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Best Exchange Rates

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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

Compare Deals
Foreign Transfer Providers
Ratings & Reviews
Receive MYR(RM)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
39,886 MYR
Best Overall
3.98860^2.12%Bank Transfers - Online & Phone1-2 days
Wells Fargo Bank logo
39,057 MYR
RM829 less
3.9127184.15%Online, Branch, Bank Transfers2-3 days
HSBC logo
39,029 MYR
RM857 less
3.9088$154.22%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
38,791 MYR
RM1,095 less
3.9018154.81%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
38,539 MYR
RM1,347 less
3.8928$1005.43%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
38,539 MYR
RM1,347 less
3.8928$1005.43%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:3.9886 (2.12% from mid-rate)
MYR amount:39,886 MYR
Total Cost:2.12%
Time:
Rate Fetched: Sun Feb 17 2019 22:03:46 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:18
Exchange Rate:3.9127 (3.98% from mid-rate)
MYR amount:39,057 MYR
Total Cost:4.15%
Difference:
RM829 less than using OFX
Time:0:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:3.9088 (4.08% from mid-rate)
MYR amount:39,029 MYR
Total Cost:4.22%
Difference:
RM857 less than using OFX
Time:0:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:15
Exchange Rate:3.8848 (4.67% from mid-rate)
MYR amount:38,791 MYR
Total Cost:4.81%
Difference:
RM1,095 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:3.8928 (4.47% from mid-rate)
MYR amount:38,539 MYR
Total Cost:5.43%
Difference:
RM1,347 less than using OFX
Time:0:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→MYR
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:3.8928 (4.47% from mid-rate)
MYR amount:38,539 MYR
Total Cost:5.43%
Difference:
RM1,347 less than using OFX
Time:0:08 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /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 in the US as licensed money transmitters. 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: 02/18/2019

1 USD = 4.077 MYR

This is the current USD-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 USD-MYR exchange rate.

3 Month Chart
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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

26-January-19: 2018 was a reasonable year for the dollar. Measured by the US Dollar Index, the greenback appreciated by 4 percent, which was much better than 2017’s 10 percent loss. It was, though, something of a stuttering end to 2018 and the dollar has had mixed fortunes in early 2019.

In December, after lifting US interest rates to 2.25-2.5 percent, the Fed lowered its expectations for future hikes due to so-called “cross currents” (China, Brexit, trade wars etc.). Skepticism among analysts over future Fed hikes has for some time been the main reason for dollar pessimism for 2019, but now, there is also the prospect of a US economic slowdown to contend with.

“A slowdown in the economy is likely to weigh on USD particularly in the second half of this year,” a CIBC researcher said in January.

Of the same opinion was an expert at ING, who argued that the dollar is soon to “embark on a gradual long-term bearish trend.”

January’s extended US government shutdown also has dollar-negative ramifications. Not only is the shutdown likely to hit first-quarter GDP growth, disagreements within Congress bode poorly for the future of potentially inflationary fiscal spending.

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.

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