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    NAB Exchange Rates – BER Review

    In this article we take a look at National Australia Bank exchange rates and examine how NAB foreign exchange compare to other options available to you.

    Review Updated: Oct 31, 2021

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    If you plan on travelling internationally, sooner or later you will have to deal with foreign exchange rates. For most people, including customers of National Australia Bank (NAB), the very term evokes confusion. However, with minimal effort you can get a basic understanding of NAB exchange rates and all foreign exchange rates. Once you understand the concepts you’ll be able to exchange the currency easily and independently, without help from an agent or a financial advisor. Most importantly:

    National Australia Bank AUD Exchange Rates

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    Sun Dec 4, 2022 0:05 AEDT
    NAB Exchange Rates (% margins to midrate)

    How do National Australia Bank Foreign Exchange Rates Compare?

    Use the below live foreign transfer exchange comparison table that makes it easy to compare NAB exchange rates to the leading FX specialists. This example shows you the situation where you want to send $AUD 10,000 abroad, note the margins for the bank and brokers are compared to the current mid-rate. You can change the currencies and send or receive amount with our full NAB foreign transfers calculator.

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    Understanding NAB Exchange Rates

    Before we proceed to calculate the NAB exchange rates, let’s understand the factors that determine the exchange rates. Three major factors affect the exchange rate. They are:

    Let’s now consider these in detail.


    While travelling abroad, you will be more concerned about how much foreign currency would your AUD fetch. As you probably know, this depends on the currency you wish to buy. See the table below:

    NAB exchange rate Source: https://www.nab.com.au/personal/international/foreign-exchange-rates#/rate

    As you can see, the value of 1AUD differs when converted to other currencies. For instance, 1AUD will fetch you 0.9245CAD, whereas the same 1AUD will fetch you only 0.5464GBP. This might be a bit confusing at the first glance. But, you need to know the rate of only the currency you’ll need for your travel. Hence, if you are travelling to Canada, you need to check the rate of the CAD alone. Similarly, for a trip to New Zealand, you need to check the rates of NZD only.

    Transaction type

    Once you have found the correct currency, the next step is to find the rate relevant to your need. It is important to remember that banks charge different rates for different transactions. The buying rate would differ from the selling rate.

    For buying cash, you will have to refer to this chart. It means one AUD will fetch you 0.7243USD in cash.

    If you were looking to sell some leftover money from your travel, you’ll need to refer to the table below:

    So, if you are selling your foreign currency, say USD, 0.7969USD will fetch you 1AUD. As you can see, this rate is slightly different from the buying rate.

    Products you need

    We have already discussed that the exchange rate depends on the product you wish to buy/sell. For instance, if you were buying a NAB travel card, the cost for various currencies would be:

    We have already seen the rates for hard cash in the tables elsewhere. When you compare, you’ll see that the rates differ according to the product you prefer.


    As well as NAB exchange rates, NAB Internet Banking can also be used for IMT and you can easily send money around the world in no time. In addition, this facility offers you the option of locking in your exchange rates day or night during a week.

    Calculating Currency Conversions

    Now that we have understood the factors that affect exchange rates, it is time to do some calculations and find out how it works in real life situation.

    How much foreign currency will my Australian dollars fetch?

    If you want to know how much amount of foreign currency will X amount of Australian dollars buy, here is the calculation:

    Australian Dollars with you * Exchange rate = Foreign Currency you will receive

    For example, if you have 2000AUD and want to buy USD at the rate of 0.7243USD, then your home currency will fetch 1484.6USD (2000*0.7243=1484.6)

    What is the cost to buy a fixed amount of foreign currency?

    There might be situations when you know you need exactly X amount of foreign currency. In that case, you can use the following formula to calculate the amount of AUD it will cost you:

    The cost in Australian Dollar = the amount of currency you want to buy / exchange rate

    So, if you need 1500 GBP, while the exchange rate is 0.5451, then you’ll have to spend 2751.78AUD (1500/0.5451=2751.78)

    What is the cost if you send money overseas?

    As explained above, if you know the exact amount of money you want to send oversees, the calculation to be used is the same as buying travel money (The cost in Australian Dollar = the amount of currency you want to buy / exchange rate).

    What is the calculation while receiving currency from overseas?

    For receiving money from overseas, use the following formula:

    Foreign currency received/exchange rate = the amount of Australian Dollar you receive.

    So, if you received 2000 GBP through a bank transfer, with an exchange rate of 0.6062, then the amount of AUD you’d receive would be 3299.24 (2000/0.6062=3299.24)

    In short, it can be said that for converting AUD into foreign currencies and vice versa, the general rule will be:

    Once you understand this fundamental idea, the rest becomes easy. However, remember that the actual amount you’ll receive will depend on the type of product too. So, if you buy a travel card, opt for IMT or exchange AUD for foreign currency in cash, there would be slight differences in the cost. Furthermore, you should always try to do currency exchange from branches than airports. Airports are generally costly when it comes to currency exchange.


    Disclaimer: Please note any provider recommendations, currency forecasts or any opinions of our authors should not be taken as a reference to buy or sell any financial product.