The live mid-rate USD to MYR exchange rate is 4.5100. Compare currency conversion rates - Reduce FX costs.
The best USD to MYR exchange rate is our partner deal rate of 4.4875 from OFX . This is -0.5% compared to the mid-market rate 4.5100.
The standard OFX USD-MYR rate is 4.3546, -3.4% from the mid-rate. Visit OFX here to secure the better rate.
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.
Looking at our comparison table the best USD to MYR exchange rate is 4.4875 from OFX, -0.5% from the mid-market rate 4.5100. The next best rate is 4.4829 from XE, -0.6% from the mid-rate. Wise with 4.4807 is -0.65% from the mid-rate.
The Western Union rate is 4.4649 which is -1% from the mid-rate.
Among the banks, the Citibank rate is 4.287 at -4.9%, the Chase Bank rate is 4.1066 at -8.9%, and the Wells Fargo Bank rate is 4.0795 at -9.5% from the mid-rate.
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 or platforms that offer rates closer to the mid-market rate.
The Dollar to Ringgit comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by banks and other foreign exchange providers against the latest USD-MYR mid-rate (see Market Data below ) and the possible savings of using various providers.
US dollar (USD) to Malaysian ringgit (MYR) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | USD/MYR | Change | Period |
|---|---|---|---|
30 Dec 2024 | 4.4650 | 1% ▲ | 2 Week |
15 Oct 2024 | 4.3105 | 4.6% ▲ | 3 Month |
14 Jan 2024 | 4.6470 | 3% ▼ | 1 Year |
15 Jan 2020 | 4.0725 | 10.7% ▲ | 5 Year |
16 Jan 2015 | 3.5585 | 26.7% ▲ | 10 Year |
18 Jan 2005 | 3.8002 | 18.6% ▲ | 20 Year |
Here are some popular conversion amounts for USD to MYR (US dollar to Malaysian ringgit)*.
*Converted at the current USDMYR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
The USD to MYR exchange rate remains a focal point for FX analysts, particularly as the US dollar shows resilience amid ongoing market volatility associated with Donald Trump's policies and U.S. economic data releases. Currently, the USD is trading at 4.4957 MYR, representing a slight increase of 1.4% over its three-month average of 4.4319. This uptick aligns with a broader trend of the dollar gaining momentum due to expectations for elevated interest rates driven by inflation concerns, exacerbated by Trump's fiscal policies. Meanwhile, analysts maintain that the USD may experience additional upward pressure as market sentiment gauges the implications of upcoming payroll data and overall economic indicators.
Read our full review of recent USD to MYR forecasts.
There are several ways to save on exchange rates when converting US dollar to Malaysian ringgit:
Generally speaking, if you are buying Malaysian ringgit with US dollar, then it's better for the USD/MYR exchange rate to be higher.
However working against you are the fees all foreign exchange providers charge for providing their service. These fees is usually contained within the exchange rate margin (or difference to the mid-rate).
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.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
Read our Currency guide to Malaysia - a practical currency and money guide to travel, living and doing business in Malaysia with the Malaysian ringgit.
It's worth noting that while these tips can help you save on exchange rates, it's important to be aware that no single method is guaranteed to provide the best exchange rate in every situation, and it may require some research and comparison-shopping to find the best option for your specific needs.
It is almost impossible to predict what an exchange rate will do in the future, the best approach is to monitor the currency markets and transact when an exchange rate moves in your favour.
To help with this you can add USD/MYR to your personalised Rate Tracker to track and benefit from currency movements.
Rather than requiring you to set a target rate, our Rate Alerts keep you informed of recent trends and movements of currency pairs.
Add rates to your Rate Tracker and select to receive an daily email (mon-fri) or when a rate is trending
| United States (USD) | Malaysia (MYR) |
The expat life in Malaysia can be quite comfortable, depending on where you live. Most expats live in urban areas like Kuala Lumpur, where they have access to international schools, western supermarkets, and hospitals. There are also many expat-friendly activities and events in the city.
There are several laws in Malaysia that foreigners should be aware of, such as the Sedition Act, the Communications and Multimedia Act, and the Official Secrets Act.
Read more at our Malaysia (MYR) country guide
Forecasts disclaimer: Please be advised that the forecasts and analysis of market data presented on BestExchangeRates.com are solely a review and compilation of forecasts from various market experts and economists. These forecasts are not meant to reflect the opinions or views of BestExchangeRates.com or its affiliates, nor should they be construed as a recommendation or advice to engage in any financial transactions. Read more
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