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    Currency in Kiribati – Australian dollar AUD

    A practical foreign exchange and currency guide to Kiribati

     

    What currency is used in Kiribati?

    The official currency of Kiribati is the Australian dollar, with symbol A$ and currency code AUD.

     

    Things to know about the 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".

    Australians are more focussed on their currency exchange rate than are the citizens of most other countries, along with perhaps the British and Canadians. This is may be due to the open and trading nature of the Australian economy and also due to their love of 'overseas' travel.

    Aussie Ups and Downs 2011-20

    The Aussie is very volatile for a major currency, for example between 2008 and 2011, AUD rose 80 per cent against the US dollar, ultimately going up through parity at one point.

    Then during 2011-12 AUD started to track the Chinese economy much more than it tracked any of the traditional domestic economic and monetary indicators.

    From 2013 to 2015 it dropped against the US dollar, especially when the Chinese stock market sold off in 2015, followed by a decent cyclical 17 per cent rally in 2016-17.

    Then from early 2018 it again began its steady way down before being king-hit by the Covid pandemic flight to safety in March of 2020 which took AUD/USD all the way back to its 2008 lows to $60 cents.

     

    What the Australian dollar looks like?

     

     

     

    Australian dollar – Markets & Rates

    1 AUD = 0.6751 USD
    Sell AUD  →  Buy USD
    AUD to USD at 0.6751 is 2.8% above its 90-day average 0.6565 with range 0.6199-0.6902.
    |
      1 USD = 1.4813 AUD
     
    60-DAYHIGH1d
    4-DAY+2.2%1d


    CBA suggests the Aussie to move lower below US62¢. Economists had already recently cut their forecasts for the AUD to US66¢ by year-end, before improving back to US69¢ by mid next year.

    DateAUD/USDChangePeriod
    11 Nov 2022
    0.6703
    0.7% 2 Week
    27 Aug 2022
    0.6888
    2% 3 Month
    25 Nov 2021
    0.7173
    5.9% 1 Year
    26 Nov 2017
    0.7612
    11.3% 5 Year
    27 Nov 2012
    1.0458
    35.4% 10 Year
    30 Nov 2002
    0.5598
    20.6% 20 Year
    AUD/USD historic rates & change to 25-Nov-2022

     

     

    Compare Australian dollar Exchange Rates & Fees

    The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make a Transfer or Spend Australian dollar.

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    Travelling to Kiribati

    English is Kiribati’s official language, but most natives also speak the local Gilbertese tongue. You shouldn’t have a problem communicating wherever you go, although the farther you get from Tarawa and Christmas Island, the less English is used. Kiribati and the Islands use the Australian dollar; a major currency that can be exchanged anywhere. You can also change money at the Bank of Kiribati or ANZ bank on Tarawa or Christmas Island. Kiribati is a mostly cash-oriented country, though major cards are accepted in hotels and some shops. Traveler’s checks should be in Aussie dollars.

    Transportation: the only transportation are minivans. They don’t have timetables. They are run by private people who decide randomly the start and the end of the trip. Often they are full and for this reason they won’t stop to pick you up. Sometimes the engine breaks and you have to find another one. But in spite of all these problems they are ok. There are no taxis in the Gilbert Islands. The local transportation is carried out by Air Kiribati. There are regular flights to every island in the Gilbert group except for Banaba, price around 50 AUD one way three times a week for the near islands (until Kuria and Aranuka), and price around 100 – 150 AUD one way once a week for the further ones (for instance, Nonouti, Nikunau, Beru).

     

    The Australian dollar is also the domestic currency in 7 other countries.

     

     

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