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Cocos Keeling Islands - Australian Dollar - Currency Guide

 

Foreign exchange guide to the Cocos Keeling Islands and the Australian Dollar (AUD)

   

General Currency Info - Australian Dollar

The Australian dollar is the fifth most traded currency in the world and is popular with currency traders, because of the high interest rates in Australia, the freedom of the foreign exchange market from government intervention, the stability of Australia's economy and political system, and the view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.

The currency is commonly referred to by foreign-exchange traders as the "Aussie dollar".

   

AUD News, Forecasts and Trends

Westpac have raised their forecast for the Aussie dollar to US 72 cents by the end of 2020 (from US 68 cents) and rising to US 76 cents in 2021.

In the second quarter of 2020 AUD staged a rapid recovery through the months of April, May and into June up 25% from its mid-March lows to US70c in early June. This is due more to the perceived benefits to Australia of an awakening post-pandemic Chinese economy than the political-social situtation in the US dpressing the USD.

The Aussie had been savaged in March sliding to US55 cents the lowest since 2003. Growing fears of the coronavirus outbreak moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.

The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year.

The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.

The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.

For more AUD currency market forecasts you can read the full article Australian Dollar Forecasts. The below interactive chart shows the USD to AUD exchange rate, trend and recent alerts for the last 90 days.

   
Recent USD to AUD 90-day trend
 
ALERT:14-DAY LOWS |
USD/AUD at 1.4399 was trading 6.2% below AVG:1.5348 with LO:1.4243 and HI:1.7262 (90 days). ALERT: USD/AUD dropped to 14-DAY LOWS.

US Dollar to Australian Dollar - Historical Rates

USD/AUD historic rateChange to 03-JulPeriod
1.4570  26 Jun 20201.2% ▼1 Week
1.4436  03 Jun 20200.3% ▼30 Days
1.6678  04 Apr 202013.7% ▼90 Days
1.4236  04 Jul 20191.1% ▲1 Year
1.3355  05 Jul 20157.8% ▲5 Years
1.1741  06 Jul 201022.6% ▲10 Years
USD/AUD 10 year historic rates & changes to 03-Jul-2020 : 1.4399
 

U$1,000 USD
=
A$1,440 AUD

Converted at USD/AUD wholesale exchange rate, compare foreign transfer and spend/travel exchange rates.

 
 

US Dollar to Australian Dollar - Quick Conversions

USD AUD
U$ 1 A$ 1.4399
U$ 5 A$ 7.1995
U$ 10 A$ 14.40
U$ 20 A$ 28.80
U$ 50 A$ 72.00
U$ 100 A$ 143.99
U$ 250 A$ 359.98
U$ 500 A$ 719.95
U$ 1,000 A$ 1,440
U$ 2,000 A$ 2,880
U$ 5,000 A$ 7,200
U$ 10,000 A$ 14,399
U$ 50,000 A$ 71,995
U$ 100,000 A$ 143,990
More amounts
USD AUD
U$ 0.6945 A$ 1
U$ 3.4725 A$ 5
U$ 6.9450 A$ 10
U$ 13.89 A$ 20
U$ 34.73 A$ 50
U$ 69.45 A$ 100
U$ 173.63 A$ 250
U$ 347.25 A$ 500
U$ 694.50 A$ 1,000
U$ 1,389 A$ 2,000
U$ 3,473 A$ 5,000
U$ 6,945 A$ 10,000
U$ 34,725 A$ 50,000
U$ 69,450 A$ 100,000
More amounts

Frequently Asked Questions

 

What currency should I use in the Cocos Keeling Islands?

The domestic currency in the Cocos Keeling Islands is the Australian Dollar.

What is the Australian Dollar currency code and symbol?

The three letter currency code for the Australian Dollar is AUD — symbol is A$.

Which countries use the Australian Dollar?

It is the domestic currency in    Australia,   Christmas Island,   Cocos Keeling Islands,   Heard and McDonald Islands,   Kiribati,   Nauru,   Norfolk Island and Tuvalu.

Is the Australian Dollar a closed currency?

No, the Australian Dollar is freely available and convertible. See guide: What is a closed currency?

 

Travel, Currency and Money saving tips for the Cocos Keeling Islands

Travel money for the Cocos Keeling Islands

Save money and time by Ordering your Australian Dollars online from Travelex, you get better rates and can pick up the AUD cash locally or even on travel day at the airport.

Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.

For card purchases if offered a choice of currencies always select to Pay in Australian Dollars otherwise you may get much worst exchange rates.

 
 

USD to AUD - Travel Money & Cards

Provider ReviewAmount AUD(A$)Exchange RateFee USDDeal Links
TransferWise
> Best Overall
A$1,411.21
1.99%
1.4327U$15.00
U.S. Bank logo
U.S. Bank
A$1,347.8
6.4%
A$63 less
1.34780
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
A$1,334
7.33%
A$77 less
1.347815
Wells Fargo Bank logo
Wells Fargo Bank
A$1,320.84
8.27%
A$90 less
1.3478U$20
Travelex Online
A$1,269.5
11.83%
1.26950^
TransferWise
 
loading
TransferWise: Travel Money USD→AUD
From Amount (USD)U$1,000
Fee:U$15.00 USD (1.5%)
Exchange Rate:1.4327 (-0.5% from mid-rate)
To Amount (AUD) A$1,411.21
Total Cost:1.99%
Time:1:29 Local
Currency Services:Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:5-7 days
Rating:
 
: 4.6/5.0
Review:


U.S. Bank
 
loading
U.S. Bank: Travel Money USD→AUD
From Amount (USD)U$1,000
Fee:0
Exchange Rate:1.3478 (-6.4% from mid-rate)
To Amount (AUD) A$1,347.8
Total Cost:6.4%
Time:1:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Banks - Average Rate
 
loading
Travel Money USD→AUD
From Amount (USD)U$1,000
Fee:15
Exchange Rate:1.2599 (-12.5% from mid-rate)
To Amount (AUD) A$1,334
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-


Wells Fargo Bank
 
loading
Wells Fargo Bank: Travel Money USD→AUD
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:1.3478 (-6.4% from mid-rate)
To Amount (AUD) A$1,320.84
Total Cost:8.27%
Time:1:29 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Review:


Travelex Online
 
loading
Travelex Online: Travel Money USD→AUD
From Amount (USD)U$1,000
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:1.2695 (-11.83% from mid-rate)
To Amount (AUD) A$1,269.5
Total Cost:11.83%
Time:
Rate Fetched: Sat Jul 04 2020 01:15:03 GMT+0000 (UTC)
Currency Services:FREE Home delivery & Branch pickup
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Review:


 
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Snapshot 07/04/2020 - View live rates

Sending money to the Cocos Keeling Islands

When searching around for information on how to get a good exchange rate when sending money to the Cocos Keeling Islands you need to start with finding out the latest Australian Dollar exchange rate for foreign-transfers, which can be very different to the wholesale rate.

Then compare your bank's exchange rates to several licensed FX providers exchange rate and fees to see how much you can save - we make that calculation easy in the below table.

 

USD to AUD International Money Transfers

Provider ReviewReceive AUD(A$)Exchange RateFee USDDeal Links
OFX
> Best Overall
A$1,428.4
0.8%
1.42840^
XE
A$1,418.3
1.5%
1.41830
HSBC logo
HSBC
A$1,381.13
4.08%
A$47 less
1.3832U$1.50
U.S. Bank logo
U.S. Bank
A$1,377.6
4.33%
A$51 less
1.37760
Bank of America logo
Bank of America
A$1,356.94
5.76%
A$71 less
1.3776U$15
Wells Fargo Bank logo
Wells Fargo Bank
A$1,356.91
5.76%
A$71 less
1.3846U$20
Banks - Average Rate
U.S. Bank logo Bank of America logo HSBC logo Wells Fargo Bank logo
A$1,368
4.98%
A$60 less
1.380815
OFX
 
loading
OFX: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:1.4284 (0.8% from mid-rate)
To Amount (AUD) A$1,428.4
Total Cost:0.8%
Time:
Rate Fetched: 1:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Review:


Compare OFX Rates
XE
 
loading
XE: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:
Exchange Rate:1.4183 (1.5% from mid-rate)
To Amount (AUD) A$1,418.3
Total Cost:1.5%
Time:1:29 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Speak to Dealers
Rating:
 
: 3.5/5.0
Review:


Compare XE Rates
HSBC
 
loading
HSBC: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:U$1.50 USD (.15%)
Exchange Rate:1.3832 (3.94% from mid-rate)
To Amount (AUD) A$1,381.13
Total Cost:4.08%
Difference:
A$47 AUD less than using OFX
Time:1:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare HSBC Rates
U.S. Bank
 
loading
U.S. Bank: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:0
Exchange Rate:1.3776 (4.33% from mid-rate)
To Amount (AUD) A$1,377.6
Total Cost:4.33%
Difference:
A$51 AUD less than using OFX
Time:1:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare U.S. Bank Rates
Bank of America
 
loading
Bank of America: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:U$15 USD (Minimum fee)
Exchange Rate:1.3776 (4.33% from mid-rate)
To Amount (AUD) A$1,356.94
Total Cost:5.76%
Difference:
A$71 AUD less than using OFX
Time:1:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Bank of America Rates
Wells Fargo Bank
 
loading
Wells Fargo Bank: Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:U$20 USD (Minimum fee)
Exchange Rate:1.3846 (3.84% from mid-rate)
To Amount (AUD) A$1,356.91
Total Cost:5.76%
Difference:
A$71 AUD less than using OFX
Time:1:29 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Review:


Compare Wells Fargo Bank Rates
Banks - Average Rate
 
loading
Foreign Transfer USD→AUD
From Amount (USD)U$1,000
Fee:15
Exchange Rate:1.3748 (4.52% from mid-rate)
To Amount (AUD) A$1,368
Total Cost:4.98%
Difference:
A$60 AUD less than using OFX
Transfer Speed:
Services:


 
loading
Snapshot 07/04/2020 - View live rates

Get a better deal for foreign transfers to the Cocos Keeling Islands

When sending money to the Cocos Keeling Islands it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :

  1. Open an account with a BER reviewed FX provider (id docs may be required)
  2. You specify the local or Australian Dollar amount you want to transfer
  3. Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
  4. Once your funds are received by the provider the converted AUD amount will be transfered to the recipient account you specify in the Cocos Keeling Islands.

Use the above Send to Australian Dollars calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Australian Dollars deposited into the recipient bank account and less margins and fees kept by the banks!


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