Convert EUR to MYR - Euro to Malaysian ringgit Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE EUR/MYR EXCHANGE RATE
The EUR/MYR currency pair trades the Euro against the Malaysian ringgit, an interesting pair that is influenced by two of the leading markets - European and Asian. While the EUR reflects developments in the developed European markets, the MYR sees changes whenever developing Asian markets experience significant upheaval.In addition to developments in the European and Asian economies, the EUR/MYR exchange rate also sees significant movement on the release of key economic data, including GDP, inflation, trade balance, CPI, employment, business confidence and consumer consumption. Changes to the monetary policy or interest rates by the European Central Bank (ECB) or the Bank Negara Malaysia also drive price action in this currency pair.The EUR/MYR forex pair is also impacted by developments in China, a key trade partner for Malaysia. Any data that could hamper the trade relationship between the two countries weakens the MYR and turns this pair bullish, and vice versa. The economy of Malaysia is heavily dependent on international trade, and as a result, the MYR experiences significant volatility whenever external demand is affected, e.g. during the global financial crisis back in 2008-09. On the other hand, the EUR is considered a stable currency that traders turn to as a reserve currency, similar to the US dollar.
EUR to MYR CONVERSION RATES
EUR
MYR
<% amount * currencies.converter.rate |toFixed: 4 %> MYR
MYR
EUR
<% amount / currencies.converter.rate |toFixed: 4 %> EUR
EUR to MYR CHARTS
EUR/MYR Live Chart
EUR/MYR Historical Chart
EUR to MYR EXCHANGE RATE - FAQ
What other instruments are EUR/MYR correlated with?

The EUR/MYR currency pair has a positive correlation with USD/MYR as both the USD and the EUR are considered reserve currencies. In addition, the MYR is closely correlated with commodities such as crude oil and natural gas, which makes EUR/MYR share a negative correlation with crude oil.

What was the lowest exchange rate for EUR/MYR this year?

EUR/MYR dipped to a low 4.4744 on 28 January 2020. This was the weakest level this forex pair touched so far this year.

How volatile is the EUR/MYR currency pair?

The EUR/MYR currency pair experiences quite a bit of volatility as the Malaysian ringgit is an emerging market currency, and sees significant changes in value depending on several external factors.