Currency in Nauru: AUD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Nauru with the Australian dollar.
What's in this Nauru currency guide?
What currency is used in Nauru?
The official currency of Nauru (country code: NR) 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 $10,000 AUD (or equivalent) into Australia, you must declare it upon arrival.
- Currency Conversion: Coins cannot be reconverted upon departure, so it's advisable to spend or exchange them before leaving.
- Tipping Practices: Tipping is not compulsory in Australia; however, a gratuity of 10-15% is appreciated in restaurants if service charges are not included.
- Currency Availability: ATMs are widely available in urban areas, but facilities may be limited in remote regions.
- Currency Exchange Fees: Be aware of potential fees when exchanging currency, especially at airports or hotels, and consider using authorized outlets for better rates.
For more detailed information, you can refer to the official Australian government website. (australia.com)
For more AUD information check out our selection of Australian dollar news and guides.
Frequently Asked Questions
What currency should I use in Nauru?
The domestic currency in Nauru is the Australian dollar.
What is the Australian dollar currency code and symbol?
The three letter currency code for the Australian dollar is AUD — symbol is A$.
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 Nauru
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.
Nauru: Travel Guide
Traveling to Nauru 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.
Nauru is an island country in the eastern South Pacific Ocean. The island is just 21 kilometers square, making it one of the smallest countries in the world. Nauru is surrounded by a coral reef, and there are several phosphate mines on the island. The country has a tropical climate, with average temperatures ranging from 26 to 32 degrees Celsius. The local language is Nauruan, but English is also widely spoken.
Best things to do and see in Nauru
There are many things to do and see in Nauru. The most popular activities include exploring the island, swimming in the lagoon, hiking up the island's volcanic crater, and visiting the local markets. There are also a number of museums and historical sites on the island that are worth visiting.
Top Travel tips for Nauru
There are a few things to keep in mind when travelling to Nauru:
1. Bring plenty of cash, as there are few ATMs on the island.
2. If you're planning on doing any diving, be sure to bring your own equipment as there is none available for rental on the island.
3. Nauru is a very remote island, so be prepared for limited amenities and attractions.
4. There is no public transportation on the island, so you'll need to either rent a car or use bicycles to get around.
5. Be aware that Internet and phone coverage is very limited on Nauru.
Is it safe in Nauru?
There is no definitive answer to this question as the level of safety in Nauru can vary depending on the current situation. However, it is generally considered to be a safe place to travel and live.
Everyday Costs in in Nauru
How much does it really cost to live, work, or travel in Nauru? Here's what to expect for daily expenses and expat living.
Currency Guide for Nauru (ISO Code: NR)
Traveling to Nauru offers a unique opportunity to explore a beautiful island nation with a distinct culture and stunning natural landscapes. For a one-week mid-range stay, a traveler should budget approximately AUD 1,200 to AUD 1,500 (about USD 800 to USD 1,000) to cover accommodations, meals, and activities. Here’s a glimpse of typical daily expenses in the local currency, the Australian Dollar (AUD):
- Meal at a local restaurant: 🍽️ AUD 15–30
- Coffee: ☕ AUD 4–5
- Public transport fare: 🚌 AUD 5
- Prepaid SIM card: 📱 AUD 20–40
- Budget hotel or Airbnb: 🏨 AUD 80–150 per night
Overall, Nauru presents an average cost of living for visitors. While daily expenses are comparatively lower than those in the United States, where a meal can cost around USD 20–40, dining and accommodation costs in Nauru are similar to Australia's coastal cities but are more affordable than in the United Kingdom, where a similar experience could easily double the expenses.
Expat Life in Nauru
For expats considering a move to Nauru, the typical monthly living costs in AUD can range from 2,000 to 3,500, depending on lifestyle choices and family size. Basic expenses, including housing, groceries, and transportation, are relatively reasonable compared to larger urban centers. When it comes to banking and card usage, it’s advisable to use local banks, which often provide better exchange rates than foreign banks. International debit and credit cards are widely accepted, but carrying cash for smaller vendors and local markets is essential.
Regarding money transfers, utilizing online services like Wise or OFX can be more beneficial for expats than exchanging cash locally due to their competitive rates and lower transaction fees. This ensures that you avoid the often unfavorable rates at local exchange counters.
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 Nauru - Best Rates
To get a good (and fair) exchange rate when sending money to Nauru 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 Nauru
When sending money to Nauru 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 Nauru.
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 Nauru
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 Nauru. 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 Nauru. 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 Nauru. 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 Nauru, 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 Nauru.
What is the cost of living in Nauru?
There is no definitive answer to this question as the cost of living in Nauru can vary depending on a number of factors, including lifestyle and individual spending habits. However, according to Numbeo, the cost of living in Nauru is 9.86% lower than in the United States, and the average cost of a meal in Nauru is $12.50.
How is the expat life in Nauru?
There is no real expat community in Nauru, as there are only a handful of foreigners living on the island. Most foreigners are employed by the government or by international organizations. Life on the island is very laid-back and relaxed, and expats generally find the locals to be friendly and welcoming. However, there are some challenges to living in Nauru, such as the limited range of goods and services available, and the lack of nightlife and entertainment options.
Any laws in Nauru that foreigners should be aware of?
Nauru does not have many laws that foreigners need to be aware of. However, it is important to note that the importation of drugs, firearms, and ammunition is strictly prohibited. Additionally, it is illegal to engage in any type of sexual activity with a person under the age of 18.
What is doing business like in Nauru?
The cost of living in Nauru is high, as the country imports most of its goods. Starting a business can be expensive, as businesses need to be registered with the government and there are significant costs associated with doing so. However, once a business is up and running, it can be profitable. The economy of Nauru is largely driven by phosphate mining. The country has few natural resources and relies heavily on imports.
How is the economy in Nauru?
The economy in Nauru is in a state of flux. The country has been heavily dependent on phosphate mining, but phosphate deposits are now exhausted. The government is trying to encourage other economic activity, such as tourism, but progress has been slow. unemployment is high, and many people live in poverty.