Foreign exchange guide to Tuvalu and the Australian dollar
What's in this Tuvalu currency guide?
The official currency of Tuvalu (country code: TV) is the Australian dollar, with symbol A$ and currency code AUD.
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The Australian dollar is the fifth most traded currency in the world. Here are a few things to know about the AUD:
The symbol for the AUD is $ and it is abbreviated as "AUD" or "A$" to distinguish it from other currencies with the same symbol.
The currency is commonly referred to by foreign-exchange traders as the "Aussie dollar".
The AUD is a freely floating currency, meaning that its value is determined by the market forces of supply and demand.
The Reserve Bank of Australia (RBA) is responsible for the monetary policy of the AUD and sets the official interest rate, which impacts the value of the currency.
The AUD is a commodity currency, meaning that it is influenced by the prices of Australia's commodity exports, such as iron ore, coal, and gold.
Australia has a strong and stable economy, which makes the AUD a popular choice for investors.
The AUD is used as a benchmark currency in the South Pacific region and is also used as a reserve currency by some central banks.
The AUD is accepted as a form of payment in a number of countries around the world, including Fiji, Kiribati, Nauru, Tuvalu, and Vanuatu.
The AUD historically has a relatively high interest rate compared to other major currencies, which can make it an attractive investment option for some investors.
Australians are more focussed on their currency exchange rate than are the citizens of most other countries, along with perhaps the British and Canadians. This is may be due to the open and trading nature of the Australian economy and also due to their love of 'overseas' travel.
The physical currency consists of coins and banknotes. The coins come in denominations of 5 cents, 10 cents, 20 cents, 50 cents, and $1 and $2. The banknotes come in denominations of $5, $10, $20, $50, and $100.
The banknotes feature images of famous Australian historical figures, such as Edith Cowan, David Unaipon, and Mary Reibey. The design of the currency is constantly being updated, so the physical appearance of the coins and banknotes may vary slightly over time.
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 āOverseas Transaction Chargeā plus āOverseas ATMā 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.
Because Tuvalu is one of those off-the-beaten-track destinations (most of your friends wonāt know where it is when you say youāre going there), it can be handy to have a bit of pre-travel information up your sleeve before arriving. Tuvalu is a remote island nation in the Pacific Ocean. Itās just south of the Equator, west of the International Date Line, two hours by air north of Fiji and part of the Commonwealth. It consists of nine islands and atolls (three true islands and six coral atolls), of which the main one is Funafuti, an atoll with the countryās only airstrip. Visitors are issued with a free 30-day tourist visa on arrival, and thereās no departure tax.
The local currency of Tuvalu is the Australian dollar, with Tuvaluan coins featuring Queen Elizabeth II on one side and local marine life (turtles, octopus, flying fish) on the other. There are no ATMs and credit cards arenāt accepted anywhere, so itās cash-only even at hotels and guesthouses.
In Funafuti, the best way to get around on the main island (called Fongafale) is by motorbike ā rent one for $10 a day or hitch a ride on the back of someone elseās. No one wears a helmet, and there donāt seem to be any available for rent, but people tend to ride slowly and thereās little traffic. There are no flights to Tuvaluās outer islands; theyāre accessible by passenger ferry from Funafuti, and it can be a long trip (overnight or multi-day trips arenāt uncommon).
Most Tuvaluans speak English, even if theyāre shy of using it, and all signs are in English. Still, itās a good idea to learn a few words of Tuvaluan as an icebreaker, such as ātalofaā (hello), āfafetaiā (thank you) and āfetauiā (see you later).
The below interactive chart displays the USD/AUD change and UPš DOWNš trends over the past 1 Year.
The domestic currency in Tuvalu is the Australian dollar.
The three letter currency code for the Australian dollar is AUD ā symbol is A$.
It is the domestic currency in   Australia, Christmas Island, Cocos Keeling Islands, Heard and McDonald Islands, Kiribati, Nauru, Norfolk Island and Tuvalu.
No, the Australian dollar is freely available and convertible. See guide: What is a closed currency?
Here are some popular conversion amounts for USD to AUD (US dollar to Australian dollar)*.
*Converted at the current USDAUD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
To get a good (and fair) exchange rate when sending money to Tuvalu you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
When sending money to Tuvalu itās important to compare your bankās 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 :
Use the above 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!