Loading...
Best Exchange Rates

Home pages - full list (A-Z)

Compare SGD to MYR foreign transfers

Use our comparison table to find the best exchange rates for Malaysian Ringgit 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:

   
$SGD
RMMYR

Compare Deals
Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee SGDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
WorldFirst logo
29,388 MYR2.938802.54%Bank Transfers - Online & Phone1-2 days
 
OFX logo
29,353 MYR2.935302.65%Bank Transfers - Online & Phone1-2 days
OCBC Bank International Money Transfers
OCBC Bank logo
29,046 MYR2.9339$1003.67%Online, Branch, Bank Transfers2-3 days
DBS Bank International Money Transfers
DBS Bank logo
29,022 MYR2.9074183.75%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo OCBC Bank logo
28,822 MYR2.8927184.42%Online, Branch, Bank Transfers2-3 days
HSBC International Money Transfers
HSBC logo
28,737 MYR2.878$154.7%Online, Branch, Bank Transfers2-3 days
Citibank International Money Transfers
Citibank logo
28,481 MYR2.8515125.55%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:2.9388 (2.54% from mid-rate)
MYR amount:29,388 MYR
Total Cost:2.54%
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:2.9353 (2.65% from mid-rate)
MYR amount:29,353 MYR
Total Cost:2.65%
Difference:
RM35 less than using WorldFirst
Time:
Rate Fetched: Wed Feb 20 2019 00:15:09 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:2.9339 (2.7% from mid-rate)
MYR amount:29,046 MYR
Total Cost:3.67%
Difference:
RM342 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:2.9074 (3.58% from mid-rate)
MYR amount:29,022 MYR
Total Cost:3.75%
Difference:
RM366 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:2.8838 (4.36% from mid-rate)
MYR amount:28,822 MYR
Total Cost:4.42%
Difference:
RM566 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:2.8780 (4.55% from mid-rate)
MYR amount:28,737 MYR
Total Cost:4.7%
Difference:
RM651 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:2.8515 (5.43% from mid-rate)
MYR amount:28,481 MYR
Total Cost:5.55%
Difference:
RM907 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: 02/20/2019

1 SGD = 3.0107 MYR

This is the current SGD-MYR mid-market exchange rate. 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 SGD-MYR exchange rate.

3 Month Chart
Loading AUDUSD rates

Currency news and forecasts for Singapore Dollar and Malaysian Ringgit

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 SGD vs MYR, you should pay attention to both Singapore Dollar and Malaysian Ringgit news and forecasts.

Singapore Dollar (SGD) - Market news and forecasts

4-Jan-2019: 2018 was a steady year for the Singapore dollar. It lost out marginally against the US dollar (S$1.363) with a decline of 2 percent, but that was offset by a gain of nearly 3 percent against the euro (S$1.563). The Singapore dollar was especially strong last year against the Australian dollar, relative to which it climbed 8.5 percent to a 10-year high (AUD/SGD low) of S$0.961.

With Singapore being a small, trade-dependent country, prime risks to the SGD for 2019 will include a re-emergence of trade tensions between China and the US, and/or a global economic slowdown — the latter was a real possibility at the time of writing if economic data, higher interest rates, tumbling stock prices and earnings warnings from the world’s largest companies were anything to go by.

SGD will dip slightly in early 2019, an analyst at Singaporean bank OCBC said in January, before the “confluence of an uncertain Fed and a stabilization in China allows for a more sustained uptrend.” Don’t expect too much in the way of appreciation, though. The analyst argued for a floor under USD/SGD at S$1.30, indicative of potential SGD strength worth 5 percent from January’s opening rate.

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

Pound at 2-Week High Ahead of May-Juncker Brexit Meeting
Euro to Strike 20-Month Low This Week; $1.12 Beckons
HSBC Cuts Australian Dollar Forecast; Aussie to Buy Only US66¢ at Year-End
China’s Ant Financial Acquires WorldFirst
New Zealand Dollar Jumps After RBNZ Says It Won’t Lower Interest Rates
Dollar Optimism Drives Markets