286 (5.54% from mid-rate)
USD amount:2,282.57 USD
Total Cost:5.68%
Difference:
122 USD 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→USD
MYR amount:10,000 MYR
Fee:12
Exchange Rate:0.2265 (6.4% from mid-rate)
USD amount:2,262.28 USD
Total Cost:6.52%
Difference:
143 USD 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-USD 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-USD exchange rate.

Currency news and forecasts for Malaysian Ringgit and United States 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 USD, you should pay attention to both Malaysian Ringgit and United States 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.

United States Dollar (USD) - Market news and forecasts

In the final week of April, the Dollar Index smashed through a major resistance point at 97.70 and broke towards a 2-year high of 98.25. The index was up 2 percent year-to-date and was 11 percent higher than 2018’s low.

2019’s dollar gains have come chiefly at the expense of the euro, the Swiss franc and the Swedish krona, which all trade at or near multi-year lows. USD is also inflicting pain on the Australian dollar and other important currencies.

The greenback’s 2019 strength has come in spite of a dovish turn by the Federal Reserve, which said in March it expects no interest rate increase this year. Fortunately for dollar holders, the rest of the world has problems and many other central banks have also turned dovish, removing any incentive for selling USD.

Scotiabank admitted defeat in April when it said that the dollar was likely to be “stronger for longer.” It had long held a bearish view on the dollar.

Bloomberg Research warned in April of potential for a large dollar move, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in April at a 5-year low.