Australian Dollar to Turkish Lira exchange rates aren't all the same.
The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees.
These margins and fees vary significantly for International Money Transfers and Travel Money transactions as shown below.
This resource page for the Australian Dollar to Turkish Lira exchange rate, has news,
forecasts and
AUD to TRY comparison tables for
foreign transfers and
travel money
rates and fees on offer by banks and foreign exchange providers. You can also check an exchange rate margin with
our Exchange Rate Checker.
AUD/TRY Exchange Rates - How to Compare & Save
Exchange rates can vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for AUD/TRY International Money Transfers. Costs are calculated against the current interbank mid-rate.
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Bank Transfers - Online & Phone, Foreign Currency Accounts
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
Sending a LARGER foreign transfer? Shop-around with multiple providers: Get Quotes
When determining the best time to make a foreign exchange transaction, in this case the AUD vs TRY, you should pay attention to the recent market trends for both currencies.
Australian Dollar (AUD)
In June, the Australian dollar has slumped to multi-month lows against USD, SGD, CAD, JPY, CHF and EUR. At US69.7¢, the benchmark Aussie rate, AUD/USD, was recovering somewhat in the final week of the month but remained 15 percent below 2018’s highest rates.
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.
In the second half of April, the lira slipped to its weakest level in 6 months against the dollar, at ₺5.83. It was 11.5 percent lower than its strongest level from January, but was 21.5 percent higher than its 2018 low (2018 was a crisis year for the lira).
In April, Turkey described a reform package aimed at lifting the economy out of recession. The package included billions injected into banks, reduced tax exemptions, lower corporate tax rates and a crackdown on the shadow economy; however, ratings agencies did not see many positives in the plans due to inadequate details.
TradingEconomics.com sees the lira quoted 5 percent weaker against the dollar in April 2020, at ₺6.14.
Why can't I just get the AUD/TRY 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 / TRY 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.
