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No rates for MYR to USD travel card

MYR/USD - Convert Compare Save

Malaysian Ringgit to United States 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 transactions as shown below.

 

This resource page for the Malaysian Ringgit to United States Dollar exchange rate, has news, forecasts and MYR to USD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with our Exchange Rate Checker.

MYR/USD Exchange Rates - How to Compare & Save

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.

 

MYR to USD International Money Transfers

  

Foreign Transfer ProvidersReceive USD($)Exchange RateFee MYRTotal CostDeal Links
OFX logo
2,384 USD0.238400.42%
Maybank International Money Transfers
Maybank logo
2,286.9 USD0.231RM1004.47%
OCBC Bank International Money Transfers
OCBC Bank logo
2,286.9 USD0.231RM1004.47%
United Overseas Bank International Money Transfers
United Overseas Bank logo
2,286.9 USD0.231RM1004.47%
Banks - Average Rate
Citibank logo Maybank logo HSBC logo OCBC Bank logo United Overseas Bank logo
2,272 USD0.2287155.12%
HSBC logo
2,258.61 USD0.2262RM155.66%
Citibank International Money Transfers
Citibank logo
2,238.31 USD0.2241126.5%
 
OFX: Foreign Transfer MYR→USD
MYR amount:10,000 MYR
Fee:0
Exchange Rate:0.2384 (0.42% from mid-rate)
USD amount:2,384 USD
Total Cost:0.42%
Time:
Rate Fetched: 2:11 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:0.2310 (3.51% from mid-rate)
USD amount:2,286.9 USD
Total Cost:4.47%
Difference:
97 USD less than using OFX
Time:2:11 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:0.2310 (3.51% from mid-rate)
USD amount:2,286.9 USD
Total Cost:4.47%
Difference:
97 USD less than using OFX
Time:2:11 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:0.2310 (3.51% from mid-rate)
USD amount:2,286.9 USD
Total Cost:4.47%
Difference:
97 USD less than using OFX
Time:2:11 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:0.2287 (4.47% from mid-rate)
USD amount:2,272 USD
Total Cost:5.12%
Difference:
112 USD less than using OFX
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:0.2262 (5.51% from mid-rate)
USD amount:2,258.61 USD
Total Cost:5.66%
Difference:
125 USD less than using OFX
Time:2:11 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:0.2241 (6.39% from mid-rate)
USD amount:2,238.31 USD
Total Cost:6.5%
Difference:
146 USD less than using OFX
Time:2:11 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 06/18/2019 - See full table

MYR to USD interbank exchange rate = 0.2391

 
 

Exchange Rate Checker

If you have been offered/charged an exchange rate then enter it below to check the true cost to the latest interbank mid-rate.

 
   

Compare savings on MYR/USD exchange rates

Foreign Transfers

Foreign Transfers Travel Money

   

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.

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 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