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SGD to MYR - Compare Exchange Rates

Singapore Dollar to Malaysian Ringgit - Convert Compare Save

The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees. These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.

 

Compare SGD/MYR Exchange Rates

The below table is a snapshot of the costs charged by FX specialists and banks when making an International Money Transfer from SGD to MYR. The total costs are calculated against the latest mid-market rate.

Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee SGDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
WorldFirst logo
29,376 MYR2.937602.61%Bank Transfers - Online & Phone1-2 days
 
OFX logo
29,341 MYR2.934102.73%Bank Transfers - Online & Phone1-2 days
OCBC Bank International Money Transfers
OCBC Bank logo
29,057 MYR2.935$1003.67%Online, Branch, Bank Transfers2-3 days
DBS Bank logo
29,010 MYR2.9062183.83%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo OCBC Bank logo
28,815 MYR2.8921184.47%Online, Branch, Bank Transfers2-3 days
HSBC logo
28,725 MYR2.8768$154.77%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
28,469 MYR2.8503125.62%Online, Branch, Bank Transfers2-3 days
 
WorldRemit logo
Your amount above the WorldRemit SGD2000 maximum
WorldFirst: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:
Exchange Rate:2.9376 (2.61% from mid-rate)
MYR amount:29,376 MYR
Total Cost:2.61%
Time:1:09 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
 
OFX: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:0
Exchange Rate:2.9341 (2.73% from mid-rate)
MYR amount:29,341 MYR
Total Cost:2.73%
Difference:
35 MYR less than using WorldFirst
Time:
Rate Fetched: Sat Feb 23 2019 00:15:04 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
OCBC Bank: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:$100 SGD (1%)
Exchange Rate:2.9350 (2.7% from mid-rate)
MYR amount:29,057 MYR
Total Cost:3.67%
Difference:
319 MYR less than using WorldFirst
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
DBS Bank: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:2.9062 (3.65% from mid-rate)
MYR amount:29,010 MYR
Total Cost:3.83%
Difference:
366 MYR less than using WorldFirst
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo OCBC Bank logo

Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:18
Exchange Rate:2.8827 (4.43% from mid-rate)
MYR amount:28,815 MYR
Total Cost:4.47%
Difference:
561 MYR less than using WorldFirst
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
HSBC: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:$15 SGD (.15%)
Exchange Rate:2.8768 (4.63% from mid-rate)
MYR amount:28,725 MYR
Total Cost:4.77%
Difference:
651 MYR less than using WorldFirst
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
Citibank: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:12
Exchange Rate:2.8503 (5.51% from mid-rate)
MYR amount:28,469 MYR
Total Cost:5.62%
Difference:
907 MYR less than using WorldFirst
Time:1:09 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
WorldRemit: Foreign Transfer SGD→MYR
SGD amount:$10,000 SGD
Fee:
Transfer Speed:1 day
Services:Bank Transfers & Cash Pickup - Online only
Rating:
 
: 4.5/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Note we do not compare every single provider in the market, we compare a selection of established, reputable foreign exchange providers & banks who are regulated as financial payment services. We may receive referral fees if you choose one of these providers however this will not affect the exchange rates or fees you are charged.
Rate snapshot: 02/23/2019

SGD to MYR mid-rate = 3.0162

Right now the SGD/MYR market mid-rate is 3.0162 and represents ideally how many Malaysian Ringgit you can get for one Singapore Dollar.

This SGD/MYR Converter calculates equivalent Singapore Dollar to Malaysian Ringgit amounts at the market mid-rate:

SGD / MYR mid-rate converter


$SGD


RMMYR
1 Singapore Dollar equals
3.0162 Malaysian Ringgit

Compare how much you can save on
SGD/MYR exchange rates for:

Foreign Transfers

 
 
1 Week SGD to MYR Chart
Loading SGD/MYR rates

Singapore Dollar

Malaysian Ringgit

1 SGD 3.0162 MYR
5 SGD 15.08 MYR
10 SGD 30.16 MYR
20 SGD 60.32 MYR
50 SGD 150.81 MYR
100 SGD 301.62 MYR
250 SGD 754.05 MYR
500 SGD 1,508.10 MYR
1,000 SGD 3,016.20 MYR
2,000 SGD 6,032.40 MYR
5,000 SGD 15,081.00 MYR
10,000 SGD 30,162.00 MYR
50,000 SGD 150,810.00 MYR
100,000 SGD 301,620.00 MYR
See more

Singapore Dollar

Malaysian Ringgit

0.3315 SGD 1 MYR
1.6575 SGD 5 MYR
3.3150 SGD 10 MYR
6.6300 SGD 20 MYR
16.58 SGD 50 MYR
33.15 SGD 100 MYR
82.88 SGD 250 MYR
165.75 SGD 500 MYR
331.50 SGD 1,000 MYR
663.00 SGD 2,000 MYR
1,657.50 SGD 5,000 MYR
3,315.00 SGD 10,000 MYR
16,575.00 SGD 50,000 MYR
33,150.00 SGD 100,000 MYR
See more

MYR Country Guides
MalaysiaMalaysia

Singapore Dollar to Malaysian Ringgit (SGD-MYR) - 10 Year History

The below table shows the historic variation in the SGD/MYR exchange rate over the last 10 years. The percentage change is the difference from the date shown to present. This lets you decide if the current rate is in your favour. You can also view our various charts of SGD versus other currencies : SGD historical charts.

DateExchange RatePeriodChange
22 Feb 20193.0171Latest
15 Feb 20193.01041 Week+0.22%
23 Jan 20193.04571 Month-0.94%
26 Aug 20182.99886 Months+0.61%
22 Feb 20182.96881 Year+1.63%
22 Feb 20173.14902 Years-4.19%
23 Feb 20142.59885 Years+16.1%
24 Feb 20092.399510 Years+25.74%

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

The SGD/MYR 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 SGD / MYR was traded (bought or sold) in the international markets.

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.

The closer your final exchange rate is to the market SGD/MYR midrate the better deal you are getting.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

The three things you need in order to get a good SGD to MYR exchange rate

  1. Know the latest SGD/MYR market mid-rate. The closer your final exchange rate is to this real market rate the better deal you are getting. You should also judge how the current rate compares to the historic rate over the past 10 years.
  2. Compare your Bank's transaction costs to several licensed FX providers, remember to compare the exchange rate margins as well as the various types of fees. We make that easy to do with our calculators for Foreign Transfers and Travel Money transactions.
  3. Review up-to-date Currency News and Forecasts for both the and currencies, if available.

Currency news and forecasts for Singapore Dollar and Malaysian Ringgit

Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.

So it follows that if you are determining the best time to transact, in this case the SGD vs MYR, you should pay attention to both Singapore Dollar and Malaysian Ringgit news and forecasts.

Singapore Dollar (SGD) - Market news and forecasts

22-February-2019: 2018 was a steady year for the Singapore dollar: on balance it gained value, but it did lose out slightly against the world’s reserve currency, the US dollar.

2019 has begun reasonably well. Entering the final week of February, SGD was a percent higher year-to-date versus USD, but at US$0.74 was in line with its 2018 average rate. SGD was 2 percent higher year-to-date against EUR at a 9-month closing high of €0.653 — 4 percent higher than 2018’s average.

Against AUD, in February, SGD was unchanged year-to-date but was 4.5 percent higher than last year's average, at A$1.038. During a flash crash on January 3rd, SGD/AUD briefly traded at a 10-year high of A$1.088.

With Singapore being a small, trade-dependent country, prime risks to SGD for 2019 include the re-emergence of trade tensions between China and the US, and/or a serious global economic slowdown.

Traders, though, were happy to bet against the above risks and on SGD appreciation at the time of this report: a Reuters survey in February showed “long” SGD positions among bank traders rising to the highest level in 10 months.

Malaysian Ringgit (MYR) - Market news and forecasts

Like many other emerging market currencies, the ringgit struggled in 2018.

The ringgit weakened in November to a one-year low of RM4.2 per USD but had recovered slightly by the time of this report into the high RM4.17s.

Against the Singapore dollar — the currency of Malaysia’s largest trading partner — the ringgit weakened in November to 3.06 (also a one-year low at the time), before recovering to 3.043.

Among factors contributing to the ringgit’s weakness in 2018 has been political uncertainty relating to Malaysia's ruling Pakatan Harapan coalition, a 40 percent end-of-year crash in the price of oil, as well as general risk-off sentiment, driven partly by global trade tensions and most evident from a 20 percent fall in US equities prices. Higher US interest rates also make holding Malaysian currency less attractive.

“The ringgit will remain weak due to continued political uncertainty,” Fitch’s head of Asia Country Risk said in December.

For 2019 year-end, the team at TradingEconomics.com is forecasting USD/MYR and SGD/MYR at 4.19 and 3.01.

Currency News and Forecasts

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