Use this two-way calculator and chart to calculate amounts in either U.S. dollar or 1000 using
the real-time USD/MYR market mid-rate.
Then choose your transaction type
Foreign TransferTravel Money
to see the available exchange rates and reviews for our leading foreign exchange providers.
There are three important types of information that you need to know if you are to have any chance of getting the
best possible USD / MYR rate :
Market USD to MYR mid-rate - the starting point.
Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
Right now the USD/MYR market rate is
and represents how many
Malaysian ringgit
you can get for one U.S. dollar.
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.
You can calculate with the current mid-rate using our
USD to MYR
calculator below but note the rate will most likely be quite different by the time you make you currency exchange.
2. Transaction Costs - Margins and Fees for USD/MYR Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
USD to MYR Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from USD to MYR.
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This is the amount of money that could be received by your transfer at rate USD/MYR=3.7783 and inclusive of the fee of USD 0. Rate timestamp : Sun Apr 22 2018 03:05:06 GMT+0000 (UTC)
This is the average USD to MYR International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Amount of money that could be received by your currency exchange at rate USD/MYR=3.3956 and inclusive of the fee of USD 0. Rate timestamp : Sun Apr 22 2018 02:00:02 GMT+0000 (UTC)
This is the average USD to MYR Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.
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.
Why can't I just get the same USD/MYR market rate I see on Google or in the Media?
When you look up the current U.S. dollar to Malaysian ringgit exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
USD to MYR mid-rate on google search
Getting a great USD to MYR mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use the below
USD to MYR calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific U.S. dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for U.S. 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 is always determined quoted in comparison to another 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 U.S. dollar and Malaysian ringgit news and forecasts.
U.S. dollar (USD) - Market news and forecasts
Against a basket of currencies, the U.S. dollar held steady in February and March – a welcome change considering the currency’s 15% fall in the preceding 13 months. However, any boost the greenback might receive from higher U.S. interest rates (the Fed hiked again in March) is likely to be offset by the longer-term consequences of U.S. trade tariffs, thinks a growing number of FX analysts. The latest round of tariffs include those on steel and aluminium imports and on $60 billion worth of Chinese goods, all aimed at boosting U.S. manufacturers.
The question of whether China in particular would take retaliatory steps on trade was a hot topic approaching the end of March. Analysts at Bank of America Merrill Lynch, BK Asset Management and Lloyds all said that the dollar would weaken on any escalation of trade tensions. In March, Lloyds reduced its dollar-euro year-end forecast to 0.8 (EUR/USD 1.25), from 0.82.
With trade on everyone’s lips and with traders uninspired by U.S. economic prospects, it is not surprising that the dollar’s trajectory has decoupled in 2018 from that of U.S. interest rate expectations. Despite yields climbing steadily this year, the dollar has sunk.
“It’s easy to see the weak-dollar story persisting,” said ING in February. The bank has forecast dollar-euro at just 0.77 at year-end (EUR/USD 1.3).
Malaysian ringgit (MYR) - Market news and forecasts
The ringgit had a strong start to 2018. The currency climbed in early April to a 2-year high against the dollar (3.856), to an 11-month high against the euro (4.727) and to a 21-month high against the Australian dollar (2.957). At the time of this report, the ringgit was Asia’s second best performing currency of the year.
Investors will have to suffer greater volatility in ringgit markets in the second quarter, thinks the team at UOB, due to growing trade tensions between the US and China, which threatens the outlook of export-driven Asian economies like Malaysia. Any significant escalation of trade tensions might see investors sell the ringgit as they seek the relative safety of dollars, euros, yen and similar currencies. The ringgit will, however, be among the most resilient Asian currencies in the face of a trade war, says the bank, due to favourable domestic growth drivers.
UOB expects the ringgit to strengthen further by year-end to 3.8 per dollar.
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