Kiribati - Australian Dollar - Currency Guide

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.

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

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

Travel, Currency and Money saving tips for 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).

Travel money for Kiribati

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

U$1,000 U.S. dollar USD → Australian dollar AUD

Provider Review	Amount AUD(A$)	Exchange Rate	Fee USD	Deal Links
TransferWise > Best Overall	A$1,411.21 1.99%	1.4327	U$15.00	Visit Site
U.S. Bank	A$1,347.8 6.4% A$63 less	1.3478	0
Banks - Average Rate	A$1,334 7.33% A$77 less	1.3478	15
Wells Fargo Bank	A$1,320.84 8.27% A$90 less	1.3478	U$20
Travelex Online	A$1,269.5 11.83%	1.2695	0^	Visit Site

TransferWise

 

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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:	2:29 Local
Currency Services:	Multi-currency debit card with linked foreign bank accounts
Delivery/Collect:	5-7 days
Rating:	: 4.6/5.0
Review:	4 Reviews

Visit TransferWise

U.S. Bank

 

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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:	2:29 Local
Currency Services:	Branch
Delivery/Collect:	-
Rating:	: /5.0
Review:

Banks - Average Rate

 

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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

 

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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:	2:29 Local
Currency Services:	Branch
Delivery/Collect:	-
Rating:	: /5.0
Review:

Travelex Online

 

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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 02:15:03 GMT+0000 (UTC)
Currency Services:	FREE Home delivery & Branch pickup
Delivery/Collect:	2-3 days
Rating:	: 4.3/5.0
Review:	13 Reviews

Visit Travelex Online

 

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Snapshot 07/04/2020 - View live rates

Sending money to Kiribati

When searching around for information on how to get a good exchange rate when sending money to Kiribati 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

Send U$1,000 U.S. dollar USD → Australian dollar AUD

Provider Review	Receive AUD(A$)	Exchange Rate	Fee USD	Deal Links
OFX > Best Overall	A$1,428.4 0.8%	1.4284	0^	Visit Site
XE	A$1,418.3 1.5%	1.4183	0	Visit Site
HSBC	A$1,381.13 4.08% A$47 less	1.3832	U$1.50	Compare HSBC Rates
U.S. Bank	A$1,377.6 4.33% A$51 less	1.3776	0	Compare U.S. Bank Rates
Bank of America	A$1,356.94 5.76% A$71 less	1.3776	U$15	Compare Bank of America Rates
Wells Fargo Bank	A$1,356.91 5.76% A$71 less	1.3846	U$20	Compare Wells Fargo Bank Rates
Banks - Average Rate	A$1,368 4.98% A$60 less	1.3808	15

OFX

 

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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: 2:29 Local
Transfer Speed:	1-2 days
Services:	Bank Transfers - Online & Phone, Speak to Dealers, Foreign Currency Accounts
Rating:	: 4.8/5.0
Review:	20 Reviews

Compare OFX Rates

Visit OFX

XE

 

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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:	2:29 Local
Transfer Speed:	1-2 days
Services:	Bank Transfers - Online & Phone, Speak to Dealers
Rating:	: 3.5/5.0
Review:	1 Review

Compare XE Rates

Visit XE

HSBC

 

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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:	2:29 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Review:

Compare HSBC Rates

U.S. Bank

 

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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:	2:29 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Review:

Compare U.S. Bank Rates

Bank of America

 

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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:	2:29 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Review:

Compare Bank of America Rates

Wells Fargo Bank

 

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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:	2:29 Local
Transfer Speed:	2-3 days
Services:	Online, Branch, Bank Transfers
Rating:	: /5.0
Review:

Compare Wells Fargo Bank Rates

Banks - Average Rate

 

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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:

 

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Snapshot 07/04/2020 - View live rates

Get a better deal for foreign transfers to Kiribati

When sending money to Kiribati 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 Kiribati.

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!