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Foreign Exchange Guide to Australia

Read this currency guide to Australia with money transfer and travel tips.   [USD/AUD=1.3932]

 
Australia
Country Code:
AU
Domestic Currency:
Australian Dollar
Symbol - Code:
$ AUD
Telephone Prefix:
+61

This is a foreign exchange guide to Australia, the Australian Dollar currency plus AUD transfers and travel tips.


In this Australia currency guide we take a look at :

  1. Australian Dollar info - general info about the Australian Dollar
  2. Australian Dollar in the markets - recent AUD moves and predictions from the FX markets
  3. Travelling in Australia - currency & money saving tips
  4. Buying Australian Dollar cash online - travel money for Australia
  5. Sending money to Australia - save on Australian Dollar bank transfers to Australia
  6. Australian Dollar exchange rates - latest & historic exchange rates.
  7. AUD News - the latest Australian Dollar related articles from our blog.

Australian Dollar (AUD) general currency information


What is the Australian Dollar currency code and symbol?

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


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.

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".


Australian Dollar (AUD) in the markets

11-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.

By the time of this report, AUD/USD was back above $0.72 and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.

At current levels the Aussie “is very undervalued” versus the US dollar, a CIBC analyst said in late December; it was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. In the second half of 2019, the Aussie could be quoted as high as $0.78, the analyst said — 8 percent higher than rates at the time of writing.

For AUD/NZD, TD Securities expects near-term appreciation from NZ$1.05 to NZ$1.1.

Against other major currencies, the Aussie’s outlook is less optimistic. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.

The interactive chart below shows the USD to AUD exchange rate for the previous 3 months with rate alerts for days when the exchange rate moved up or down significantly or for 30 day highs and lows.


USD-AUD 3 Month chart
USD-AUD 3 Month chart
USDAUD currency converter

Travel, Currency and Money saving tips for Australia

 

Travel tips for Australia.

The classic error first-time visitors make is trying to 'do' Australia in two or three weeks, forgetting that it's a continent as well as a country. It's far better to pick two or three areas to tackle well than attempt to tick off the highlights in one visit. Otherwise, most of the visit is spent in transit. Not only are the gaps between major cities bigger than they are in Europe or the US – there are generally far fewer small towns between them. This delineation between urban and bush is massively to Australia's credit. Once out of the city, it feels like you're in the wild.

Australia has a Goods and Services Tax (GST) of 10 per cent. You may be able to claim a refund for the GST paid on goods if you have spent AUD$300 or more with a single business, no more than 60 days before departing Australia. Tourist Refund Scheme facilities are located in the departure area of international terminals.

There are no limits on the amount of currency that can be brought in or out of Australia, but travellers must declare hard currency equivalent to AUD10,000 or higher. Australia is not usually considered a budget destination, in fact Sydney and Melbourne are consistently ranked as two of the world’s most expensive cities but if you're careful with your spending it’s still possible to make your money go a long way, especially when the Australian Dollar is weaker.

Hotels and restaurants do not add service charges to your bill, and tipping is always your choice. In upmarket restaurants, it is common to tip waiters 10 percent of the bill for good service. Americans, in particular, struggle to grasp the absolutely impeccable Australian tipping system. Basically, you tip if you want to, but nobody particularly expects you to or pressures you to.

Do I need a Visa for Australia?

Most nationalities will need to get a visa before you travel. Beware of scam adverts claiming to help you extend a working holiday visa. Several British nationals have had their visas cancelled as a result. If you're a Singaporean national, there's good news in relation to visas which is that from January 2018 a new, long-term, multiple entry visa will be available. This will allow Singaporeans to stay for up to three months at a time over a six year period.

 

Travel money for Australia

 

Save money and time by Ordering your Australian Dollar 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 Dollar otherwise you may get much worst exchange rates.

 

Travel Money - Exchange Rate Comparison

Travel Money Providers
Ratings & Reviews
Amount AUD($)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
Wells Fargo Bank logo
1,304.18 AUD
Value & Rating
1.3308$206.38%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,304 AUD
$0.18 less
1.3174$106.39%Branch-
U.S. Bank
U.S. Bank logo
1,303.9 AUD
$0.28 less
1.303906.4%Branch-
 
Travelex Online US logo
1,250.4 AUD
$54 less
1.25040^10.24%Online order, Branch pickup, Home delivery2-3 days
Wells Fargo Bank: Travel Money USD→AUD
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.3308 (4.47% from mid-rate)
AUD amount:1,304.18 AUD
Total Cost:6.38%
Time:18:07 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo

Travel Money USD→AUD
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.2189 (12.5% from mid-rate)
AUD amount:1,304 AUD
Total Cost:6.39%
Currency Services:Branch
Delivery/Collect:-
U.S. Bank: Travel Money USD→AUD
USD amount:$1,000 USD
Fee:0
Exchange Rate:1.3039 (6.4% from mid-rate)
AUD amount:1,303.9 AUD
Total Cost:6.4%
Time:18:07 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
Travelex Online US: Travel Money USD→AUD
USD amount:$1,000 USD
Fee:$0 - No fees for Debit & Credit Cards
Exchange Rate:1.2504 (10.24% from mid-rate)
AUD amount:1,250.4 AUD
Total Cost:10.24%
Time:
Rate Fetched: Wed Jan 16 2019 16:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

Australia Trip Checklist    

 
  1. Compare AUD travel cash rates - probably why you are here!
  2. Search Hotel deals - Save on your accomodation in Australia
  3. Lonely Planet - world's best travel guide (coupon and deals)

Sending money to Australia

When searching around for information on how to get a good exchange rate when sending money to Australia you need to start with finding out the latest Australian Dollar foreign-transfer exchange 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 here).

What are the limits on Sending Money to Australia?

There are no limits on sending money to Australia and the government allows unhindered access to foreign investors. Investments over a value of AUD244m (or over AUD1.078bn for investors from the US and New Zealand in non-sensitive sectors) must be pre-screened, but all other capital inflows are unrestricted.

How affordable is Australia?

The IMF’s Global Housing Watch has Australia ranked as the third least affordable place in the world to buy a house – behind only Belgium and Canada.

What prime property does $US1m buy in Australia?

The area (㎡) of prime property that $US1million buys in Australia's capital cities (Q1 2018) is: Sydney 49㎡, Melbourne 91㎡, Brisbane 117㎡, Perth 126㎡. This is compared to equivalent areas for Hong Kong 22㎡, New York 25㎡, London 27㎡, Singapore 37㎡, Paris 45㎡, Shanghai 50㎡, Los Angeles 58㎡, Tokyo 70㎡, Berlin 74㎡, Miami 78㎡, Mumbai 94㎡, Istanbul 110㎡, Dubai 138㎡ and San Paulo 172㎡.

Is there extra costs for foreign citizens who buy Australian property?

Foreign citizens who want to buy or invest in residential property in Victoria (VIC), New South Wales (NSW), Queensland (QLD), South Australia (SA) and Western Australia (WA) will need to pay a stamp duty levy and, in some states, a land tax surcharge. New South Wales recently increased the stamp duty surcharge for foreign investors to 8 percent, making it the most expensive in the country.


Get a better deal for foreign transfers to Australia

When sending money to Australia 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 Australia.

Use our Send to AUD 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!

 

Foreign Transfers - Exchange Rate Comparison

Foreign Transfer Providers
Ratings & Reviews
Receive AUD($)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
13,803 AUD
Value & Rating
1.38030^0.91%Bank Transfers - Online & Phone1-2 days
 
WorldFirst logo
13,796 AUD
$7 less
1.379600.96%Bank Transfers - Online & Phone1-2 days
Wells Fargo Bank logo
13,517 AUD
$286 less
1.3541182.96%Online, Branch, Bank Transfers2-3 days
HSBC logo
13,507 AUD
$296 less
1.3527$153.04%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
13,425 AUD
$378 less
1.3503153.63%Online, Branch, Bank Transfers2-3 days
Bank of America
Bank of America logo
13,337 AUD
$466 less
1.3472$1004.26%Online, Branch, Bank Transfers2-3 days
U.S. Bank
U.S. Bank logo
13,337 AUD
$466 less
1.3472$1004.26%Online, Branch, Bank Transfers2-3 days
 
OFX: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:0^ - No fees for BestExchangeRates users (normally $12 for smaller transfers)
Exchange Rate:1.3803 (0.91% from mid-rate)
AUD amount:13,803 AUD
Total Cost:0.91%
Time:
Rate Fetched: Wed Jan 16 2019 16:02:30 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.8/5.0
Reviews:
WorldFirst: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:
Exchange Rate:1.3796 (0.96% from mid-rate)
AUD amount:13,796 AUD
Total Cost:0.96%
Difference:
$7 less than using OFX
Time:18:07 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone
Rating:
 
: 4.6/5.0
Reviews:
Wells Fargo Bank: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:18
Exchange Rate:1.3541 (2.79% from mid-rate)
AUD amount:13,517 AUD
Total Cost:2.96%
Difference:
$286 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
HSBC: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.3527 (2.89% from mid-rate)
AUD amount:13,507 AUD
Total Cost:3.04%
Difference:
$296 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo

Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:15
Exchange Rate:1.3444 (3.49% from mid-rate)
AUD amount:13,425 AUD
Total Cost:3.63%
Difference:
$378 less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Bank of America: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3472 (3.29% from mid-rate)
AUD amount:13,337 AUD
Total Cost:4.26%
Difference:
$466 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
U.S. Bank: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3472 (3.29% from mid-rate)
AUD amount:13,337 AUD
Total Cost:4.26%
Difference:
$466 less than using OFX
Time:18:07 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
 

Popular AUD cross rates


AUD/USD - Australian Dollar to United States Dollar - 10 Year History

DateExchange RatePeriodChange
16 Jan 20190.7180Latest
09 Jan 20190.71751 Week+0.07%
17 Dec 20180.71771 Month+0.04%
20 Jul 20180.74136 Months-3.14%
16 Jan 20180.79701 Year-9.91%
16 Jan 20170.74722 Years-3.91%
17 Jan 20140.87815 Years-18.23%
18 Jan 20090.670310 Years+7.12%

AUD/EUR - Australian Dollar to Euro - 10 Year History

DateExchange RatePeriodChange
16 Jan 20190.6302Latest
09 Jan 20190.62101 Week+1.48%
17 Dec 20180.63231 Month-0.33%
20 Jul 20180.63196 Months-0.27%
16 Jan 20180.64951 Year-2.97%
16 Jan 20170.70472 Years-10.57%
17 Jan 20140.64855 Years-2.82%
18 Jan 20090.504610 Years+24.89%

AUD/GBP - Australian Dollar to British Pound Sterling - 10 Year History

DateExchange RatePeriodChange
16 Jan 20190.5583Latest
09 Jan 20190.56061 Week-0.41%
17 Dec 20180.56891 Month-1.86%
20 Jul 20180.56456 Months-1.1%
16 Jan 20180.57771 Year-3.36%
16 Jan 20170.62062 Years-10.04%
17 Jan 20140.53475 Years+4.41%
18 Jan 20090.451910 Years+23.55%

AUD/JPY - Australian Dollar to Japanese Yen - 10 Year History

DateExchange RatePeriodChange
16 Jan 201978.1286Latest
09 Jan 201977.62201 Week+0.65%
17 Dec 201880.98361 Month-3.53%
20 Jul 201882.59296 Months-5.41%
16 Jan 201887.99091 Year-11.21%
16 Jan 201785.29122 Years-8.4%
17 Jan 201491.65115 Years-14.75%
18 Jan 200960.695110 Years+28.72%

AUD/CAD - Australian Dollar to Canadian Dollar - 10 Year History

DateExchange RatePeriodChange
16 Jan 20190.9514Latest
09 Jan 20190.94801 Week+0.36%
17 Dec 20180.96271 Month-1.17%
20 Jul 20180.97496 Months-2.41%
16 Jan 20180.99041 Year-3.94%
16 Jan 20170.98452 Years-3.36%
17 Jan 20140.96225 Years-1.12%
18 Jan 20090.833610 Years+14.13%

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