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.
17-January-19: The Australian dollar recovered strongly following a "flash crash" in early January which saw it briefly trade at a 10-year low of 67.4 US cents.
By the time of this report, AUD/USD was back at 72 cents and roughly in line with December’s median exchange rate. The Aussie was similarly strong against other major currencies following its mini crash.
Several months ago, most analysts agreed that the Aussie was heading higher in 2019, but things have changed. In recent months, investors have become increasingly certain that no increase to Australian interest rates will be seen until 2020; there is, in fact, now a 25 percent chance of an RBA cut, per derivatives pricing. Inaction on interest rates will force capital away from Australia and towards countries where rates are higher or are expected to increase.
One senior researcher at BNP Paribas said in January that the Australian dollar would “get absolutely crucified and could suffer a 25-30 percent [long-term] fall.”
In opposition to that view, at least relative to the US dollar, was a CIBC analyst, who said that at current levels the Aussie was “very undervalued” and was his “best bet” for 2019. The analyst’s view was based upon there being a positive resolution to the US-China trade spat. The Aussie could be worth as much as 78 US cents in the second half of 2019, the analyst said.
28-December-18: Global trade tensions placed a cap on Taiwan dollar appreciation in 2018. With tensions in play, Taiwan’s central bank had little choice but to leave interest rates unchanged at extremely low levels (1.375 percent) at its December meeting; it feared a reduction in global trade would hurt Taiwan’s export-dependent economy.
Against the US dollar, the Taiwan dollar lost 3.5 percent of its value in 2018, to NT$30.78, but lost only 1 percent in the second half of the year.
Against the euro, it gained 1.6 percent, to NT$35.11, and against the Australian dollar, gained a handsome 7 percent, to NT$21.63.
In December, TradingEconomics.com forecast USD/TWD at 31.06 at 2019 year-end, indicating little change from current levels.
