United States 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 USD/MYR Exchange Rates
The below table is a snapshot of the costs charged by FX specialists and banks for USD/MYR International Money Transfers. Costs are calculated against the amount when USD is converted to MYR at mid-rate.
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40,380 MYR
Best Overall
4.038
0^
2.29%
Bank Transfers - Online & Phone, Foreign Currency Accounts
The below table shows a snapshot of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
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Right now the USD/MYR interbank exchange rate is 4.1335.
It’s also called the mid-market rate or just the mid-rate and is the rate that banks use when trading large amounts of foreign currencies with one another.
It's the reference rate we use to calculate how much you are being charged to convert Malaysian Ringgit to United States Dollar.
This USD/MYR Converter calculates equivalent United States Dollar to Malaysian Ringgit amounts at the market mid-rate.
You can also enter your own rates to find out the percentage difference to the latest market rates you are being charged.
United States Dollar to Malaysian Ringgit (USD-MYR) - 10 Year History
The below table shows the historic variation in the USD/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 USD versus other currencies : USD historical charts.
Date
Exchange Rate
Period
Change
22 Apr 2019
4.1369
Latest
15 Apr 2019
4.1153
1 Week
+0.52%
23 Mar 2019
4.0645
1 Month
+1.78%
24 Oct 2018
4.1673
6 Months
-0.73%
22 Apr 2018
3.8975
1 Year
+6.14%
22 Apr 2017
4.3995
2 Years
-5.97%
23 Apr 2014
3.2666
5 Years
+26.64%
24 Apr 2009
3.5847
10 Years
+15.4%
Why can't I just get the USD/MYR market rate I see on Google or in the Media?
The USD/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 USD / 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 USD/MYR midrate the better deal you are getting.
The three things you need in order to get a good USD to MYR exchange rate
Know the latest USD/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.
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.
Currency news and forecasts for United States 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 USD vs MYR, you should pay attention to both United States Dollar and Malaysian Ringgit news and forecasts.
United States Dollar (USD) - Market news and forecasts
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.
Malaysian Ringgit (MYR) - Market news and forecasts
The period between April and November 2018 was a tough one for the ringgit, as it lost value against the dollar on a near-weekly basis. Fortunately, losses in that period only amounted to 8 percent and only took the currency to a 1-year low of RM4.2 — it could have been much worse.
Since then, the ringgit has turned a corner; in late February it was trading at RM4.06, near 6-month highs.
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. There are positive factors though.
“With good GDP data and strong economic fundamentals coupled with positive external factors, I believe the ringgit can go higher to RM4.02 [per USD],” a dealer said in February.
The team at TradingEconomics.com believes the ringgit weakens to RM4.14 by year-end.
Malaysia