Today’s online exchange rates
We monitor market exchange rates on a daily basis so you don’t have to.
We’re always comparing our exchange rates against major in-store and online travel money providers, to make sure we provide you with great value on your foreign currency.
*Rates are subject to change throughout the day. In-store rates vary compared to online. Selected currencies are USD, EUR, GBP, JPY, SGD, THB, HKD, NZD, CAD.
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Travelex Rate Tracker
Looking for the best Travelex exchange rates for you on your foreign currency? With our Travel Rate Tracker we'll send you an alert when your chosen currency has reached your desired rate. Simple!START TRACKING YOUR RATES
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
Very easy and quick to get foreign cash
Very easy and quick to get foreign currency. Best exchange rate I could find (even though it doesn’t reflect the true rates, however exchange places never do)Ben Kopec
Had a Hassel Free Experience
Had a hassel free experience with getting my money exchanged with Tavelex I received a good on line rate and would use again.Robyn
Prompt, kept me informed.Robyn Barbara Kenworthy
Had I been able to elect to collect my…
Had I been able to elect to collect my order from Lane Cove Post Office on the website, it would have been 5 out of 5 Your website should be updated to be more user friendlyJocelyn Gregory
Very efficient method to obtain foreign currencies.
Prompt, convenient, secure and efficient. Saves time and offers good rates. I have no hesitation in using the service againSimon John Eden
Have used Travelex approx 4 times…
Have used Travelex approx 4 times always happy with the rate. I like the on line service and picking up free at my local mall. Never had any problems and have recieved great customer servicejenny
Excellent service lovely helpful and no…five stars
Excellent service lovely helpful and no dramas Always been to Doncaster Shopping Centre Melbourne to buy and order our overseas money Five starJill
Love my Travelex card
Besides not being able to get cash out at point of sale, this was a great solution.Obelia
Home delivery is great.
Home delivery is great.larry
Easy to organise & collect
Easy to organise my foreign currency and no issues experienced with the collection. Great service. Thank you.sean_au
It was easy topping up on the App
It was easy topping up on the AppDarryl Luchterhand
Excellent service. I would highly recommend.
I have no reservations in recommending Travelex. They answered our questions promptly over the phone and gave valuable information about exchange rates offered in-store and online. We placed our order online and received confirmation emails directly the order had been received with clear instructions on how to pay. Another email directly payment was received and additional instructions on how to collect money when it was ready. We nominated the date we wanted to collect the money and the venue for collection which could be anywhere from close to home, the airport of departure or the airport of arrival in the destination country. Very prompt, professional and painless.Lynn Suzanne Williamson
Easy to order and collect on the day…
Easy to order and collect on the day nominated by me.JB1
Travelex money exchange
Fast, cheap and accurateSteven Raymond Rand
Very convenient and easy to use
Very convenient and easy to use. Can't get the app in the UK tho.Karen Mary Newman