What's in this Nauru currency guide?
|Domestic Currency||Australian Dollar|
|Exchange Rate||AUD/USD = 0.6525|
Quick Conversions from Australian Dollar to US Dollar
Nauru Currency Info
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".
Frequently Asked Questions
What currency should I use in Nauru?
The domestic currency in Nauru is the Australian Dollar.
What is the Australian Dollar currency code and symbol?
The three letter currency code for the Australian Dollar is AUD — symbol is A$.
Which countries use the Australian Dollar?
Is the Australian Dollar a closed currency?
No, the Australian Dollar is freely available and convertible. See guide: What is a closed currency?
Australian Dollar (AUD) in the markets
The Australian dollar has dropped close to 6 percent already this year sliding towards US66 cents down to an eleven-year low.
Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD.
The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year.
The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.
The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year.
During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.
For more details read the full article Australian Dollar Forecasts.
The interactive chart below shows the AUD to USD exchange rate and trend for the previous 3 months:
Travel, Currency and Money saving tips for Nauru
Travel money for Nauru
Save money and time by Ordering your Australian Dollars 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 Dollars otherwise you may get much worst exchange rates.
Sending money to Nauru
When searching around for information on how to get a good exchange rate when sending money to Nauru 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 Nauru
When sending money to Nauru 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 :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Australian Dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted AUD amount will be transfered to the recipient account you specify in Nauru.
Use our Send to Australian Dollars 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 Dollars deposited into the recipient bank account and less margins and fees kept by the banks!