AUD to SHP interbank exchange rate = 0.5474
AUD and SHP in the Markets
When determining the best time to make a foreign exchange transaction, in this case the AUD vs SHP, you should pay attention to the recent market trends for both currencies.
Australian Dollar (AUD)
In mid-June, the Australian dollar slumped to multi-month lows against SGD, CAD, JPY, CHF, USD and EUR. At US68.7¢, the benchmark Aussie rate, AUD/USD, was 16 percent below its highest rate from 2018.
Investors are selling AUD as they bet on aggressive interest rate cuts by the Reserve Bank of Australia. These cuts will be 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, or even easing.
The RBA is likely to cut interest rates in July, as it did in June (the first cut in 3 years), and will probably cut again later this year. Although this bodes poorly for the Aussie, it won’t be the only currency this year to be hit by easier central bank policies, and that should keep depreciation at reasonable levels.
Interestingly, AUD has, for now at least, decoupled from commodity prices. The price of iron ore (Australia’s largest export) is at multi-year highs while AUD languishes.
Read more in the article AUD Forecasts.
Saint Helena Pound (SHP)
No recent Saint Helena Pound market updates.
Why can't I just get the AUD/SHP market rate I see online or in the media?
The mid-rate is the rate you will see quoted online or the news. It is actually just the half-way point (hence mid-rate) between the last rate at which the AUD / SHP was traded (bought or sold) in the international markets.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate). Some providers such as Transferwise will quote you the mid-rate (or close to) and charge a separate percentage fee.
Getting a good market rate is mainly about timing however the transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for travel money and possibly over 5% to 6% when sending money. The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
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