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  1. Exchange Rates
  2. Malaysian ringgit (MYR)
  3. U.S. dollar (USD)

Convert MYR to USD at Best Exchange Rates

There are three important types of information that you need to know if you are to have any chance of getting the best possible MYR / USD rate :

  1. Find the Market MYR to USD mid-rate - the starting point.
  2. Check your FX provider's transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for Foreign Transfers and Travel Money transactions.
  3. Review up-to-date Currency News, Research and Forecasts for both currencies.

1. Market MYR/USD mid-rate

The closer your final exchange rate is to the market MYR/USD midrate the better deal you are getting.
1 Malaysian ringgit equals
U.S. dollar 1MYR=USD

Right now the MYR/USD market rate is and represents how many U.S. dollar you can get for one Malaysian ringgit.

The MYR/USD mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. The closer your final exchange rate is to the market MYR/USD midrate the better deal you are getting. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the currencies were exchanged in a transaction (bought or sold) in the international markets.

MYR to USD Exchange Rate Calculator

RM
$
1 MYR equals
USD 1MYR=USD

Compare rates for: Foreign Transfers    Travel Money

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Loading MYR/USD Chart

Malaysian ringgit to U.S. dollar (MYR-USD) Recent History

WhenExchange RateDate
1 Week ago0.257418 Apr 2018
1 Month ago0.25726 Mar 2018
6 Months ago0.235827 Oct 2017
1 Year ago0.228825 Apr 2017
2 Years ago0.255725 Apr 2016
5 Years ago0.329426 Apr 2013
10 Years ago0.316927 Apr 2008

There are three important types of information that you need to know if you are to have any chance of getting the best possible MYR / USD rate :

  1. Market MYR to USD mid-rate - the starting point.
  2. Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for Foreign Transfers and Travel Money transactions.
  3. Up-to-date Currency News, Research and Forecasts for Malaysian ringgit and U.S. dollar.

1. Market MYR/USD mid-rate

Right now the MYR/USD market rate is and represents how many U.S. dollar you can get for one Malaysian ringgit.

The MYR/USD mid-rate is the rate you will see Quoted on Google or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between the last rate at which the MYR / USD was traded (bought or sold) in the international markets.

1 Malaysian ringgit equals
U.S. dollar 1=

2. Transaction Costs - Margins and Fees for MYR/USD Foreign Exchange

The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.

MYR to USD Foreign Transfer - Costs Compared

You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from MYR to USD.

Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending MYR 10,000 to USD

 OFX
1MYR=0.2517USD
$2517.00 USD (1.49%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $2517.00 USD
Exchange Rate: 0.2517
(Inverse 1USD=MYR 3.9730)
Fees: MYR 0
Total Cost : 1.49% (from mid-rate: 0.2555)
This is the amount of money that could be received by your transfer at rate MYR/USD=0.2517 and inclusive of the fee of MYR 0.
Rate timestamp : 15:14 Local
Bank Rates - Average
1MYR=0.239USD
$2386.42 USD (6.6%)
This is the average MYR to USD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $2386.42 USD
Exchange Rate: 0.2390
(Inverse 1USD=MYR 4.1841)
Fees: MYR 15
Total Cost : 6.6% (from mid-rate: 0.2555)
Receive USD $131 less than with   OFX
This is the amount of money that could be received by your transfer at rate MYR/USD=0.239 and inclusive of the fee of MYR 15.

Travel Money MYR to USD - Costs Compared

The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.


Buy Travel Money from Travelex

Our other partners aren't publishing any live MYR/USD rates right now.

You can calculate with the latest MYR/USD market rate (Interbank mid-rate).


Getting a good market rate is mainly about timing however 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 comparison calculators make shopping around easy and help you calculate how much you can save.

Why can't I just get the same MYR/USD market rate I see on Google or in the Media?

When you look up the current Malaysian ringgit to U.S. dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.

Getting a great MYR to USD mid-market rate is all about timing, so unless you are able to wait, watch and time the market this is largely beyond your control. This rate will go up and down with varying amounts of volatility depending on the currency pair.

This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.

You can use the below MYR to USD calculator to convert currency amounts using the latest mid-market exchange rates. Then choose your transaction type for specific Malaysian ringgit cross rates and reviews of leading foreign exchange providers versus the Banks.


3. Currency News, Research and Forecasts for Malaysian ringgit and U.S. 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 is always determined quoted in comparison to another 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 U.S. dollar news and forecasts.

Malaysian ringgit (MYR) - Market news and forecasts

The ringgit had a strong start to 2018. The currency climbed in early April to a 2-year high against the dollar (3.856), to an 11-month high against the euro (4.727) and to a 21-month high against the Australian dollar (2.957). At the time of this report, the ringgit was Asia’s second best performing currency of the year.

Investors will have to suffer greater volatility in ringgit markets in the second quarter, thinks the team at UOB, due to growing trade tensions between the US and China, which threatens the outlook of export-driven Asian economies like Malaysia. Any significant escalation of trade tensions might see investors sell the ringgit as they seek the relative safety of dollars, euros, yen and similar currencies. The ringgit will, however, be among the most resilient Asian currencies in the face of a trade war, says the bank, due to favourable domestic growth drivers.

UOB expects the ringgit to strengthen further by year-end to 3.8 per dollar.

U.S. dollar (USD) - Market news and forecasts

Against a basket of currencies, the U.S. dollar held steady in February and March – a welcome change considering the currency’s 15% fall in the preceding 13 months. However, any boost the greenback might receive from higher U.S. interest rates (the Fed hiked again in March) is likely to be offset by the longer-term consequences of U.S. trade tariffs, thinks a growing number of FX analysts. The latest round of tariffs include those on steel and aluminium imports and on $60 billion worth of Chinese goods, all aimed at boosting U.S. manufacturers.

The question of whether China in particular would take retaliatory steps on trade was a hot topic approaching the end of March. Analysts at Bank of America Merrill Lynch, BK Asset Management and Lloyds all said that the dollar would weaken on any escalation of trade tensions. In March, Lloyds reduced its dollar-euro year-end forecast to 0.8 (EUR/USD 1.25), from 0.82.

With trade on everyone’s lips and with traders uninspired by U.S. economic prospects, it is not surprising that the dollar’s trajectory has decoupled in 2018 from that of U.S. interest rate expectations. Despite yields climbing steadily this year, the dollar has sunk.

“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast dollar-euro at just 0.77 at year-end (EUR/USD 1.3).