Convert Malaysian Ringgit (MYR) to USD, SGD, EUR, JPY, CNY, AUD and GBP with indicative mid-market rates. Learn about spreads, BNM reference rates, and where to get the best exchange rates in Malaysia.
🇲🇾 100.00 MYR =
$ 22.10
USD — US Dollar
Quick amounts:
| Currency | 1 MYR = | 1 Unit = |
|---|---|---|
| 🇺🇸USDUS Dollar | $ 0.22 | RM 4.5249 |
| 🇸🇬SGDSingapore Dollar | S$ 0.30 | RM 3.3784 |
| 🇪🇺EUREuro | € 0.20 | RM 4.8900 |
| 🇯🇵JPYJapanese Yen | ¥ 33 | RM 0.0301 |
| 🇨🇳CNYChinese Yuan | ¥ 1.60 | RM 0.6250 |
| 🇦🇺AUDAustralian Dollar | A$ 0.34 | RM 2.9155 |
| 🇬🇧GBPBritish Pound | £ 0.17 | RM 5.7803 |
Rates are approximate and indicative only. For accurate live rates, use Bank Negara Malaysia (BNM) or your bank's official rate board.
Written by Alvin Chan
Reviewed by the SmartCalc Editorial Team · Last updated: 25 June 2025
Sources: Bank Negara Malaysia, Exchange Control Act 1953
Important: Rates shown in the calculator above are indicative mid-market rates only. They are not live and cannot be used for actual transactions. For real transactions, always check with your bank, licensed money changer, or Bank Negara Malaysia for current rates.
Whether you're planning a trip to Singapore, sending money to family overseas, paying for university tuition in Australia, or managing a business with USD receivables, understanding how currency exchange works in Malaysia — and where to get the best rates — can save you hundreds of ringgit per transaction. This guide covers three real-world scenarios, explains how the BNM reference rate system works, compares banks vs money changers vs digital remittance services, and answers common questions for Malaysians exchanging currency in 2025.
Scenario: Weekend trip to Singapore, budget SGD500 for the trip. You want to exchange MYR to SGD before departure.
At bank rate: SGD500 costs RM1,715
At money changer: SGD500 costs RM1,700
Saving by using money changer: RM15
For SGD, the difference is modest — but on larger amounts or less common currencies, spreads matter more.
Scenario: Your child is studying in Melbourne. Semester tuition is AUD8,000. You need to remit AUD from Malaysia quarterly.
Bank TT: AUD8,000 × RM2.99 + RM30 fee = RM23,950
Wise: AUD8,000 × RM2.93 + RM50 fee = RM23,490
Saving with Wise vs bank: RM460 per transfer
Annual saving (4 transfers): RM1,840
Scenario: Small business owner paying a USD5,000 invoice to a US supplier monthly.
BNM mid-market: USD 1 = RM 4.52
Bank TT sell rate (~2%): USD 1 = RM 4.61 → USD5,000 costs RM23,050
Merchantrade/Wise rate (~0.5%): USD 1 = RM 4.54 → USD5,000 costs RM22,700
Monthly saving: RM350 | Annual saving: RM4,200
Malaysia operates a managed float exchange rate system, meaning the Ringgit floats freely in the market but Bank Negara Malaysia may intervene to prevent excessive volatility. The exchange rate is primarily determined by:
| Feature | Bank TT | Money Changer | Digital (Wise) |
|---|---|---|---|
| Typical spread | 1.5–3.0% | 0.5–1.5% | 0.3–0.6% |
| Transaction fee | RM10–RM50 | None | Flat fee (varies) |
| Typical total cost | High | Medium | Low |
| Suitable for | Large transfers, security | Cash (travel) | Online transfers |
| Speed | 1–3 business days | Instant (cash) | Same day to 2 days |
| Max amount limits | None (with docs) | May vary | Varies by product |
| BNM licensed | Yes | Licensed changers | Varies by provider |
| Best for | High-value transfers | Travel cash (SGD, USD, EUR) | Regular remittances |
| Currency | Mid-2025 (est.) | Strongest MYR | Weakest MYR | Key driver |
|---|---|---|---|---|
| USD | ~4.45–4.55 | ~3.80 (pegged era) | ~4.80 (2016 low) | Fed rate, oil price |
| SGD | ~3.35–3.45 | ~2.85 (2013) | ~3.50+ (2024) | Trade, tourism |
| EUR | ~4.80–4.95 | ~4.20 (2018) | ~5.20 (2022) | ECB policy |
| JPY | ~2.95–3.10/100JPY | ~2.40 (2023) | ~3.50 (pre-2020) | BOJ policy, yen carry |
| AUD | ~2.85–3.00 | ~2.60 (2016) | ~3.20 (2020) | Commodities, RBA |
| GBP | ~5.60–5.80 | ~4.80 (post-Brexit) | ~6.10 (2015) | UK economy, BoE |
Note: Historical ranges are approximate and for context only. Exchange rates fluctuate daily. Rates shown are approximate mid-market values — actual transaction rates will differ.
Bank Negara Malaysia publishes a daily indicative reference rate at around 3:30 PM on business days. This rate:
A practical rule of thumb: if a money changer or bank offers you more than 2% worse than the BNM reference rate for a major currency (USD, SGD, EUR), shop around — you can likely find better.
Licensed money changers in KL city centre
Best for: USD, SGD, EUR, AUD, GBP. Locations: Imbi Plaza, Berjaya Times Square, Sogo basement, Central Market. Compare rates between 2–3 changers for large amounts.
Licensed money changers in Penang
Competitive rates for SGD, AUD, JPY. Check changers around Gurney Plaza and Georgetown area.
Digital remittance (Wise, Merchantrade Money)
Best for: online transfers overseas. Close to mid-market rate with transparent fees. Register and verify identity in advance of your first transfer.
Airport money changers (KLIA, Penang, JB)
Avoid if possible — spreads are 2–4% wider than city centre changers. Use only for small emergency amounts.
Malaysian bank branches or online banking
Convenient for existing customers but typically 1.5–2.5% wider spread than money changers. Better for large, secure telegraphic transfers overseas.
Malaysia has exchange control rules under the Exchange Control Act 1953 (now administered under the Financial Services Act 2013). Key rules for individuals: