There are three simple steps you need to take in order to get a good AUD-TRY exchange rate:
Know the latest AUD to TRY market mid-rate shown above - this is your starting point!
Compare your Bank's exchange rates to several licensed FX providers, remember to compare both the exchange rate margins as well as the various types of fees.
We make that easy to do with our calculators for
Australian dollar to Turkish lira (AUD-TRY) - 10 Year History
20 Jun 2018
13 Jun 2018
21 May 2018
22 Dec 2017
20 Jun 2017
20 Jun 2016
21 Jun 2013
22 Jun 2008
The AUD/TRY mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the AUD / TRY was traded (bought or sold) in the international markets.
The closer your final exchange rate is to the market / midrate the better deal you are getting.
2. Transaction Costs - Margins and Fees for AUD/TRY Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
AUD to TRY Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from AUD to TRY.
Book & track your foreign transfers online (24/7) with industry best rates for all your deals - not just the first one! Lock in exchange rates with Spot & Forward Deals. BestExchangeRates users get the transfer fees waived.
Rate available to ANZ Online Banking customers only. Fee for transfers via ANZ Internet Banking is $18 (or $12 if the transfer is over $AUD10,000) in ANZ Foreign Exchange Centre or via ANZ Phone Banking fee is $32.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Click here to order Travel Money and the Pre-paid Cash Passport with $0 commission and great exchange rates only available online. Home delivery or pickup your cash at your local Travelex store, Post Office, HSBC branch or conveniently at the airport on departure day. * Orders paid for via BPAY incur no additional fees. Card (debit or credit) will incur a card surcharge; MasterCard (debit) 0.77%, MasterCard (credit) 0.94%, Visa (debit) 0.72% and Visa (credit) 1%. In addition, for Credit Card purchases, your card issuer may charge a separate cash advance fee. For Australia post collection and home delivery orders under $AUD1,000 a $10 collection fee applies.
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.
Why can't I just get the same AUD/TRY market rate I see on Google or in the Media?
When you look up the current Australian dollar to Turkish lira exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great AUD to TRY mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use our AUD to TRY currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific Australian dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Australian dollar and Turkish lira
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs TRY, you should pay attention to both Australian dollar and Turkish lira news and forecasts.
Australian dollar (AUD) - Market news and forecasts
The Australian dollar could slump more than 10 percent against the US dollar into the "mid-60 cents" region within twelve months, said a senior money manager in June. Given RBA Governor Philip Lowe’s insistence that “there is no strong case for a near-term adjustment in monetary policy,” there is little incentive for investors to hold AUD instead of USD (which will benefit from future Fed hikes), the money manager believes.
A fall to 65 US cents (at 74.4 cents in mid-June ’18) would take AUD back to financial crisis levels last seen in early 2009.
Also pessimistic on the Australian dollar are Westpac and ANZ. Westpac have forecast AUD at 72 US cents in mid-2019 and ANZ have advised clients to “sell the [AUD] rallies.”
Technically, the outlook for AUD/USD remains poor. Longer-term charts show AUD/USD breaking from an upwards trend channel and meaningful psychological support won't be in play until the 70 cents handle.
Against the New Zealand dollar, AUD fell 2 percent in the weeks leading up to this report to N$1.072; however, a bird’s eye view shows AUD/NZD drifting sideways for the past 3 ½ years.
Turkish lira (TRY) - Market news and forecasts
The Turkish lira’s perpetual decline continues in 2018.
In May, USD/TRY reached 4.289, marking yet another all-time low in the lira’s value. 2018 is now the sixth calendar year from the past seven, and the ninth from the past thirteen, in which a record low has been achieved.
Investors continue to be frightened away from the lira and from Turkish assets in general by inflation, which continues to run in double figures. In April, annual core inflation stood at 12.2%.
Given the Turkish central bank’s failure to act on inflation in the form of an increase to its benchmark interest rate, questions have been raised over the bank’s independence (President Erdogan is well known to hold a dislike for high interest rates).
Other issues weighing on the lira in 2018 have included Turkey’s current account deficit, which has more than doubled within the past year; a significant deterioration in US-Turkey relations, due to diverging foreign policies for conflict-engulfed Syria; threats to global trade from new US tariffs and firmer US yields.
Unless Turkish interest rates are raised quickly, the lira will continue underperforming, thinks BNP Paribas.
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