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Compare USD 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:

   
$USD
RMMYR

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Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
40,380 MYR
Best Overall
4.0380^2.29%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
39,541 MYR
839 MYR
3.9612184.32%Online, Branch, Bank Transfers2-3 days
HSBC logo
39,512 MYR
868 MYR
3.9571$154.39%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
39,271 MYR
1,109 MYR
3.9500154.97%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
39,015 MYR
1,365 MYR
3.9409$1005.59%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
39,015 MYR
1,365 MYR
3.9409$1005.59%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:4.0380 (2.29% from mid-rate)
MYR amount:40,380 MYR
Total Cost:2.29%
Time:
Rate Fetched: Mon Apr 22 2019 22:03:47 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:18
Exchange Rate:3.9612 (4.15% from mid-rate)
MYR amount:39,541 MYR
Total Cost:4.32%
Difference:
839 MYR less than using OFX
Time:0:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:3.9571 (4.24% from mid-rate)
MYR amount:39,512 MYR
Total Cost:4.39%
Difference:
868 MYR less than using OFX
Time:0:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:15
Exchange Rate:3.9329 (4.83% from mid-rate)
MYR amount:39,271 MYR
Total Cost:4.97%
Difference:
1,109 MYR less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:3.9409 (4.64% from mid-rate)
MYR amount:39,015 MYR
Total Cost:5.59%
Difference:
1,365 MYR less than using OFX
Time:0:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:3.9409 (4.64% from mid-rate)
MYR amount:39,015 MYR
Total Cost:5.59%
Difference:
1,365 MYR less than using OFX
Time:0:01 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
3 Month Chart
Loading AUDUSD rates

This is a chart showing the change in the USD-MYR mid-market exchange rate over the last week. 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 USD-MYR exchange rate.

Currency news and forecasts for United States 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 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.