There are three simple steps you need to take in order to get a good EUR-AUD exchange rate:
Know the latest EUR to AUD 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
Foreign Transfers
and
Travel Money
transactions.
Review up-to-date
Currency News and Forecasts
for both the Euro and Australian dollar currencies, if available.
1. Market EUR/AUD mid-rate
Right now the EUR/AUD market rate is
and represents how many
Australian dollar
you can get for one Euro.
Calculate equivalent currency amounts with this EUR to AUD currency converter then select the transaction type to compare the best exchange rates available.
Euro to Australian dollar (EUR-AUD) - 10 Year History
Date
Exchange Rate
Period
Change
18 Jun 2018
1.5649
Latest
11 Jun 2018
1.5483
1 Week
+1.07%
19 May 2018
1.5696
1 Month
-0.3%
20 Dec 2017
1.5483
6 Months
+1.07%
18 Jun 2017
1.4704
1 Year
+6.43%
18 Jun 2016
1.5247
2 Years
+2.64%
19 Jun 2013
1.4270
5 Years
+9.66%
20 Jun 2008
1.6375
10 Years
-4.43%
The EUR/AUD 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 EUR / AUD 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 EUR/AUD 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.
EUR to AUD 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 EUR to AUD.
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This is the amount of money that could be received by your transfer at rate EUR/AUD=1.5547 and inclusive of the fee of EUR 0. Rate timestamp : Tue Jun 19 2018 13:15:38 GMT+0000 (UTC)
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This is the average EUR to AUD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.
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.
Travel Money Exchange Rates Compared
Buying AUD Cash with EUR 2,000
Bank Rates - Average
1EUR=1.4286AUD
$2828.63 AUD(9.93%)
This is the average EUR to AUD Buy Foreign Cash exchange rate from multiple banks, exchange kiosks and post-offices, available over the counter and via the internet.
Price Details
Receive: $2828.63 AUD
Exchange Rate: 1.4286
(Inverse 1AUD=EUR 0.7000)
Fees: EUR 20 (1%)
Total Cost : 9.93% (from mid-rate: 1.5702)
Amount of money that could be received by your currency exchange at rate EUR/AUD=1.4286 and inclusive of the fee of EUR 20 (1%).
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 EUR/AUD market rate I see on Google or in the Media?
When you look up the current Euro to Australian dollar 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.
EUR to AUD mid-rate on google search
Getting a great EUR to AUD 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 EUR to AUD currency converter to calculate equivalent amounts in each currency using the latest mid-market exchange rates.
Then choose your transaction type for specific Euro cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Euro and Australian dollar
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 EUR vs AUD, you should pay attention to both Euro and Australian dollar news and forecasts.
Euro (EUR) - Market news and forecasts
On June 14th, the euro had one of its worst days in recent memory after the ECB signalled it would leave interest rates unchanged at 0.0 percent until the latter stages of 2019. A day later (the day of this report), the euro was trading in the mid-$1.15s versus the dollar and looked set to lose more of its value (earlier in the year it had traded in the mid-$1.25s), and had fallen towards the bottom end of its long-term trading range against the pound, at £0.873.
The ECB did at least announce it would phase out quantitative easing in Europe, which kept the euro’s losses within reasonable limits. QE will be terminated at the end of the year.
Goldman Sachs described the June ECB meeting as a “material negative for the euro.”
Prior to the ECB decision, Danske Bank had estimated a median price for EUR/USD in H2 2018 of 1.18; the bank saw a return to the 1.20s as unlikely in the near term (that's almost certain after the ECB meeting). Danske had predicted a “foot-dragging” ECB that would be “reactive rather than active.”
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.
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