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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Travelex Rate Tracker
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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
So easy to set up
So easy to set up, use and transfer cash to! Awesome... thank u for this service xLisa Jane Mahoney
online ordering was easy
online ordering was easy, friendly staff when I picked up my order and most importantly a best exchange rate I could findNell Byrne
Easy no hassle money pick up
Easy no hassle money pick up Always use this service and no commission if paid by bpayMichael Bradley
Excellent! Easy and fast service.C Huynh
Easy, fast, secure! Have used 3 times now, great every time!K. Collins
i purchased 3 lots of NZ currency for…
i purchased 3 lots of NZ currency for myself and 2 family members, it was the first time I have ordered online and I made an error on 2 orders that was fixed easily by the person I spoke to when I rang. the money arrived very promptly and I was impressed. Will order this way later in the year for our next tripGlenda Geloven
I use this to Travelex often
I use this to Travelex often. Good exchange rates and no commission. The staff are excellent.Clare
No currency worries.
I always pre-order my overseas currency and nominate a collection day. The currency is always ready for collection.Margaret Ann Hawkins
Quick and easy
Quick and easy. FantatsticElio Basso
I started off at four stars and that's…
I started off at four stars and that's because I haven't actually used the card overseas or seen what that's like if I run into hassles, or have to use the website in a foreign country. The customer service was good and getting the card accurately loaded with the currencies and the amounts I wanted was seamless. Thanks.Danie O'D
I got a refund and I didn’t even…
I got a refund and I didn’t even realised I had overpaid. The lady was friendly and efficient at kotara. I visited the Charlestown store recently and she wasn’t as helpful. They had run out of envelopes so that was annoying, overall had a good experience. ThanksJade Starr
Fast delivery every time!!
Travelex is fast and simple to order money through and always gets delivered quickly and on time.Talissa Walker
Using Travelex was quick and easy
Using Travelex was quick and easy. The money arrived at my local Post Office at the time requested and it was all organised from my desk without any stress. I would definitely use them again.Helen
Excellent service and user friendly to…
Excellent service and user friendly to order on lineJenny Smith
Very easy to order online. Ready at nominated pickup point on the day on time, crisp clean notes. Thank you.Matt