Multi-Vendor Quote
If you are sending a Large Foreign Transfer (over $50K AUD), enter the details to get multiple vendors competing for your business.
Save time and money – fewer websites to visit and you get a much better exchange rate & service.
Popular guides
Currency Forecasts
Australian dollar
In early August the Australian dollar sunk to a 10 year low of 67¢ (Aug-7) to the US dollar. This was due to the offshore yuan breaking the symbolic and closely watched USD/CNY = 7.0 exchange rate, after the trade war flared up again and the US labelled China a "currency manipulator".
Investors have sold AUD in recent months as they’ve bet on aggressive interest-rate cuts by the Reserve Bank of Australia. These bets paid off: the RBA cut its cash rate in both June and July to a record low of 1 percent.
Lower borrowing costs are necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end.
AUD will continue to track changes in interest-rate expectations. Economists expect at least one further cut this year and many expect two by early 2020. After July's cut, the RBA hinted it would leave rates unchanged for several months.
Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.
Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.
For AUD forecasts and predictions read our Australian Dollar Forecasts report.
More Forecasts
AUD in the News
AUD/GBP Between a Rock and a Hard Place – USD Strength
Both the Australian dollar and British pound sterling have had a hard time of late caught between the rock of the China/US trade war and the Brexit hard place.
27 Aug, 2019 by
Australia Cuts Interest Rates to Record Low
The RBA has cut Australian interest rates to a record low of 1 percent in an effort to boost inflation. The Australian dollar is slightly stronger following the widely expected decision but is expected to lose 5–7 percent of its value before year-end.
14 Aug, 2019 by
Latest Fintech News & Reviews
City Guides – Best Exchange Rates by Location