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CNY/MYR Exchange Rate

CNY 1.00 = MYR Reference Mid-Rate       /
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Daily Currency Market Commentary
Daily currency news provided by OzForex

In the absence of any headline macro-economic data events major currency units maintained a relatively tight range throughout trade on Monday. The Greenback was forced marginally lower against higher yielding assets as expectations surrounding the timing of Federal Reserve rate hikes are revised outward. Expectations that the world’s largest central bank will raise interest rates in October 2015 have now fallen below 50% a dramatic reversal given 52% of futures traders estimated an adjustment in July as recently as October 3rd. The shift in Interest rate expectations comes on the back of a slowdown in global growth prospects and a dovish shift in Fed policy.
After a volatile week it seems markets have slipped into a quieter start to this trading week ahead of US inflation data and European Manufacturing numbers due Wednesday and Thursday. Markets will be seeking any signs of growth within the Eurozone after the European Central Bank announced it will now be covering bonds in a bid to keep deflation at bay as the German economy approaches recession with little to no growth forecast for the 3rd and 4th quarters of 2014. Attentions today turn to Chinese GDP reports with markets looking for any hint the world’s second largest economy can maintain current growth levels.
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Why is it that when I go into a currency vendor to send money I never get the rate on the news?

You may well think that you are being ripped off, but it is not always the case. In simple terms what you see on the news or in the paper or on yahoo finance is the Middle Rate or mid-rate. Some people want to buy a currency and some people want to sell a currency and there is a gap (or margin) between the price at which you buy and the price at which you sell. ⇒ read article

What makes sending money internationally so expensive?

There are a number of cost components to making and receiving international payments, most of which are far from transparent to customers: Currency fees, Transit fees, Correspondent bank fees etc ⇒ read article

BestExchangeRates in the Money

“A check with the foreign-exchange comparison website shows a big variation in the exchange rates available when sending money and buying cash.” ⇒ read article

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