Understanding the Table:
The comparison table above helps you see the total cost of your OFX 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 transaction type, details and click ‘GET RATES’.
The average SGD rate margin offered by OFX is 3.4%.
This average is based on individual SGD 10K transfer rates in the currency pairs from OFX that we monitor.
💡 It is important to note that these OFX rates are their public quoted rates and do not include our special BER/OFX deals rates which start at 0.5% for major currencies and improve for larger amounts. Please use our calculators to check these special rates and use our 'Visit OFX' links to secure these deals.
The tables below show the best and worst exchange rate margins offered by OFX for Singapore dollar (SGD 10K) transactions. Margins show the percentage difference from the mid-market rate.
Singapore dollar (SGD) to Malaysian ringgit (MYR) market data - latest interbank exchange rate, trend, chart & historic rates.
Bias: bearish-to-range-bound, as USD/MYR trades below the 90-day average and sits in the lower half of the 3-month range, with limited upside risk while the path remains sticky.
To help you understand the real-world value of the current exchange rate, the table below shows how much Singapore dollar are worth in Malaysian ringgit across a range of amounts.
This gives a quick view of what you’d get when converting different SGD amounts at today’s rate * :
| SGD | MYR |
|---|---|
| S$ 1,000 | RM 3,161 |
| S$ 5,000 | RM 15,806 |
| S$ 20,000 | RM 63,222 |
| S$ 100,000 | RM 316,110 |
| SGD | MYR |
|---|---|
| S$ 316.30 | RM 1,000 |
| S$ 1,582 | RM 5,000 |
| S$ 6,326 | RM 20,000 |
| S$ 31,630 | RM 100,000 |
More amounts
*Converted at the current SGD-MYR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The OFX SGD to MYR exchange rate is 3.1453. This is -0.5% compared to the latest SGD-MYR mid-market rate 3.1611.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Singapore dollar (SGD) to Malaysian ringgit (MYR) rates from different sources before making a conversion.
The above OFX - Singapore dollar to Ringgit comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by OFX and other foreign exchange providers against the latest SGD-MYR mid-rate and the possible savings of using various providers.
Looking at the full SGD to MYR - Send Money comparison table the provider with the best SGD to MYR exchange rate is Wise at 3.1482, -0.41% from the latest mid-market rate 3.1611.
The next best is OFX at 3.1453, -0.5% from the mid-rate.
Then XE at 3.1422, which is -0.6% from the mid-rate.
Among the banks the CIMB Bank rate is 3.0734 at -2.8% the OCBC Bank rate is 3.0758 at -2.7% and the Maybank rate is 3.0505 at -3.5% compared to the mid-rate 3.1611.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks and foreign exchange providers 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 like OFX or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency:
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