When you are thinking about sending money abroad, an international money transfer provider is a great option. They can help you with the whole process, provide useful online tools and most importantly bank-beating exchange rates and low or zero fees.
This is the current AUD-TWD mid-market exchange rate. The Total Cost of each foreign transfer in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market AUD-TWD exchange rate.
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 must always be quoted in comparison to a second currency.
So it follows that if you are determining the best time to transact, in this case the AUD vs TWD, you should pay attention to both Australian Dollar and New Taiwan Dollar news and forecasts.
Following a flash crash in early January, which saw the Australian dollar briefly trade at a 10-year low of $0.674, the Aussie recovered to $0.73, but then, as it had done before the flash crash, it commenced with a slow and steady decline, and it was back at $0.705 in mid-March and was predicted to fall further.
In February, HSBC predicted a year-end AUD/USD rate of $0.66. In March, Westpac and JP Morgan were slightly more upbeat and argued for $0.68.
Fuelling lower exchange rate forecasts is the Australian economic story, for which major themes include a housing market slump, Chinese growth and the US-China trade spat. The RBA slashed growth forecasts in February and markets are now pricing in 1-2 interest rate cuts this year.
Another Aussie exchange rate worth mentioning is AUD/GBP, which sank in mid-March to its lowest level in nearly 3 years, at just £0.53. The Australian dollar has been unable to compete with the pound of late, since the latter benefits every time the British government fails to make a decision on how to deliver Brexit (every time Brexit appears less likely or to be delayed).
3-March-2019: 2018 was a mixed year for the Taiwan dollar, as it lost 3.5 percent of its value against the US dollar (NT$30.56) but made respective gains of 1.6 and 7 percent against the euro (NT$35.09) and Australian dollar (NT$21.54).
Against the Aussie and euro, TWD remains in a long-term uptrend, having gained 21 and 25 percent against these currencies over the past 5 years. Against the US dollar, TWD is little changed over this timeframe.
In the first two months of 2019, TWD made little progress (<1.5 percent difference) against each of the aforementioned currencies.
After surveying FX traders in February, Reuters reported the “piling up” of bearish positions on TWD. Traders were seemingly raising their bets on TWD depreciation, encouraged by several months of disappointing export data which analysts said was evidence of a “global tech slowdown that will hit profits for the island’s many technology manufacturers this year.”