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Foreign Exchange Guide to Australia

Read this currency guide to Australia with money transfer and travel tips.   [USD/AUD=1.412]

 
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

Following a flash crash in early January, which saw the Australian dollar briefly trade at a 10-year low of $0.674, the Aussie recovered to $0.73, but then, as it had done before the flash crash, it commenced with a slow and steady decline, and it was back at $0.705 in mid-March and was predicted to fall further.

In February, HSBC predicted a year-end AUD/USD rate of $0.66. In March, Westpac and JP Morgan were slightly more upbeat and argued for $0.68.

Fuelling lower exchange rate forecasts is the Australian economic story, for which major themes include a housing market slump, Chinese growth and the US-China trade spat. The RBA slashed growth forecasts in February and markets are now pricing in 1-2 interest rate cuts this year.

Another Aussie exchange rate worth mentioning is AUD/GBP, which sank in mid-March to its lowest level in nearly 3 years, at just £0.53. The Australian dollar has been unable to compete with the pound of late, since the latter benefits every time the British government fails to make a decision on how to deliver Brexit (every time Brexit appears less likely or to be delayed).

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.

 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Travel Money Providers
Ratings & Reviews
Amount AUD($)Exchange RateFee USDTotal CostCurrency ServicesDelivery/CollectDeal Links
U.S. Bank Foreign Currency
U.S. Bank logo
1,321.7 AUD
1.321706.4%Branch-
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo
1,308 AUD
14 AUD
1.3217$107.33%Branch-
Wells Fargo Bank logo
1,295.27 AUD
26 AUD
1.3217$208.27%Branch-
 
Travelex Online US logo
1,240.5 AUD
81 AUD
1.24050^12.15%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:1.3217 (6.4% from mid-rate)
AUD amount:1,321.7 AUD
Total Cost:6.4%
Time:6:06 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:1.2355 (12.5% from mid-rate)
AUD amount:1,308 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:1.3217 (6.4% from mid-rate)
AUD amount:1,295.27 AUD
Total Cost:8.27%
Time:6:06 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:1.2405 (12.15% from mid-rate)
AUD amount:1,240.5 AUD
Total Cost:12.15%
Time:
Rate Fetched: Sat Mar 23 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:
 
 

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? Shop-around with multiple providers: Get Quotes
Foreign Transfer Providers
Ratings & Reviews
Receive AUD($)Exchange RateFee USDTotal CostTransfer ServicesTransfer SpeedDeal Links
 
OFX logo
13,925 AUD
Best Overall
1.39250^1.38%Bank Transfers - Online & Phone, Foreign Currency Accounts1-2 days
 
TransferWise logo
13,977 AUD
52 AUD
1.4049$511.01%Bank Transfers - Online, Foreign Currency Accounts1-2 days
Wells Fargo Bank logo
13,635 AUD
290 AUD
1.366183.43%Online, Branch, Bank Transfers2-3 days
HSBC logo
13,626 AUD
299 AUD
1.3646$153.5%Online, Branch, Bank Transfers2-3 days
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
13,543 AUD
382 AUD
1.3622154.09%Online, Branch, Bank Transfers2-3 days
Bank of America International Money Transfers
Bank of America logo
13,455 AUD
470 AUD
1.3591$1004.71%Online, Branch, Bank Transfers2-3 days
U.S. Bank International Money Transfers
U.S. Bank logo
13,455 AUD
470 AUD
1.3591$1004.71%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:1.3925 (1.38% from mid-rate)
AUD amount:13,925 AUD
Total Cost:1.38%
Time:
Rate Fetched: Sat Mar 23 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:1.4049 (0.5% from mid-rate)
AUD amount:13,977 AUD
Total Cost:1.01%
Difference:
52 AUD more than using OFX
Time:6:06 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:1.3660 (3.26% from mid-rate)
AUD amount:13,635 AUD
Total Cost:3.43%
Difference:
290 AUD less than using OFX
Time:6:06 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:1.3646 (3.36% from mid-rate)
AUD amount:13,626 AUD
Total Cost:3.5%
Difference:
299 AUD less than using OFX
Time:6:06 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:1.3563 (3.94% from mid-rate)
AUD amount:13,543 AUD
Total Cost:4.09%
Difference:
382 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:1.3591 (3.75% from mid-rate)
AUD amount:13,455 AUD
Total Cost:4.71%
Difference:
470 AUD less than using OFX
Time:6:06 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:1.3591 (3.75% from mid-rate)
AUD amount:13,455 AUD
Total Cost:4.71%
Difference:
470 AUD less than using OFX
Time:6:06 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
 

Popular AUD cross rates


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

DateExchange RatePeriodChange
22 Mar 20190.7091Latest
15 Mar 20190.70911 Week0%
20 Feb 20190.71691 Month-1.09%
23 Sep 20180.72766 Months-2.54%
22 Mar 20180.76951 Year-7.85%
22 Mar 20170.76682 Years-7.52%
23 Mar 20140.90965 Years-22.04%
24 Mar 20090.698510 Years+1.52%

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

DateExchange RatePeriodChange
22 Mar 20190.6284Latest
15 Mar 20190.62561 Week+0.45%
20 Feb 20190.63181 Month-0.54%
23 Sep 20180.61936 Months+1.47%
22 Mar 20180.62441 Year+0.64%
22 Mar 20170.71062 Years-11.57%
23 Mar 20140.65955 Years-4.72%
24 Mar 20090.517610 Years+21.41%

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

DateExchange RatePeriodChange
22 Mar 20190.5363Latest
15 Mar 20190.53281 Week+0.66%
20 Feb 20190.54951 Month-2.4%
23 Sep 20180.55636 Months-3.6%
22 Mar 20180.54531 Year-1.65%
22 Mar 20170.61482 Years-12.77%
23 Mar 20140.55195 Years-2.83%
24 Mar 20090.475510 Years+12.79%

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

DateExchange RatePeriodChange
22 Mar 201977.8451Latest
15 Mar 201979.00841 Week-1.47%
20 Feb 201979.39361 Month-1.95%
23 Sep 201881.87896 Months-4.93%
22 Mar 201880.76591 Year-3.62%
22 Mar 201785.39592 Years-8.84%
23 Mar 201492.99415 Years-16.29%
24 Mar 200968.443410 Years+13.74%

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

DateExchange RatePeriodChange
22 Mar 20190.9504Latest
15 Mar 20190.94611 Week+0.45%
20 Feb 20190.94421 Month+0.66%
23 Sep 20180.93976 Months+1.14%
22 Mar 20180.99511 Year-4.49%
22 Mar 20171.02242 Years-7.04%
23 Mar 20141.02115 Years-6.92%
24 Mar 20090.857410 Years+10.85%

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