Today’s online exchange rates
We monitor market rates on a daily basis so you don’t have to.
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
All good. Worked perfectlyRajiv Arora
Best conversion rate, best service.
Best conversion rate, no postage fees and were at the post office went I wanted to pick the money up. I can't recommend highly enough. Definitely worth 5 stars.Trish Morgan
Money delivery on time,
Money delivery on time,Omar Guerra
A very easy to use system
A very easy to use system from purchase, setup, app and usage while in Europe.David
Very easy experience
Very easy experience, simple to order the money and arrived as stated. Will use travelex again.Bonzabiz.com
Very easy to use on line system
Very easy to use on line system, clear followup details and instructions. Friendly efficient Staff. If only all online experiences were this good!Clare Andriessen
simple and easy
simple and easySidney Raymond Pattison
Process went smoothly
Process went smoothly. Pays to search for promo codes to get a slightly better rate. My only gripe was the inability to choose denominations. Half of the foreign cash I received were $100 notes which is less than ideal. More $20s would have been appreciated. Better yet, they should give you an idea of the notes you'll likely be receiving with an option to increase or reduce (or preference) particular denominations.Jacob
Fantastic service and great exchange…
Fantastic service and great exchange rate.Jeannette
Easy and swift service!
Easy and swift service!PATRICK
The process was easy and the delivery…
The process was easy and the delivery was on time and there were no charges so I am very happy and would use this service again.Christine Thompson
Great rate, and easy to process, the only let down was picking up from Aust Post, who are useless, not that this reflects on Travelex.Michael Ianniello
Picked up money from nominated post…
Picked up money from nominated post office on the arranged date. No issuesPAUL CAMILLERI
Easy way to get your currency and the…
Easy way to get your currency and the fact I could get it delivered to the post office around the corner from work was brilliant.Michelle Lewis McManus
Efficient system to order and delivery currency requestedJohn Alfred Playford