Understanding the Table:
The comparison table above helps you see the total cost of your HSBC currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your details and click ‘Get Rates’.
The HSBC USD to MYR exchange rate is 3.964. This is -6.2% compared to the latest USD-MYR mid-market rate 4.2275.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Malaysian ringgit (MYR) rates from different sources before making a conversion.
The above HSBC - Dollar to Ringgit comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by HSBC and other foreign exchange providers against the latest USD-MYR mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best USD to MYR exchange rate is 4.2064 from OFX, -0.5% from the mid-market rate 4.2275. The next best rate is 4.2021 from XE, -0.6% from the mid-rate. Then Wise with 4.2 is -0.65% from the mid-rate.
The Western Union rate is 4.1852 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 3.8372 at -9.2% the Wells Fargo Bank rate is 3.8118 at -9.8% and the Citibank rate is 4.0063 at -5.2% compared to the mid-rate 4.2275.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like HSBC often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency: