Today’s exchange rates
We monitor market rates on a daily basis so you don’t have to. Use our handy exchange rate calculator below to see real time currency conversions based on the Travelex.com.au rate of the day, so you can see if it's a good time to buy.
We’re always comparing our rates against major in-store and online travel money providers, to make sure we provide you with great value on your foreign currency. Use our handy exchange rate calculator below to see real time currency conversions based on the Travelex.com.au rate of the day, so you can see if it's a good time to buy.
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How to calculate exchange rates
Exchange rates are influenced by banks and trading institutions and the volume of currency they are buying and selling at any given time. Currencies are traded (bought and sold) daily around the world.
One currency can be purchased by another currency through banking institutions or on the open market. The volumes of currencies traded are increased and decreased depending on the attractiveness of any particular currency, which depends on a multitude of factors such as political stability, economic strength, government debt and fiscal policy among others.
Government central banks also have the ability to set a currency at a constant price through a method called pegging, which essentially tethers the value of one currency to another. The value (or price) of a currency is determined by its traded volume. If a currency is competitively priced, traders will buy the currency, essentially driving up its value. If a currency is not competitively priced, traders may avoid buying, or even sell it, essentially driving down its value.
Why do exchange rates change?
The exchange rates of the world’s currencies constantly move up and down against each other based on supply and demand. The more in demand a currency is, the higher its price will be. Changes in the foreign exchange market can be caused by this supply and demand, as well as by political and economic events.
Currency jargon explained
Foreign exchange can be confusing. To help you make sense of it all, here are some common terms to do with currency:
Sell rate –This is the rate at which we sell foreign currency in exchange for local currency. For example, if you were heading to Europe, you would exchange Australian dollars for euros at the sell rate.
Buy rate – This is the rate at which we buy foreign currency back from you into your local currency. For example, if you were returning from America, we would exchange your US dollars back into Australian dollars at the buy rate.
Holiday money rate or tourist rate – This is another term for a sell rate.
Spot rate –This is known more formally as the ‘interbank’ rate. It’s the rate banks or large financial institutions charge each other when they’re trading significant amounts of foreign currency.
Spread – This is the difference between the buy and sell rates offered by a foreign exchange provider.
Cross rate – This is the rate we give to customers who want to exchange currencies that don’t involve the local currency (for example, if you wanted to exchange US dollars into British pounds).
Commission – This is the fee that foreign exchange providers charge for exchanging one currency with another.
Does it pay to shop around and compare currency rates?
There are a lot of foreign currency providers in Australia, mainly high-street banks, all offering you a range of products and services. You can spend a lot of time to trying to find the best exchange rate in the market. But there’s usually very little difference between rates offered – sometimes it can be a matter of cents.
Why are tourist money exchange rates not the same as the market spot rate?
The market (or spot) exchange rate is the rate banks exchange currencies at. A lot of extra processes and people go into providing you with currency. The cost of these is reflected in the price of the currency.
At Travelex, we work hard to give you great value for your foreign currency.
We’re constantly striving to do things more efficiently, so that because we want you to get the best possible deal we can offer.
Why do currency exchange rates move?
Currencies constantly move up and down against each other as financial markets change. These movements can be caused by supply and demand, as well as by political and economic events.
Read your reviews on trustpilot
A very quick and easy way to collect foreign currency at the airport. Sales Consultant (3015) was super helpful and courteous!Anna Taranto
I ordered some money online to pick up…
I ordered some money online to pick up at my local outlet, when i arrived to collect my order we realised that i had selected the wrong pick up date! Luckily the lady that was working was able to assist me and managed to fix my error! Thank you!Jen
So easy to arrange with convenience of collecting your foreign currency at the Airport before departure.Jenelle M Hull
Everything went smoothly and on time
Everything went smoothly and on time. Packaging of currency thorough and professional. Particularly pleased with mix of bills. Post Office staff helpful and good on security.Yuri Filip Grbich
very good runs well seamless transaction experienceKV
quick and easy
The whole transaction was quick and easy and the cash was available at my requested time and location.Lisa
My purchase of Fijian Dollars…
I found my purchase of Fijian Dollars from Travelex went smoothly. I was informed by email that my cash had arrived at my nominated Travelex store a day earlier than expected so I collected it a day earlier than nominated. I was happy with the whole process.Robyn
Ease of using Multi-Currency Travelex Card
Super easy to use, re-loading in different currencies is too easy with this card. No problems, would use again.David J Peake
Great, easy transaction. Very competitive rateDejan Narat
Prompt delivery. Pleasant staffStephen
Straight forward process
Straight forward process. Always use.Carol
Easy and convenient
Very easy, I ordered online and collected from my local shopping centre.Rebecca Stewart
I use Travelex online ordering whenever I go overseas
I have used Travelex online ordering for several years (at least 4). I find their rates very competitive and service reliable. It is a pretty hassle free way of collecting your foreign cash and much cheaper than most other methods. I have had one failure to deliver on time which meant I couldn't collect the order as my plane departed before it would be available. I accept that as an unusual aberration in otherwise very good service. Only other moan is that BPay takes so long to process, up to 5 days.R S
First class rapid service
First class rapid service. Good rates. Wouldn't hesitate to use it again.Robert William Latter
Efficient service and no fuss…
Efficient service and no fuss collection from an Travelex branch.Paul Gysslink