The live mid-rate USD to MYR exchange rate is 4.2315. Compare CIMB Bank currency conversion rates - Reduce FX costs.
The best USD to MYR exchange rate is our partner deal rate of 4.2103 from OFX . This is -0.5% compared to the mid-market rate 4.2315.
The standard OFX USD-MYR rate is 4.0935, -3.3% 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 4.2103 from OFX, -0.5% from the mid-market rate 4.2315. The next best rate is 4.2061 from XE, -0.6% from the mid-rate. Then Wise with 4.204 is -0.65% from the mid-rate.
The Western Union rate is 4.1892 which is -1% from the mid-rate.
Among the banks, the Chase Bank rate is 3.8608 at -8.8%, the Wells Fargo Bank rate is 3.8354 at -9.4%, and the Citibank rate is 4.03 at -4.8% compared to the mid-rate 4.2315.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like CIMB Bank 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 CIMB Bank Dollar to Ringgit comparison table above makes it easy to compare the Total Fees (both variable and fixed) you are being charged by CIMB Bank and other foreign exchange providers against the latest USD-MYR mid-rate (see Market Data below ) and the possible savings of using various providers.
CIMB Bank, also known as CIMB Group Holdings Berhad, is a leading financial institution based in Malaysia. It is one of the largest banks in Southeast Asia and operates across various countries in the region.
CIMB Bank was established in 1924 as the United Asian Bank and went through several mergers and acquisitions over the years. In 2005, it merged with Commerce International Merchant Bankers (CIMB) to form CIMB Group Holdings Berhad, the parent company of CIMB Bank.
CIMB Bank operates in multiple countries, including Malaysia, Indonesia, Thailand, Singapore, Cambodia, and Vietnam. It has a strong regional presence and provides banking services to individuals, businesses, and corporations.
Sending or receiving international transfers to or from your CIMB Bank account will include a margin rate of between 3.5% to 8% – this is much higher than most money transfer broker rates (which are normally 0.5 to 1.5%).
In addition to the exchange rate margin CIMB charge a fixed fee that will vary according to the product and the currencies involved, here is a table with a sample:
| Products/Items | Charges |
|---|---|
| Branch |
Singapore Dollar Indonesian Rupiah All other currencies |
| CIMB Clicks (Online) |
RM10.00 RM20.00 RM30.00 |
| SpeedSend - RM250 to RM50,000 (limit of up to RM50,000 per customer per day for all payment purposes) | RM10.00 / transaction |
| Inward Telegraphic Transfer/RENTAS from other banks for Credit to CIMB Account. | No charge |
| Inward Telegraphic Transfer from Foreign Banks or Nostro Account Statements for Credit to CIMB Account. | RM5.00 |
| Inward Telegraphic Transfer for Credit to Other Bank Customer's Account via Banker's Cheque. | RM5.15 (Inclusive stamp duty) |
| Inward Telegraphic Transfer for Credit to Other Bank Customer's Account via RENTAS. | RM9.00 |
CIMB Bank offers various products that involve foreign exchange (FX) transactions and may charge FX margins and fees. Here are some of the products where FX these costs may apply:
International Wire Transfers: When sending or receiving international wire transfers through CIMB Bank, FX fees may be imposed. These fees are generally charged for converting funds between different currencies and may vary depending on the transfer amount and destination currency.
Credit Cards: CIMB Bank provides credit cards that can be used for international transactions. When making purchases or cash withdrawals in a currency different from the card's billing currency, a foreign transaction fee may be applied. This fee is typically a percentage of the transaction amount and is charged to cover the currency conversion costs.
Debit Cards: Similar to credit cards, CIMB Bank's debit cards can be used for international transactions. When using a debit card for purchases or cash withdrawals in a foreign currency, a foreign transaction fee may be charged.
Overseas ATM Withdrawals: If you use a CIMB Bank card to withdraw cash from ATMs located abroad, an FX fee may be applied. This fee covers the currency conversion costs associated with converting the withdrawn amount into the card's billing currency.
When sending money abroad, CIMB Bank allows you to request a real-time FX rate request, prior to scheduling an international wire. So you can check the rate and compare to the best rates from our BER partner brokers to check for a better deal.
US dollar (USD) to Malaysian ringgit (MYR) market data - latest interbank exchange rate, trend, chart & historic rates.
| Date | USD/MYR | Change | Period |
|---|---|---|---|
22 Apr 2025 | 4.3910 | 3.5% ▼ | 2 Week |
05 Feb 2025 | 4.4225 | 4.2% ▼ | 3 Month |
06 May 2024 | 4.7395 | 10.6% ▼ | 1 Year |
07 May 2020 | 4.3245 | 2.1% ▼ | 5 Year |
09 May 2015 | 3.5918 | 17.9% ▲ | 10 Year |
11 May 2005 | 3.8000 | 11.5% ▲ | 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 recent movements in the USD to MYR exchange rate reflect a complex interplay of economic data, geopolitical tensions, and market sentiment. Analysts note that the US dollar (USD) has recently declined as risk-positive sentiments have emerged, curtailing demand for the traditionally safe-haven currency. The USD fell to around 4.2050 MYR, reaching 90-day lows and 4.8% below its three-month average. This decline indicates a shift in risk appetite among investors, which is further compounded by the recent tariff announcements from the US government.
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 in Malaysia plus living and doing business 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.
Doing business in Malaysia is relatively easy. The country has a well-developed infrastructure and a relatively business-friendly regulatory environment. Corruption is a problem, but it is not as prevalent as in some other countries in the region.
The economy in Malaysia is doing well. The country has a strong manufacturing sector, and its exports have been growing steadily. The government has been investing heavily in infrastructure and has been working to attract foreign investment. The unemployment rate is low, and the country has a relatively high level of economic freedom.
Read more at our Malaysia (MYR) country guide
Markets have shifted focus to the interest rate policies of other major central banks rather than the Federal Reserve.
Instarem provides fast, safe and cost effective cross border money transfer services for Individuals and businesses from Australia, Hong Kong, India, Malaysia and Singapore to more than 25 countries.
News2019-04-18
What is arguably Southeast Asia’s most important exchange rate, Singapore dollar-Malaysian ringgit, leapt on Thursday to its highest level since November 2017, driven by FTSE Russell’s decision to reconsider Malaysia’s inclusion in an important bond index.
Further reading on the Malaysian ringgit (MYR) - Guides, Reviews & News from our research team.
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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