Currency in Kiribati: AUD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Kiribati with the Australian dollar.
What's in this Kiribati currency guide?
What currency is used in Kiribati?
The official currency of Kiribati (country code: KI) is the Australian dollar, with symbol A$ and currency code AUD.
What is a good Australian dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Australian dollar
Here are some key facts about the Australian Dollar (AUD) that are particularly useful for travelers, expats, and business owners:
- Currency Denominations: Australia's currency includes banknotes in $5, $10, $20, $50, and $100 denominations, and coins in 5, 10, 20, and 50 cents, as well as $1 and $2.
- Polymer Banknotes: Introduced in 1988, Australia was the first country to use polymer banknotes, making them more durable and resistant to counterfeiting.
- Goods and Services Tax (GST): A 10% GST is applied to most products and services in Australia.
- Currency Declaration: If bringing more than $10,000 AUD (or equivalent) into Australia, you must declare it upon arrival.
- Currency Conversion: Coins cannot be reconverted upon departure, so it's advisable to spend or exchange them before leaving.
- Tipping Practices: Tipping is not compulsory in Australia; however, a gratuity of 10-15% is appreciated in restaurants if service charges are not included.
- Currency Availability: ATMs are widely available in urban areas, but facilities may be limited in remote regions.
- Currency Exchange Fees: Be aware of potential fees when exchanging currency, especially at airports or hotels, and consider using authorized outlets for better rates.
For more detailed information, you can refer to the official Australian government website. (australia.com)
For more AUD information check out our selection of Australian dollar news and guides.
Frequently Asked Questions
What currency should I use in Kiribati?
The domestic currency in Kiribati is the Australian dollar.
What is the Australian dollar currency code and symbol?
The three letter currency code for the Australian dollar is AUD — symbol is A$.
What does the Australian dollar look like?
Here is an example Australian dollar banknote:
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?
What are equivalent amounts of USD and AUD?
Here are some popular conversion amounts for USD to AUD (US dollar to Australian dollar)*.
*Converted at the current USDAUD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Kiribati
Using Wise for Australian dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Australian dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Australian dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the AUD cash locally or even on travel day at the airport.
Kiribati: Travel Guide
Traveling to Kiribati requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
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).
Kiribati is an island country located in the Pacific Ocean. The country is made up of 33 atolls and reef islands, which are Spread over 3.5 million square kilometers. The capital city is South Tarawa.
Kiribati is a very mountainous country, with the highest point being Mount Royke on the island of Banaba. The climate is tropical and the country experiences large amounts of rainfall.
The population of Kiribati is just over 100,000, and the official languages are English and Gilbertese. The majority of the population is Roman Catholic.
Travelers to Kiribati can expect to find a friendly and welcoming population. The country is known for its beautiful beaches and clear waters, which make it a popular destination for snorkeling and diving. There are also many historical and cultural sites to explore.
Best things to do and see in Kiribati
- Visit Kiritimati (Christmas Island), the world’s largest coral atoll
- Take a dip in the 80 degree water of the lagoon
- Explore the mangrove-lined coastline
- Visit the WWII battlefields on Betio Island
- Spot turtles, rays, and colourful fish while snorkelling or diving
- Visit the capital city of Tarawa and explore the markets and museums
- Visit the small island of Nikumaroro and search for evidence of the lost city of Nan Madol
- Take a boat ride through the lagoon to spot dolphins, sharks, and whales
- Hike to the top of Tekabinema, Kiribati’s highest point
Top Travel tips for Kiribati
- English is Kiribati’s official language, but most natives also speak the local Gilbertese tongue.
- When travelling to Kiribati, it is important to pack light and plan ahead.
- Make sure to pack mosquito repellent, sunscreen, and hats.
- The best time to visit Kiribati is during the dry season, which runs from November to April.
- Be sure to have travel insurance when visiting Kiribati.
What's the best way to pay in Kiribati?
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.
Everyday Costs in in Kiribati
How much does it really cost to live, work, or travel in Kiribati? Here's what to expect for daily expenses and expat living.
Currency Guide for Kiribati (ISO Code: KI)
For travelers planning a one-week mid-range stay in Kiribati, you should budget around AUD 1,000 to AUD 1,200 (approximately AUD 140 to AUD 170 per day). Here’s a breakdown of typical daily expenses in the local currency, the Australian Dollar (AUD) or the Kiribati Dollar (AUD is widely accepted):
- 🍽️ Meal at a local restaurant: ~AUD 10-25
- ☕ Coffee: ~AUD 3-5
- 🚌 Public transport fare: ~AUD 2-3
- 📶 Prepaid SIM card: ~AUD 35-50
- 🏨 Budget hotel or Airbnb: ~AUD 50-100
Overall, Kiribati can be considered an average destination cost-wise compared to the US. For instance, while dining at a local restaurant in Kiribati might set you back around AUD 10-25, a similar meal in the United States can cost anywhere from AUD 20-40. Additionally, when compared to the UK, where dine-out expenses may exceed AUD 25-50, Kiribati offers a more affordable culinary experience for travelers.
Living Costs and Banking Tips for Expats in Kiribati
Expats settling in Kiribati should anticipate typical monthly living costs to range between AUD 1,500 to AUD 2,500, depending on individual lifestyle choices. Key expenses include accommodation (approximately AUD 600-1,000 for a modest apartment), utilities (AUD 100-200), groceries (AUD 300-500), and transportation (AUD 50-100).
When managing finances in Kiribati, it's advisable to use local banks for day-to-day transactions due to less prevalent card acceptance in some areas. While international credit and debit cards are accepted in major hotels and restaurants, cash remains king in local markets. For transferring money, using online services like Wise or OFX can often offer better rates than traditional banks; however, exchanging cash through local services can spare you coming out of pocket for hidden fees. Ideally, a combination of local currency and international transfer services will provide the best flexibility and value as an expatriate in Kiribati.
USD/AUD Market Data
The below interactive chart displays the USD/AUD change and UP📈 DOWN📉 trends over the past 1 Year.
Recent Australian dollar Market News
Recent Developments Affecting the AUD
1. RBA Monetary Policy Decisions
- The Reserve Bank of Australia (RBA) left interest rates unchanged in its latest meeting, signaling a cautious approach amid global economic uncertainties. RBA
2. Commodity Prices Fluctuation
- Recent declines in key commodity prices, particularly iron ore and coal, have impacted Australian export revenues, leading to downward pressure on the AUD. Bloomberg
3. China's Economic Data
- Weaker-than-expected economic data from China, Australia’s largest trading partner, has raised concerns about future demand for Australian goods, negatively affecting the AUD. Reuters
4. Global Risk Appetite
- Increased geopolitical tensions and rising global inflation have led to a flight to safety, causing the AUD to weaken as investors prefer safe-haven currencies like the USD. Financial Times
5. Australian Employment Figures
- A surprising decline in employment numbers last month may prompt concerns over economic growth, affecting market sentiment toward the AUD. The Sydney Morning Herald
Stay tuned for continuous updates as these factors evolve and impact the currency market.
For more AUD information read our News and guides to the Australian dollar.
Send Money to Kiribati - Best Rates
To get a good (and fair) exchange rate when sending money to Kiribati you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Australian dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- 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 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 dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Kiribati
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Australian dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the AUD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Australian dollar bank account: A local AUD bank account can make it easier for you to manage your finances and pay bills while you are in Kiribati. It may also be more convenient to use a local AUD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Kiribati. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Kiribati. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Kiribati, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Kiribati.
How is the cost of living in Kiribati?
The cost of living in Kiribati is quite high. staple foods such as rice, flour, and tinned fish are expensive, and most families cannot afford to eat meat or fresh vegetables on a regular basis. Gasoline and diesel are also very expensive, as the country does not have its own refinery. Housing costs are also high, as most houses are made of wood and thatched roofs, which are expensive to build and maintain.
How is the expat life in Kiribati?
There is a small expat community in Kiribati, but it is generally considered a safe and welcoming place for foreigners. The cost of living is quite high, however, due to the importation of most goods. There are a few international schools and medical facilities, but overall infrastructure is quite limited.
Any laws in Kiribati that foreigners should be aware of?
There are no specific laws in Kiribati that foreigners should be aware of. However, it is important to remember that Kiribati is a conservative country and visitors should dress and behave appropriately.
What is doing business like in Kiribati?
There is not much information available about doing business in Kiribati. From what is known, it appears that the country offers opportunities for businesses in the tourism, fishing, and agriculture industries. The government is reportedly supportive of foreign investment and is working to improve the business environment. However, businesses may face challenges due to the country's isolation, lack of infrastructure, and limited human resources.
How is the economy in Kiribati?
The economy of Kiribati is an island economy with limited natural resources. However, it is one of the world's least developed countries. The economy relies heavily on subsidies from Australia, New Zealand, Japan, and the United Kingdom.