In this Sydney CBD guide, we show you how to save money when looking for Currency Exchange and Forex services downtown in the emerald city.
David Brown Sydney is often mentioned as one of the most beautiful cities in the world. Whether you are visiting to experience the dazzling the harbour; the crystal blue waters and crashing waves of Bondi beach; learn about Sydney’s convict past; sample the culinary wonders across the city; or delight your senses at the Sydney Opera House, you you will want to be prepared for your trip and be at the ready with some australian dollars in your wallet.
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Whatever your reason for visiting, and there are so many possible reasons, before you hit the streets looking for currency exchange you are better off ordering your foreign cash online from Foreign Xchange or Travelex and then picking up the cash at a Post Office branch near to where you live or work.
You will find that you can save a couple of percent on the exchange rate margin by pre-ordering your cash. Our Review of Auspost exchange rates includes the following table that shows you an example of how much you can save.
| Currency | Amount | Branch Rate | Online Rate | Branch Cost | Online Cost | Online Saving | Saving % |
|---|---|---|---|---|---|---|---|
| USD | $500 | 0.6924 | 0.7138 | $722.14 | $700.48 | $21.66 | 3% |
| EUR | €500 | 0.5852 | 0.6033 | $854.41 | $828.78 | $25.63 | 3% |
| GBP | £500 | 0.5239 | 0.5401 | $954.39 | $925.75 | $28.63 | 3% |
| JPY | ¥50,000 | 75.372 | 78.5122 | $663.38 | $636.84 | $26.54 | 4% |
| NZD | $500 | 1.0223 | 1.0539 | $489.10 | $474.43 | $14.67 | 3% |
| Total | $4,698.21 | $4,698.21 | $129.85 | 3% |
Table showing Online vs In-branch Savings with AusPost (exchange rates were valid for 21st July, 2018)
These tables show the latest rates from some major Australian banks (CBA, ANZ and Westpac) for foreign transfers and travel money. The percentages with the rates show how much margin the bank is charging compared to the market mid-rate.
The tables are updated hourly, for the latest comparison goto our comparison calculators for Foreign Transfers and Travel Money.
You can click the rates to goto directly to the comparison table for the currency and transaction type of your choice – the percentage margins for each rate are to the latest market midrate
Sydney CBD Currency Exchange Locations
Get better rates than available to you in-branch by first ordering online from Foreign Xchange for home delivery, you can still pick up in person at any Australia Post branch.
Markets have shifted focus to the interest rate policies of other major central banks rather than the Federal Reserve.
The strength of the US dollar and interest rate movements by the Federal Reserve are behind the weakness of Asian currencies.
The dollar has risen by nearly 20% against most currencies compared to this time last year.
TransferWise’s Borderless Account allows users to hold and convert funds in 40 different currencies and send and spend internationally, all at the “real” exchange rate and with exceptionally low service fees. Users can also receive major-currency payments free of charge.
Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors or users should not be taken as a reference to buy or sell any financial product.