Currency Exchange & Travel Money at Best Rates

These are the average exchange rates of these two currencies for the last 30 and 90 days. The Pound Euro (GBP/EUR) exchange rate traded in a tight range on Friday, June 2, with Pound Sterling ultimately edging lower against the single currency below the €1.163 handle. Low volatility will fuel further short-term interest in carry trades, but there is an important risk of complacency if central banks have to maintain a very aggressive stance to bring inflation under control. Those who have some time before they travel overseas are often in a quandary over whether they should convert their Australian dollars into other currencies now, or wait in the hope of better rates later.
"Other currencies have fared a lot worse . The Yen is down more than 20 per cent. The pound is down about 17 per cent," Mr Franulovich said. Some of our other trading partners are having a much rougher time of it than Australia. 换汇 They are seeing their currencies fall while ours is stronger against them. "And now, while there's a little bit of a respite on the freight front, that's sort have been evaporated by this fall in the currency."

It's no secret the Reserve Bank of Australia has been hiking the interest rate to try to slow down the rate of inflation in Australia. "We actually do see the benefit of the dropping dollar because that means more AUD through the sales than US dollars," he explained. "We've been waiting to launch into the UK for a really long time now," founder and chief executive officer Ally Mellor said, after returning from the UK on Friday.
In the other states, the program is sponsored by Community Federal Savings Bank, to which we're a service provider. Click on the drop-downs to select the currencies you want to convert between. Australia Post acknowledges the Traditional Custodians of the land on which we operate, live and gather as ​a team.
From 1 January  2020, we have used the exchange rates from the Reserve Bank of Australia. If you need daily foreign exchange rates, refer to Reserve Bank of Australia – Exchange ratesExternal Link. If you use a foreign exchange rate for currency not listed, you may use any reasonable externally sourced exchange rate for that currency. Exchange rates matter to Australia’s economy because of their influence on trade and financial flows between Australia and the rest of the world. The Reserve Bank does not target exchange rates, but it does take  them into account when setting monetary policy.

These are the highest points the exchange rate has been at in the last 30 and 90-day periods. There are still expectations that the Bank of England will have to sanction further multiple interest rate hikes to help bring inflation under control. Because of this, Sterling may be unable to make significant gains against its peers. However, it could be underpinned by persistent bets on further interest rate hikes from the Bank of England. At the time of writing, GBP/AUD traded at AU$1.8591, a fall of around 0.2% from Wednesday’s opening rates.
The US Dollar Rand (USD/ZAR) exchange rate touched multi-year highs last week as the South African currency extended its decline on FX markets. USD exchange rates rallied late on Wednesday in the wake of the Fed’s latest interest rate decision. The GBP/USD exchange rate surged to its highest point since late April due to differing monetary policies from central banks, which negatively impacted the US Dollar. While the consumer market might now been ready for the products, money markets didn't deliver the best results for Ms Mellor's business, launching into an economy with a currency at its lowest rate in history.

Recessionary conditions could also prompt the RBNZ to bring forward its timeline for cutting rates, making the currency less attractive to foreign investors. The majority of Australian's believe the best way to send money overseas is through their banks, despite massive fees. Find monthly and annual foreign exchange rates from the Reserve Bank of Australia updated to May 2023. Most exchange rates are quoted against the US dollar , as it is the most traded currency globally. They add hidden markups to their exchange rates - charging you more without your knowledge. Check our latest exchange rates and order your travel money online.
Enter how much you'd like to top up, either in Australian Dollars, or in the foreign currency amount for the currency you have selected. Sorry we are unable to take your prepaid card details right now. When New South Wales was first established in 1788 the English Pound was the official currency, although Spanish Dollars were used quite regularly.
Oil, gold, iron ore, uranium, nickel and coal are heavily influential on GDP, and the demand for these resources by China and India, in particular, may affect the AUD exchange rate and forecasts. Other Banknotes Details of older banknotes no longer in circulation. People on the Banknotes Biographies of the people who are featured on Australia's banknotes, now and in the past. Redeeming Old Banknotes What to do if you have an old banknote and want to exchange it. The main reason for the strength of the Australian dollar is high commodity prices, says Shane Oliver, chief economist at AMP Capital. That is a big positive for our economy and creates demand for Australian-dollar denominated investments by foreign investors.

This was well above consensus forecasts of 235,000 and the highest reading since October 2021, although the increase in claims was concentrated in two states. The Euro, however, was resilient despite the economic reservations with the single currency taking advantage of a weaker US dollar. Overall risk conditions will remain an important element ahead of UK releases next week. The absolute and relative monetary policy outlooks will remain very important for all asset classes. This could weigh on the ‘Aussie’ due to its nature as a Chinese proxy currency, as it may indicate slowdown in the key sector, and may place a dampener on hopes for a continued recovery in the Chinese economy.
The information on this website does not take into account the investment objectives, financial situation and needs of any particular person. We make no recommendation as to the merits of any financial product referred to on this website. Please review our Product Disclosure Statement, Target Market Determination and Financial Services Guide prior to making a decision. Take advantage of a great introductory rate across 7 currencies .