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Foreign Exchange Guide to Australia

Read this currency guide to Australia with money transfer and travel tips.   [USD/AUD=1.4515]

 
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

At the start of the week the Aussie spiked back over US69¢ after the weekend’s surprise election result when the nation’s centre-right government managed to cling to power.

The mid-April to mid-May period was a shocker for the Australian dollar. It suffered across-the-board losses, including losses worth 5 percent against the US dollar. An exchange rate of US68.6¢ on Friday May-17 was the Aussie’s lowest weekly closing rate since early 2016.

For more details read the full article Australian Dollar Forecasts.

The interactive chart below shows the USD to AUD exchange rate and trend for the previous 3 months:

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.

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Travel Money ProvidersAmount AUD($)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
1,361.6 AUD
Compare
1.361606.39%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,348 AUD
14 AUD
1.3616$107.33%Branch-
Wells Fargo Bank logo
1,334.37 AUD
27 AUD
1.3616$208.27%Branch-
Travelex Online US logo
1,280.1 AUD
81 AUD
1.28010^12%Online order, Branch pickup, Home delivery2-3 days
 

U.S. Bank logoU.S. Bank

U.S. Bank: Travel Money USD→AUD
USD amount:$1,000 USD
Fee:0
Exchange Rate:1.3616 (6.39% from mid-rate)
AUD amount:1,361.6 AUD
Total Cost:6.39%
Time:6:00 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Travel Money USD→AUD
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.2728 (12.5% from mid-rate)
AUD amount:1,348 AUD
Total Cost:7.33%
Currency Services:Branch
Delivery/Collect:-
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Travel Money USD→AUD
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.3616 (6.39% from mid-rate)
AUD amount:1,334.37 AUD
Total Cost:8.27%
Time:6:00 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:1.2801 (12% from mid-rate)
AUD amount:1,280.1 AUD
Total Cost:12%
Time:
Rate Fetched: Wed May 22 2019 04:00:04 GMT+0000 (UTC)
Currency Services:Online order, Branch pickup, Home delivery
Delivery/Collect:2-3 days
Rating:
 
: 4.3/5.0
Reviews:
 
05/22/2019
 

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!

 
Sending a LARGER foreign transfer? Request a Multi-Vendor Quote ▾
Foreign Transfer ProvidersReceive AUD($)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
OFX logo
14,401 AUD
Best Overall
1.44010^1%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
TransferWise logo
14,457 AUD
56 AUD
1.4531$510.61%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
14,102 AUD
299 AUD
1.4127183.05%Online, Branch, Bank Transfers2-3 days
HSBC logo
14,091 AUD
310 AUD
1.4112$153.13%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
14,005 AUD
396 AUD
1.4087153.72%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
13,914 AUD
487 AUD
1.4055$1004.34%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
13,914 AUD
487 AUD
1.4055$1004.34%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:1.4401 (1% from mid-rate)
AUD amount:14,401 AUD
Total Cost:1%
Time:
Rate Fetched: Wed May 22 2019 04:02:26 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
TransferWise: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$51 USD (0.5% + $1)
Exchange Rate:1.4531 (0.1% from mid-rate)
AUD amount:14,457 AUD
Total Cost:0.61%
Difference:
56 AUD more than using OFX
Time:6:00 Local
Transfer Speed:1-2 days
Services:Bank Transfers - Online, Foreign Currency Accounts
Rating:
 
: 4.6/5.0
Reviews:
 

Wells Fargo Bank logoWells Fargo Bank

Wells Fargo Bank: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:18
Exchange Rate:1.4127 (2.88% from mid-rate)
AUD amount:14,102 AUD
Total Cost:3.05%
Difference:
299 AUD less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

HSBC logoHSBC

HSBC: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.4112 (2.98% from mid-rate)
AUD amount:14,091 AUD
Total Cost:3.13%
Difference:
310 AUD less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:15
Exchange Rate:1.4026 (3.57% from mid-rate)
AUD amount:14,005 AUD
Total Cost:3.72%
Difference:
396 AUD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

Bank of America logoBank of America

Bank of America: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.4055 (3.38% from mid-rate)
AUD amount:13,914 AUD
Total Cost:4.34%
Difference:
487 AUD less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

U.S. Bank logoU.S. Bank

U.S. Bank: Foreign Transfer USD→AUD
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.4055 (3.38% from mid-rate)
AUD amount:13,914 AUD
Total Cost:4.34%
Difference:
487 AUD less than using OFX
Time:6:00 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
05/22/2019
 

AUD/USD - Australian Dollar to United States Dollar - Historical Rates

PeriodChange*AUD/USDDate
1 Day-0.53%0.692020 May 2019
1 Week-0.79%0.693814 May 2019
1 Month-3.71%0.714821 Apr 2019
6 Months-5.06%0.725022 Nov 2018
1 Year-9.22%0.758221 May 2018
5 Years-25.4%0.922622 May 2014
10 Years-12.26%0.784523 May 2009

*For period to 21-May 21UTC when AUD/USD was 0.6883

AUD/EUR - Australian Dollar to Euro - Historical Rates

PeriodChange*AUD/EURDate
1 Day-0.48%0.619720 May 2019
1 Week-0.4%0.619214 May 2019
1 Month-2.99%0.635721 Apr 2019
6 Months-3%0.635822 Nov 2018
1 Year-4.11%0.643121 May 2018
5 Years-8.72%0.675622 May 2014
10 Years+9.99%0.560723 May 2009

*For period to 21-May 21UTC when AUD/EUR was 0.6167

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

PeriodChange*AUD/GBPDate
1 Day-0.37%0.543720 May 2019
1 Week+0.78%0.537514 May 2019
1 Month-1.54%0.550221 Apr 2019
6 Months-3.8%0.563122 Nov 2018
1 Year-4.04%0.564521 May 2018
5 Years-0.95%0.546922 May 2014
10 Years+9.88%0.493023 May 2009

*For period to 21-May 21UTC when AUD/GBP was 0.5417

AUD/CAD - Australian Dollar to Canadian Dollar - Historical Rates

PeriodChange*AUD/CADDate
1 Day-0.69%0.929220 May 2019
1 Week-1.18%0.933814 May 2019
1 Month-3.53%0.956621 Apr 2019
6 Months-3.51%0.956422 Nov 2018
1 Year-4.74%0.968721 May 2018
5 Years-8.22%1.005422 May 2014
10 Years+4.69%0.881523 May 2009

*For period to 21-May 21UTC when AUD/CAD was 0.9228


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