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Foreign Exchange Guide to Australia

Read this currency guide to Australia with money transfer and travel tips.   [USD/AUD=1.3858]

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

In the weeks leading up to this report (12-Nov-18), the Australian dollar was among the best performing global currencies. A broader 2018 view will, though, show a currency that is struggling. The good news is that the Aussie’s prospects for 2019 remain good.

Important for AUD in November was the break of an important technical trendline that demarcated the 2018 downtrend. Between January and late October, the currency lost nearly 14 percent against the US dollar to trade at a 2-1/2-year low of $0.702. It had recovered by the time of this report into the $0.72s. Similar could be said of AUD’s performance against the euro.

Easing trade tensions between the US and China was another big positive for AUD in November.

Inaction on interest rates from the RBA has lended itself to lower AUD exchange rates but this will change next year. The inevitability of higher Australian interest rates will become the narrative in mid-2019, thinks Citibank, and this will drive capital into AUD and force its price up to $0.77. An even stronger bullish view was expressed in September by UBS, which predicted a rise in AUD to $0.82 by 2019 year-end.

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.

 

Compare USD to AUD Travel Money Exchange Rates vs the Banks

USD $1,000 → Spend Australian dollar (AUD) Settings - Currency/Amount

ProvidersAmount AUDExchange RateCostReviewsDeals Links
Travelex Online US logoTravelex Online US
$1205.60 AUD
Top Provider
1.205612.81%
 
HSBC logoHSBC
$1193.50 AUD
$12 less
1.193513.69%
Banks - Average Rate
U.S. Bank logo Wells Fargo Bank logo HSBC logo
$1177.51 AUD
$28 less
1.185514.85%
Wells Fargo Bank logoWells Fargo Bank
$1169.63 AUD
$36 less
1.193515.42%
U.S. Bank logoU.S. Bank
$1169.40 AUD
$36 less
1.169415.43%
Travelex Online US fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:1.2056 (12.81% from mid-rate)
AUD amount:$1205.60 AUD
Total Cost:12.81%
Time:
Rate Fetched: Tue Nov 20 2018 16:00:05 GMT+0000 (UTC)
Rating:
 
: 4.3/5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:1.1935 (13.69% from mid-rate)
AUD amount:$1193.50 AUD
Total Cost:13.69%
Time:18:07 Local
Rating:
: /5.0
Reviews:
 

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

Banks - Average Rate
USD amount:$1,000 USD
Fee:$10 USD (1%)
Exchange Rate:1.2100 (12.5% from mid-rate)
AUD amount:$1177.51 AUD
Total Cost:14.85%
Wells Fargo Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$20 USD (Minimum fee)
Exchange Rate:1.1935 (13.69% from mid-rate)
AUD amount:$1169.63 AUD
Total Cost:15.42%
Time:18:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$1,000 USD
Fee:$0
Exchange Rate:1.1694 (15.43% from mid-rate)
AUD amount:$1169.40 AUD
Total Cost:15.43%
Time:18:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/AUD mid-rate: 1.3828
Rates @ 11/20/2018
 

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!

 

Compare USD to AUD Foreign Transfers vs the Banks

Send USD $10,000 → AUD Settings - Currency/Amount

ProvidersAmount AUDExchange RateCostReviewsDeals Links
OFX logoOFX
$13,773 AUD
Top Provider
1.37730.4%
 
HSBC logoHSBC
$13,255 AUD
$518 less
1.32754.14%
Wells Fargo Bank logoWells Fargo Bank
$13,053 AUD
$720 less
1.30775.6%
Banks - Average Rate
Bank of America logo U.S. Bank logo Wells Fargo Bank logo HSBC logo
$13,017 AUD
$756 less
1.30935.86%
Bank of America logoBank of America
$12,880 AUD
$893 less
1.3016.86%
U.S. Bank logoU.S. Bank
$12,880 AUD
$893 less
1.3016.86%
 
OFX fee breakdown & reviews
USD amount:$10,000 USD
Fee:$0
Exchange Rate:1.3773 (0.4% from mid-rate)
AUD amount:$13,773 AUD
Total Cost:0.4%
Time:
Rate Fetched: 18:07 Local
Rating:
 
: 4.8/5.0
Reviews:
HSBC fee breakdown & reviews
USD amount:$10,000 USD
Fee:$15 USD (.15%)
Exchange Rate:1.3275 (4% from mid-rate)
AUD amount:$13,255 AUD
Total Cost:4.14%
Difference:
$518 AUD less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
Wells Fargo Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$18
Exchange Rate:1.3077 (5.43% from mid-rate)
AUD amount:$13,053 AUD
Total Cost:5.6%
Difference:
$720 AUD less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
 

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

Banks - Average Rate
USD amount:$10,000 USD
Fee:$15
Exchange Rate:1.2984 (6.1% from mid-rate)
AUD amount:$13,017 AUD
Total Cost:5.86%
Difference:
$756 AUD less than using OFX
Bank of America fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3010 (5.92% from mid-rate)
AUD amount:$12,880 AUD
Total Cost:6.86%
Difference:
$893 AUD less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
U.S. Bank fee breakdown & reviews
USD amount:$10,000 USD
Fee:$100 USD (1%)
Exchange Rate:1.3010 (5.92% from mid-rate)
AUD amount:$12,880 AUD
Total Cost:6.86%
Difference:
$893 AUD less than using OFX
Time:18:07 Local
Rating:
: /5.0
Reviews:
 
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
Cost is provider fees + exchange rate margin vs USD/AUD mid-rate: 1.3828
Rates @ 11/20/2018
 

Major AUD cross rates


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

DateExchange RatePeriodChange
20 Nov 20180.7260Latest
13 Nov 20180.72301 Week+0.41%
21 Oct 20180.71131 Month+2.07%
24 May 20180.75716 Months-4.11%
20 Nov 20170.75541 Year-3.89%
20 Nov 20160.73202 Years-0.82%
21 Nov 20130.92335 Years-21.37%
22 Nov 20080.625610 Years+16.05%

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

DateExchange RatePeriodChange
20 Nov 20180.6362Latest
13 Nov 20180.63911 Week-0.45%
21 Oct 20180.61801 Month+2.94%
24 May 20180.64586 Months-1.49%
20 Nov 20170.64361 Year-1.15%
20 Nov 20160.69172 Years-8.02%
21 Nov 20130.68495 Years-7.11%
22 Nov 20080.498510 Years+27.62%

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

DateExchange RatePeriodChange
20 Nov 20180.5662Latest
13 Nov 20180.55551 Week+1.93%
21 Oct 20180.54441 Month+4%
24 May 20180.56576 Months+0.09%
20 Nov 20170.57041 Year-0.74%
20 Nov 20160.59382 Years-4.65%
21 Nov 20130.57005 Years-0.67%
22 Nov 20080.420410 Years+34.68%

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

DateExchange RatePeriodChange
20 Nov 201881.7387Latest
13 Nov 201882.26981 Week-0.65%
21 Oct 201880.00071 Month+2.17%
24 May 201882.75906 Months-1.23%
20 Nov 201785.02851 Year-3.87%
20 Nov 201681.26872 Years+0.58%
21 Nov 201393.19405 Years-12.29%
22 Nov 200859.448310 Years+37.5%

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

DateExchange RatePeriodChange
20 Nov 20180.9607Latest
13 Nov 20180.95611 Week+0.48%
21 Oct 20180.93221 Month+3.06%
24 May 20180.97566 Months-1.53%
20 Nov 20170.96821 Year-0.77%
20 Nov 20160.98882 Years-2.84%
21 Nov 20130.97025 Years-0.98%
22 Nov 20080.803610 Years+19.55%

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