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Foreign Exchange Guide to Kiribati

Read this currency guide to Kiribati with HKD money transfer and travel tips.   [HKD/AUD=0.188]

 
Kiribati
Country Code:
KI
Domestic Currency:
Australian Dollar
Symbol - Code:
A$ AUD
Telephone Prefix:
+686

This is a foreign exchange guide to Kiribati, the Australian Dollar currency plus HKD to AUD transfers and travel tips.


In this Kiribati 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 Kiribati - currency & money saving tips
  4. Buying Australian Dollar cash online - travel money for Kiribati
  5. Sending money to Kiribati - save on Australian Dollar bank transfers to Kiribati
  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 A$.


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 early August the Australian dollar sunk to a 10 year low of 67¢ (Aug-7) to the US dollar. This was due to the offshore yuan breaking the symbolic and closely watched USD/CNY = 7.0 exchange rate, after the trade war flared up again and the US labelled China a "currency manipulator".

Investors have sold AUD in recent months as they’ve bet on aggressive interest-rate cuts by the Reserve Bank of Australia. These bets paid off: the RBA cut its cash rate in both June and July to a record low of 1 percent.

Lower borrowing costs are necessary, investors believe, in light of persistently soft domestic data and the fallout from a US-China trade standoff that shows no sign of nearing an end.

AUD will continue to track changes in interest-rate expectations. Economists expect at least one further cut this year and many expect two by early 2020. After July's cut, the RBA hinted it would leave rates unchanged for several months.

Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.

Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations. Westpac has predicted three cuts this year.

For more details read the full article Australian Dollar Forecasts.

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

Travel, Currency and Money saving tips for Kiribati

 

English is Kiribati’s official language, but most natives also speak the local Gilbertese tongue. You shouldn't have a problem communicating wherever you go, although the farther you get from Tarawa and Christmas Island, the less English is used. Kiribati and the Islands use the Australian dollar; a major currency that can be exchanged anywhere. You can also change money at the Bank of Kiribati or ANZ bank on Tarawa or Christmas Island. Kiribati is a mostly cash-oriented country, though major cards are accepted in hotels and some shops. Traveler’s checks should be in Aussie dollars.

Transportation: the only transportation are minivans. They don't have timetables. They are run by private people who decide randomly the start and the end of the trip. Often they are full and for this reason they won't stop to pick you up. Sometimes the engine breaks and you have to find another one. But in spite of all these problems they are ok. There are no taxis in the Gilbert Islands. The local transportation is carried out by Air Kiribati. There are regular flights to every island in the Gilbert group except for Banaba, price around 50 AUD one way three times a week for the near islands (until Kuria and Aranuka), and price around 100 - 150 AUD one way once a week for the further ones (for instance, Nonouti, Nikunau, Beru).

 

Travel money for Kiribati

 

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.

   

Kiribati Trip Checklist    

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

Sending money to Kiribati

When searching around for information on how to get a good exchange rate when sending money to Kiribati 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).


Get a better deal for foreign transfers to Kiribati

When sending money to Kiribati 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 Kiribati.

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!

 
Foreign Transfer ProvidersReceive AUD(A$)Exchange RateFee HKDTotal CostDeal Links
OFX logo
9,155 AUD0.18310 for BER users (normally $15)2.61%
DBS Bank logo
9,060.93 AUD0.1814503.61%
Banks - Average Rate
DBS Bank logo Citibank logo HSBC logo
8,963 AUD0.1794554.65%
HSBC logo
8,935.68 AUD0.179$804.94%
Citibank International Money Transfers
Citibank logo
8,892.87 AUD0.1779125.39%
 
OFX: Foreign Transfer HKD→AUD
HKD amount:$50,000 HKD
Fee:0 for BER users (normally $15)
Exchange Rate:0.1831 (2.61% from mid-rate)
AUD amount:9,155 AUD
Total Cost:2.61%
Time:
Rate Fetched: Sat Aug 17 2019 00:16:11 GMT+0000 (UTC)
Transfer Speed:1-2 days
Services:Bank Transfers - Online & Phone, Foreign Currency Accounts
Rating:
 
: 4.8/5.0
Reviews:
 

DBS Bank logoDBS Bank

DBS Bank: Foreign Transfer HKD→AUD
HKD amount:$50,000 HKD
Fee:50
Exchange Rate:0.1814 (3.51% from mid-rate)
AUD amount:9,060.93 AUD
Total Cost:3.61%
Difference:
94 AUD less than using OFX
Time:1:12 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Banks - Average Rate

Foreign Transfer HKD→AUD
HKD amount:$50,000 HKD
Fee:55
Exchange Rate:0.1799 (4.31% from mid-rate)
AUD amount:8,963 AUD
Total Cost:4.65%
Difference:
192 AUD less than using OFX
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
 

HSBC logoHSBC

HSBC: Foreign Transfer HKD→AUD
HKD amount:$50,000 HKD
Fee:$80 HKD (Minimum fee)
Exchange Rate:0.1790 (4.79% from mid-rate)
AUD amount:8,935.68 AUD
Total Cost:4.94%
Difference:
219 AUD less than using OFX
Time:1:12 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 

Citibank logoCitibank

Citibank: Foreign Transfer HKD→AUD
HKD amount:$50,000 HKD
Fee:12
Exchange Rate:0.1779 (5.37% from mid-rate)
AUD amount:8,892.87 AUD
Total Cost:5.39%
Difference:
262 AUD less than using OFX
Time:1:12 Local
Transfer Speed:2-3 days
Services:Online, Branch, Bank Transfers
Rating:
: /5.0
Reviews:
 
Snapshot 08/17/2019 - See full table
 

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

PeriodChange*AUD/USDDate
1 Day+0.12%0.677215 Aug 2019
1 Week-0.12%0.678809 Aug 2019
1 Month-3.25%0.700817 Jul 2019
6 Months-5.1%0.714417 Feb 2019
1 Year-6.6%0.725916 Aug 2018
5 Years-27.25%0.931917 Aug 2014
10 Years-17.67%0.823518 Aug 2009

*For period to 16-Aug 21UTC when AUD/USD was 0.6780

AUD/EUR - Australian Dollar to Euro - Historical Rates

PeriodChange*AUD/EURDate
1 Day+0.3%0.609515 Aug 2019
1 Week+1.6%0.601709 Aug 2019
1 Month-2.07%0.624217 Jul 2019
6 Months-3.35%0.632517 Feb 2019
1 Year-4.23%0.638316 Aug 2018
5 Years-12.16%0.695917 Aug 2014
10 Years+4.75%0.583618 Aug 2009

*For period to 16-Aug 21UTC when AUD/EUR was 0.6113

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

PeriodChange*AUD/GBPDate
1 Day-0.34%0.560115 Aug 2019
1 Week-1.01%0.563909 Aug 2019
1 Month-0.96%0.563617 Jul 2019
6 Months+0.83%0.553617 Feb 2019
1 Year-2.24%0.571016 Aug 2018
5 Years+0.14%0.557417 Aug 2014
10 Years+11.8%0.499318 Aug 2009

*For period to 16-Aug 21UTC when AUD/GBP was 0.5582

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