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
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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.
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Great ServiceS A H
online order and pickup were easy
online order and pickup were easy, great service.Michelle Erbacher
Very user friendly
Very user friendly. Would recommend.Wayne
Way to go Travelex
Had rang Travelex to ask how long it would take for currency to be sent to my local Travelex store if I ordered online, I was told best to allow 5 business days. I ordered on Tuesday and collected it today, Friday. Excellent service and a good online exchange rate too.Saen Caer
It was a simple process that achieve…
It was a simple process that achieve its goal. I undertook a review of a range of foreign exchange rates over a number of days to determine who was best to provide my needs. Trvelex was the cheapest on every day and therefore were an easy choice.Ross James Theedom
Everything went smoothly
No dramas, easy to order online and quick and simple to pick upCHRIS
Very prompt service online and…
Very prompt service online and courteous staff member in store.Aileen Stark
Fast and easy process online and in…
Fast and easy process online and in store. Staff member was very friendly and courteous.leonnie gibson
Fantastic friendly and quick service
Fantastic friendly and quick serviceLinda Growcott
Friendly helpful staff who managed sell…
Friendly helpful staff who managed sell us more currency than we originally intended! Better to be safe than sorry.Michael
Very helpful thanks
Very helpful thanksJulie Treacy
EXCELLENT ONLINE ORDER
So easy to order online and pick up at the Airport. My money was ready when I arrived. Very friendly helpful service. Great experience.JANICE H
I always use Travelex when going…
I always use Travelex when going overseas aDiane Lesley Mathie
easy and problem free transaction
Everything went perfectly with buying foreign cash for our trip. Picked it up easily and no problems.Martine Chaytow
Easy to organise and prompt to pick up
Easy to organise and prompt to pick upDavid Mark Wallace