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Foreign Exchange Guide to Australia

Latest market mid-rate: 1.0 =

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

In this guide we review :

  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 info & charts.

Australian dollar (AUD) general currency information

The three letter currency code for the Australian dollar is AUD and the symbol is $. 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, it trades in the world foreign exchange markets behind the US dollar, the euro, the yen and the pound sterling. The Australian dollar 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

The Australian dollar found its feet in the second week of March, ending a difficult period spanning back to late January. AUD strengthened to buy 0.785 US dollars, 0.638 euros and 83.8 yen.

AUD entered 2018 with verve and climbed to a 2 ½ year high against USD of 0.814 on January 26th, but things took a turn for the worse from then on as investors began to revise upwards their expectations for US interest rates and as Washington imposed US tariffs on imported steel and aluminium – tariffs that some said threatened to spark a global trade war. Given Australia’s open economy and reliance on commodity prices, threats to global trade are bearish for AUD. Post-tariffs, AUD/USD sank into the low 0.77s.

At the time of writing (March-12), useful technical resistance was waiting at 1.6 in EUR/AUD (equivalent to 0.625 in AUD/EUR) and 82.0 remained very solid support in AUD/JPY.

Forecasts: AUD volatility is set to dry up. A Reuters poll of analysts conducted in March produced a median estimate of 0.78 for AUD/USD for one-month and three-month horizons, and for year-end. This estimate marks little change from exchange rates in mid-March and is virtually identical to 2017’s year-end rate. The forecasts do at least represent an upward revision on those from recent months, most of which suggested a fall in AUD/USD this year to levels between 0.7 and 0.75.

The chart below shows the AUD to USD 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.

Loading AUD/USD Chart
AUD calculator

Currency and money saving tips for Australia

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.

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.



Australia Trip Checklist   

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

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 Rates Compared

Buying AUD Cash with USD 1,000

 Travelex Online
1USD=1.1446AUD
$1144.60 AUD (12.14%)
Free Home Delivery when you Buy Online Travel Money & Cards with $0 commission and great exchange rates only available from Travelex Online. Zero cost for Home Delivery or pickup your foreign cash at your local Travelex store or at the airport on departure day. * Home deliveries can only be made to the registered billing address of your chosen payment method.
Price Details
Receive: $1144.60 AUD
Exchange Rate: 1.1446
(Inverse 1AUD=USD 0.8737)
Fees: USD 0
Total Cost : 12.14% (from mid-rate: 1.3028)
Amount of money that could be received by your currency exchange at rate USD/AUD=1.1446 and inclusive of the fee of USD 0.
Rate timestamp : Sat Apr 21 2018 02:00:03 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.14AUD
$1128.60 AUD (13.37%)
This is the average USD to AUD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.

 
Price Details
Receive: $1128.60 AUD
Exchange Rate: 1.1400
(Inverse 1AUD=USD 0.8772)
Fees: USD 10 (1%)
Total Cost : 13.37% (from mid-rate: 1.3028)
Receive AUD $16 less than with   Travelex Online
Amount of money that could be received by your currency exchange at rate USD/AUD=1.14 and inclusive of the fee of USD 10 (1%).
Rates snapshot: 04/21/2018
 

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. 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.

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 3 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.

By comparing the 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 in Australia and less margins and fees kept by the banks!

Sending a LARGER international money transfer? Request a Free Multi-Vendor Quote

Compare Foreign Transfers

Sending USD 10,000 to AUD

 OFX (prev. USForex)
1USD=1.2783AUD
$12,783 AUD (1.88%)
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Price Details
Receive: $12,783 AUD
Exchange Rate: 1.2783
(Inverse 1AUD=USD 0.7823)
Fees: USD 0
Total Cost : 1.88% (from mid-rate: 1.3028)
This is the amount of money that could be received by your transfer at rate USD/AUD=1.2783 and inclusive of the fee of USD 0.
Rate timestamp : Sat Apr 21 2018 02:03:17 GMT+0000 (UTC)
Bank Rates - Average
1USD=1.2438AUD
$12,419 AUD (4.67%)
This is the average USD to AUD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.

 
Price Details
Receive: $12,419 AUD
Exchange Rate: 1.2438
(Inverse 1AUD=USD 0.8040)
Fees: USD 15
Total Cost : 4.67% (from mid-rate: 1.3028)
Receive AUD $364 less than with   OFX
This is the amount of money that could be received by your transfer at rate USD/AUD=1.2438 and inclusive of the fee of USD 15.
 

Australian dollar - exchange rates

Major AUD cross rates
View Full List (A-Z)
1AUD=

Australian dollar News

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