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1 EUR = 1.6194 AUD
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EUR/AUD Exchange Rates and Providers Compared
This guide to the Euro to Australian Dollar exchange rate with 90-day chart & alerts, historic rates, forecasts and EUR to AUD comparison tables for foreign transfers and travel money rates and fees on offer by banks and foreign exchange providers. If you want to calculate equivalent amounts in foreign currencies or rate margins then use our EUR/AUD Quick Calculator.
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 EUR/AUD International Money Transfers. Costs are calculated against the current interbank mid-rate.
| Foreign Transfer Providers | Receive AUD(A$) | Exchange Rate | Fee EUR | Total Cost | Deal Links |
|---|---|---|---|---|---|
 | A$7,909.5 Best Overall | 1.5819 | 0 | 2.03% | |
 | A$8,008.5 A$99 more | 1.6017 | 0 for BER users (normally $15) | 0.8% | |
 | A$8,032.5 A$123 more | 1.6065 | 0 | 0.5% | |
Banks - Average Rate         Average Bank Rate | A$7,612 A$297 less | 1.5334 | 12 | 5.72% |
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
| Travel Money Providers | Amount AUD(A$) | Exchange Rate | Fee EUR | Total Cost | Deal Links |
|---|---|---|---|---|---|
Sparkasse Bank Foreign Currency  | A$1,442.23 Compare | 1.4568 | €10 | 10.68% |
EUR and AUD in the Markets
When determining the best time to make a foreign exchange transaction, in this case the EUR vs AUD, you should pay attention to the recent market trends for both currencies.
Euro (EUR)
The Euro spent 2019 on a downwards trajectory, starting the year with highs at US1.1550 but then slid all year until October where it bottomed out at US$1.09 on Oct 1, close to long-term lows. Since then it has climbed back up towards the average rate for the year of US1.12, perhaps due to the less uncertainty around Brexit.
Euro sentiment dipped in mid-June after the ECB, like other major central banks of the world, ramped up its dovish rhetoric. It said that there was “considerable room” for further quantitative easing and that it would consider negative interest rates. Ordinarily, this would spark an extended euro decline but since other major currencies are also wrestling with easier central bank policies, euro depreciation may be contained.
In spite of Brexit, a slowdown in economic growth, Italian risks and persistently weak inflation — an important measure of inflation expectations fell in June to a record low — the euro did fantastically well against the Australian dollar, New Zealand dollar.
Read more in the article EUR Forecasts.
Australian Dollar (AUD)
The threat of proxy war between the US and Iran in Iraq has pared back some of the gains the Aussie had made coming into the New Year.
The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead.
The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely. In November it had been all downhill traffic for the Aussie dropping back from highs close to 70c at the beginning of the month to around 67c against the USD by month end.
At the end of October the AUD had surged to a three month high against the US dollar following the third rate cut in a year by the US Federal Reserve. The gains were mainly due to the fall in the US dollar after the market sensed that US rates are more likely to rise now than fall further.
The RBA also added to the positive sentiment with an optimistic assessment of easing risks from the US-China trade war and Brexit. Accordingly markets are pulling back from bets that the cash rate will drop to 0.5 per cent and the possible start of quantitative easing.
Interestingly, AUD has decoupled from commodity prices in 2019. The price of iron ore (Australia’s largest export) nears multi-year highs while AUD languishes.
Further RBA interest rate cuts this year are now a certainty, and that doesn’t bode well for currency valuations.
For AUD forecasts and predictions read our Australian Dollar Forecasts report.
Read more in the article AUD Forecasts.
Why can't I just get the EUR/AUD 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 EUR / AUD 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.
Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.
We help you Compare & Save Money on Exchange Rates.
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