Maybank Exchange Rate Calculator
* Rates used in this calculator are illustrative based on recent averages. For exact live rates, please refer to the Maybank2u portal or a Maybank branch.
Understanding Maybank Currency Exchange Rates
When dealing with Maybank exchange rates, it is crucial to understand that the bank provides two primary types of rates: Telegraphic Transfer (TT) and Notes (Cash). This calculator helps you estimate your costs when converting MYR to foreign currencies or vice versa.
1. Bank Sells vs. Bank Buys
A common point of confusion is the direction of the trade. Always view the transaction from the bank's perspective:
- Bank Sells (Selling Rate): Use this if you want to buy foreign currency (e.g., you are going on a holiday to London and need GBP). You are buying from Maybank, so Maybank is "Selling".
- Bank Buys (Buying Rate): Use this if you have foreign currency and want to change it back to MYR. Maybank is "Buying" the currency from you.
2. What is the Spread?
The "Spread" is the difference between the market mid-rate and the rate Maybank offers. This is essentially the bank's profit margin and service cost. Maybank's TT rates usually offer a better spread (closer to market rate) compared to physical cash notes rates due to the lower handling costs of digital transfers.
Common Maybank Currency Pairs Example Table
| Currency Pair | Typical TT Buy | Typical TT Sell |
|---|---|---|
| MYR / USD | 4.7150 | 4.7850 |
| MYR / SGD | 3.5020 | 3.5480 |
| MYR / GBP | 5.9800 | 6.0900 |
How to Save on Fees
If you are a frequent traveler or investor, using the Maybank Multi-Currency Account or the MAE card can often provide more competitive rates and lower transaction fees compared to over-the-counter cash exchanges at physical branches.
Example Calculation
If you wish to buy 1,000 USD and the "Bank Sells" rate is 4.7850, the calculation would be:
1,000 USD × 4.7850 = 4,785.00 MYR.
If you have 1,000 USD and want to convert back to MYR at a "Bank Buys" rate of 4.7150:
1,000 USD × 4.7150 = 4,715.00 MYR.