The target market for this product will be found within the product’s Target Market Determination,available here. The information quoted above is indicative only and will be confirmed at the time of transaction. Convert foreign cash back to AUD when you return from your trip. An International Money Transfer is a convenient and secure way for you to receive money from overseas. To convert FOREIGN CURRENCY INTO Australian Dollars DIVIDE by the selected rate. We've partnered with the largest, safest and most trusted money currency brands in the world. You should confirm the latest foreign exchange rates with Bankwest prior to making any decisions about a particular transaction. Rates for documentary negotiations, currency transactions in excess of AUD $100,000 or AUD $250,000 and forward rates not listed, 墨尔本换汇 and hedge market quotations are available on request from the Bank. Consistent with these factors, transactions with overseas financial institutions continue to account for the largest share of turnover in the Australian market, at 62 per cent .
The "spot rate", on the other hand, is the exchange rate you'll be quoted before you buy or sell your money. This is set at the time of the transaction, because currencies can fluctuate from moment to moment. A fixed exchange rate regime ties the value of the currency to the fluctuations of another currency. The Hong Kong dollar and U.A.E. dirham are pegged to the U.S. dollar. Under a pegged regime , the monetary authority ties its official exchange rate to another nation's currency. Lock in the exchange rate for up to 13 using a reloadable prepaid card and access your money securely in-store, online and over the phone. The majority of Australian's believe the best way to send money overseas is through their banks, despite massive fees. The information provided in this webpage is intended to be of a general nature only. In reality, you’ll get a slightly different exchange rate depending on whether you’re buying or selling a currency. To get to grips with the different kinds of exchange rate you might hear about, see our Currency Jargon section. For example, if the exchange rate between the Aussie dollar and the US dollar was 0.7200, it means for every Australian dollar you’ll get 0.72 US cents.
In addition there are many foreign exchange dealers and speculators who add liquidity to the market. The exchange rate is decided by the foreign exchange market, also known as the FX market or forex market. When you change your money into US dollars to go on holiday, or shop online at a European site using Euros, you’re taking part in this market. Foreign exchange turnover in Australia is currently around A$160 billion a day. About half of the turnover in the Australian foreign exchange market is against the Australian dollar . 0% on balance transfers for 26 months with 2% BT fee, reverts to 14.99% p.a. We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision. Use our “Get Extra” widget to see how much you could save when you transfer with OFX instead of using your bank or log in to get a live quote. Our currency converter displaysMarket Ratesand is not indicative ofOFX Customer Rates. We have stores all over Australia, including in many major airports.
Having plenty of Aussie dollars up your sleeve is essential to making your most of your trip. Whether you want to head into the vast outback or discover the delights of Sydney and Melbourne, Travel Money Oz can ensure you have enough cash to experience the trip of a lifetime. The above rates and those used in the Foreign Exchange Calculator are updated on business days , and are indicative only. Below, we have divided this spectrum into two broad categories – floating and pegged – although finer distinctions can also be used within these categories. The rates quoted above are indicative only and may not reflect the specific rate that will apply to you or your transaction. You should confirm the latest situation with the Bank prior to making a decision. In this guide, we will show you how to transfer money to Australia. We also help you discover the best options for the cheapest and fastest money transfers from the UK. Since the early 1990s, Australian monetary policy has been conducted under an inflation targeting framework. Under inflation targeting, monetary policy no longer targets any particular level of the exchange rate. Various measures suggest that exchange rate volatility has been higher in the post-float period . In particular, exchange rate fluctuations have played a particularly important role in smoothing the influence of terms of trade shocks. Similar findings have been made for other commodity producing countries.
You should read the Westpac Worldwide Wallet Product Disclosure Statement and Online Banking Terms and Conditions before making a decision and consider whether these products are appropriate for you. Convert major foreign currencies to and from Australian dollars using our simple calculator. Send money around the world quickly in NAB Internet Banking or NAB Connect. You can also lock in your exchange rates day or night during the week. Mastercard Prepaid Management Services Australia Pty Ltd arranges for the issue of the Travelex Money Card in conjunction with the issuer, Heritage Bank Limited pursuant to license by Mastercard Asia/Pacific Pte. You should consider the Product Disclosure Statement available at , before deciding to acquire the product. Please read our website terms of use and privacy policy for more information about our services and our approach to privacy. Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues. We try to take an open and transparent approach and provide a broad-based comparison service. The exchange rates provided are a guide for foreign exchange transactions up to AUD $100,000 and up to AUD $250,000 . Check the exchange rate and click 'confirm' to complete your transaction or 'refresh rate' for a new real time exchange rate. Quite often, ordering online is the cheapest and easiest way to buy currency.