What's in this NZD to MYR exchange rate review?
NZ Dollar to Malaysian Ringgit - Quick Conversions
|NZ$ 1||RM 2.7648|
|NZ$ 5||RM 13.82|
|NZ$ 10||RM 27.65|
|NZ$ 20||RM 55.30|
|NZ$ 50||RM 138.24|
|NZ$ 100||RM 276.48|
|NZ$ 250||RM 691.20|
|NZ$ 500||RM 1,382|
|NZ$ 1,000||RM 2,765|
|NZ$ 2,000||RM 5,530|
|NZ$ 5,000||RM 13,824|
|NZ$ 10,000||RM 27,648|
|NZ$ 50,000||RM 138,240|
|NZ$ 100,000||RM 276,480|
To calculate other NZD/MYR amounts try our home-page Convert NZD to MYR quick converter.
Comparing Retail Exchange Rates
The total cost for 'Retail' exchange rates you receive from your bank or foreign exchange provider consists of the margin from the 'Wholesale' rate (interbank mid-rate) plus any fixed or percentage fees.
These margins and fees can vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Also the exchange rate margin will also vary depending on the currency pair and total amount.
Country Guides - Malaysian Ringgit
NZ Dollar - Malaysian Ringgit Forecasting
When determining the best time to make a foreign exchange transaction, in this case the NZD vs MYR, you should pay attention to the recent market trends for both currencies.
NZ Dollar (NZD)
Although New Zealand has nearly eliminated COVID-19 and wound back restrictions, its international borders are likely to be closed until 2021. This means the economy will be slower to rebound as its reliance on tourism outweighs that of major counterparts. Despite the New Zealand economy’s reliance on tourism, the NZD has been well supported by positive risk sentiment, higher NZ–US short term yields and robust commodity prices.
Read more in the article NZD Forecasts.
Malaysian Ringgit (MYR)
The Malaysian ringgit is up around 2.5% against the US dollar for 2020 (in August) and is gaining favour from bank commentators such as HSBC due to the attraction of the carry trade - the ability to earn higher interest when holding MYR versus other major currencies.
Read more in the article MYR Forecasts.
How to get Best NZD to MYR 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.
What is a good NZD to MYR exchange rate?
This is always a difficult question as exchange rates are influenced by many factors, so a good method to consider the NZ Dollar vs Malaysian Ringgit current value is to look the NZD/MYR historic rate and change over a range of periods.
The following table looks at the change in the NZD to MYR exchange rate over periods from the previous week back to the last 10 years.
|31 Jul 2020 : 2.8115||1.6% ▼||1 Week|
|08 Jul 2020 : 2.8064||1.5% ▼||30 Days|
|09 May 2020 : 2.6602||4% ▲||90 Days|
|08 Aug 2019 : 2.7140||1.9% ▲||1 Year|
|09 Aug 2015 : 2.5938||6.6% ▲||5 Years|
|10 Aug 2010 : 2.2726||21.7% ▲||10 Years|
When is the best time to exchange NZD to MYR?
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.