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Best AUD to MYR exchange rates

Best AUD > MYR exchange rates as of Apr 24, 2019

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If you’re a forex investor or simply looking to trade Australian dollars for Malaysian ringgits, get the most for your money with a strong exchange rate.

Today’s mid-market rate

The mid-market Australian dollar–to–Malaysia ringgit exchange rate is 1 AUD = 3.38 MYR. (Rate accurate as of March 4, 2017.)

How does the Australian dollar trade against the Malaysian ringgit historically?

The Australian dollar was introduced in 1966 to replace the Australian pound. At the time, the dollar was maintained under the Bretton Woods system. Under this agreement, most currencies were pegged to the price of gold, but the Australian dollar was effectively pegged to the British pound. The Australian dollar at the time of its launch was 0.8 per 1 British pound.

The Malaysian ringgit (unofficially, the Malaysian dollar) was introduced in 1967, a year after the Australian dollar’s introduction, and replaced the Malaya and British Borneo dollar. At the time, Malaysia was a participating member of the sterling area — like the Australian dollar — and its new currency was originally valued at 8.57 per British pound.

In 1997, a financial crisis erupted in Asia. The Aussie dollar strengthened and went from 2.079857 per ringgit in 1997 to 3.05344 per ringgit in 2005. With government corruption and the election of Prime Minister Najib Razak in 2009, the ringgit has remained consistently weak against the Australian dollar — between 2.8 to 3.3 ringgits per Aussie dollar.

AUD > MYR exchange rate history

We’ve put together the annual average exchange rate for the Australian dollar against the Malaysian ringgit from 2007 to 2016.

2016201520142013201220112010200920082007
AUD = MYR3.0801782.9292632.9521793.0443933.1974353.1583132.9586352.8247352.8298652.87401

Here’s the monthly average exchange rate for the Australian dollar over the past 12 months.

MonthAUD = MYR
Feb. 20173.406757
Jan. 20173.321028
Dec. 20163.272345
Nov. 20163.269845
Oct. 20163.179805
Sept. 20163.111859
Aug. 20163.069444
July 20163.024498
June 20163.013961
May 20162.956378
April 20162.987785
March 20163.048553

What affects AUD > MYR exchange rates?

There are five factors that affect how the Australian dollar trades with the Malaysian ringgit: the country’s GDP, retail sales, industrial production, relative inflation rates and trade balances.

Less aggressive factors are consumer confidence, the strength of other currencies, investor speculation and day-to-day news about natural disasters, elections and new government policies.

Compare today’s rates from providers who can send AUD to MYR

I want to send

to

Min. Transfer Amount Transfer Speed Online Transfer Fee Rate Amount Received Description CTA Details
USD 1 1 - 2 days AUD 0.00 2.885 MYR
14,423
Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks. Go to site Show details
USD 1 Within an hour AUD 0.00 2.846 MYR 14,228 Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up. Go to site Show details
USD 1,000 1 day AUD 0.00 2.856 MYR 14,278 No-maximum limit transfers with competitive exchange rates for 100+ currencies. Go to site Show details
USD 50 1 - 2 days AUD 0.00 2.835 MYR 14,177 Simple, zero-margin exchange rates, plus earn loyalty points on sign up, referral and every transaction. Go to site Show details

Compare up to 4 providers

Bottom line

When exchanging Australian dollars for Malaysian ringgits, find a provider that offers two-sided quotes to understand the spread they charge. If they show you only the buy or sell rate — but not both — consider looking elsewhere. Ultimately, the closer you can get to the mid-market rate, the better the deal.

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US International Money Transfers Offers

Important Information*
XE Money Transfer

Transfer up to $500,000 with no minimums and no fees.

WorldRemit International Money Transfers

Use promo code 3FREE to send your first 3 transfers with no fee. Send to 110+ countries for bank-to-bank deposit, cash pickup or mobile top-up.

TransferWise

Enjoy high maximum transfers into more than 20 currencies while saving up to 90% over local banks.

CurrencyTransfer

Exclusive: Minimum transfer of $1,000 for Finder readers (normally $5,000).
For larger transfers, get no transaction fees and no maximum send limits.

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