The Winners and Losers from a Low Australian Dollar
The Australian dollar recently hit its lowest point since 2002 as it plummeted to 55 cents. It’s now lost more than 10% in 10 days and it’s not just the AUD/USD exchange rate that’s falling. The Australian dollar is down against most other currencies like the euro, pound, yen and kiwi dollar. So is a low Australian dollar good or bad? Like many things, it really depends on your situation. There are definitely winners and losers from a low Australian dollar. The big winners out of a low Australian dollar are some of the parts of the economy that have […]
How to Pay for Things in Japan Using a Card
Japan, where tradition meets modernity, presents a unique landscape for handling money. As a traveler, being well-prepared to manage your finances efficiently while exploring this fascinating country is essential. While Japan is technologically advanced, cash remains a predominant mode of payment. You can however, use your card in many places across the country. With foreign-friendly ATMs still somewhat elusive and over-the-counter card payments patchy, the best way to pay for things in Japan involves combining a number of options: Paying with your Australian debit card Buying a prepaid travel money card Paying with a credit card Buying and preloading an […]
4 Excellent alternatives to Travel Money Oz
Travel Money Oz have more stores than any other money exchange service but they aren’t always the cheapest option. Here are 4 currency exchange providers like Travel Money Oz that have some of the best exchange rates in Australia. S Money Crown Currency Travelex Unimoni
Australian dollar recovers nearly 10 cents off recent lows
In short The Australian dollar has risen from 55 cents to 64 cents against the US dollar Money that flooded into US dollars as investors seek the safety of ‘safe haven’ assets is now flowing in the opposite direction The AUD has also gone up against the Euro, Yen and British Pound Time Open Low High Today 0.6384 In the last week 0.6133 0.6444 In the last month 0.5530 0.6444 The Australian dollar has bounced back after it fell to 55 cents less than a month ago. It has rallied more than 9 cents against the US dollar but has […]
How Much Yen You’ll Need to Bring to Japan in Cash for 1 or 2 Weeks
Japan is one of those destinations people dream of visiting. With the majestic Mt Fuji rising over an undulating landscape, what’s not to love? The mystifying blend of traditional and modern cultures, from the geisha culture of Kyoto to Tokyo’s robot restaurants, makes Japan a destination that never fails to delight and surprise its visitors. If it’s your first time going to Japan, it’s hard to know what your savings target should be for everyday expenses. The amount of money you’ll want to take with you to Japan depends on how you prefer to travel and how long you’ll be […]
The 6 Best Ways to Take Money to the UK
With a trip to the United Kingdom looming, you’ll be stuck into the planning mode as the excitement (and stress!) builds. There’s so much to think about that figuring out how to take your money to the UK from Australia is just another task to add to the list. So we’re here to break it down for you for the best way to take money overseas. From cold hard cash to travel cards or the bank cards you already own, what’s the best option? We’ve created a list of the best ways to carry money to the UK from Australia, […]
When is the best time to buy euros with Australian dollars?
If you are travelling to Europe from Australia, the best time to buy euros with Australian dollars in the last year was in June 29, 2024. This is because the AUD/EUR peaked at 0.6236 after steadily rising for the previous 10 months. On the other hand, the worst time to buy euros in the last 12 months was only a few weeks after the peak, on August 5, 2024 when the exchange rate hit 0.5860. As a rule of thumb, if you are buying euros with Australian dollars, you want the AUD/EUR exchange rate to be as high as possible. […]
How to Pay for Things in the USA Using a Card
You’ve got that epic holiday in the US planned. Naturally, you want your money to go as far as possible. This guide provides you with a thorough overview of how to pay for things in America so you know not just the ins and outs of the greenback but also how to get the best value during your time Stateside.
Will the Australian dollar fall any lower in 2020?
In the first 3 months of 2020, the Australian dollar has fallen an amazing 15 cents from above 70 cents to 55. Now that it has recovered back above 60 cents, will it fall any further this year? Surprisingly, most bank forecasts have the Australian dollar slightly higher towards the middle and back end of 2020. So while it may fall further, it could still recover by the end of the year. While there are several reasons for the fall in the Australian dollar, they all have one thing in common – the coronavirus. Some of the reasons include: A […]
Travelex vs Travel Money Oz vs S Money
Travelex, Travel Money Oz and S Money all allow Australians to buy currency online. But which one is the cheapest? While S Money has the best exchange rates, it does have a service fee. This means that to find the cheapest option, you need to look at the total cost of the currency including all the fees. You can either go to each site and get a quote with each company or use an exchange rate comparison table that includes not just exchange rates, but any service fee too. While price is important, it’s not the only difference between these […]
Can you get coronavirus from handling foreign currency notes and coins?
The COVID-19 pandemic has swept across the world, making it hard to work out what is safe to touch without risk of contracting the coronavirus. If you need to handle bank notes or coins from overseas, can you be sure it’s completely safe? How long Coronavirus lasts on different surfaces depends on the material you are touching. Touching a surface made of copper is different to touching plastic or cardboard. Research from the University of California (UCLA) has given some insight into how long the virus remains on different surfaces. They discovered that COVID-19 was still detectable on different […]
AUD in GFC style freefall dropping 10 cents in 10 days
In short The AUD is collapsing against the US dollar, Euro and Yen Money is flooding into US dollars as investors seek the safety of ‘safe haven’ assets The Australian dollar has reached parity with the New Zealand dollar Time Open Low High Today 0.5739 In the last week 0.5530 0.6315 In the last month 0.5530 0.6710 The Australian dollar is in free fall. In scenes reminiscent of the Global Financial Crisis, the Aussie dollar crashed to 55 cents before making a minor recovery to end the day just above 57 cents. The AUD to USD exchange rate has fallen […]
4 Alternatives to Travelex with Awesome Exchange Rates
Travelex is Australia’s biggest currency exchange service but they are not your only choice. Here are 4 currency exchange providers like Travelex that have some of the best exchange rates in Australia. S Money Crown Currency Travel Money Oz Unimoni
Records smashed as Australian dollar sinks to new lows
In short The AUD/USD drops under 60 cents for the first time since 2003 The Australian dollar is also falling against other major currencies The RBA is likely to announce and interest rate cut and additional stimulus tomorrow Time Open Low High Today 0.5970 In the last week 0.5969 0.6533 In the last month 0.5969 0.6732 The Australian dollar smashed through 60 cents today, hitting a fresh 17 year low. The AUD/USD has not been this low since 2003. It has dropped off a cliff in the last week as money has flooded into ‘safe haven’ currencies like the US […]
Australian dollar plummets to lowest level since 2003
In short The AUD/USD falls to a 17 year low, finishing the week below 62 cents The US dollar is strengthening as investors seek the shelter of ‘safe haven’ assets Risk will likely dictate the direction of the Australian dollar Time Open Low High Today 0.6184 In the last week 0.6130 0.6682 In the last month 0.6130 0.6732 On Friday, the USD dollar got stronger, pushing the AUD to USD exchange rate to a 17 year low. It finished a remarkable week with the Aussie dollar fell more than 5 cents which has not been seen since the GFC. The […]
Australian dollar falls 1 cent as governments roll out stimulus measures to combat COVID-19
In short Markets rally on the back of announced stimulus measures USD strengthens forcing AUD/USD down 1 cent AUD falls against the Euro and NZ dollar but flat against the pound and yen Time Open Low High Today 0.6491 In the last week 0.6472 0.6681 In the last month 0.6464 0.6748 The Australian dollar has fallen more than 1 cent agains the US dollar. The US dollar strengthened after Donald Trump announced measures the US government would take to stimulate the economy. This includes tax cuts, loans and financial relief. These measures are aimed at boosting the economy as it […]
3 Big reasons the Australian dollar is so low
There are 3 main reasons the Australian dollar is so low and they are all have one thing in common – China. China is Australia’s largest trading partner, not just for commodities like iron ore and coal but also for our other important exports like tourism and education. The impact of the coronavirus in China has disrupted the Chinese economy, lowering the demand for commodities Chinese student and tourist numbers have drastically fallen Market panic has made ‘safe haven’ currencies like the US dollar (USD) stronger and ‘commodity’ currencies like the Aussie dollar weaker One of the main reasons […]
Australian dollar recovers after a flash crash to 63 cents
In short Australian dollar ‘flash crash’ sends it to an 11-year low for 20 seconds Traders blame the crash on algorithmic trading platforms Panic hitting markets has increase volatility Time Open Low High Today 0.6597 In the last week 0.6472 0.6655 In the last month 0.6464 0.6748 The Australian dollar collapsed more than 5% in 20 minutes as a mixture of panic and programmatic trading brought the exchange rate tumbling. It did recover to finish the day close to where it began. If you ever wondered what would happen if someone lobbed a hand grenade into a bloodbath, now you […]
