Currency in Australia: AUD Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Australia with the Australian dollar.
What's in this Australia currency guide?
What currency is used in Australia?
The official currency of Australia (country code: AU) is the Australian dollar, with symbol A$ and currency code AUD.
What is a good Australian dollar exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
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Good things to know about the Australian dollar
Here are some key facts about the Australian Dollar (AUD) that are particularly useful for travelers, expats, and business owners:
- Currency Denominations: Australia's currency includes banknotes in $5, $10, $20, $50, and $100 denominations, and coins in 5, 10, 20, and 50 cents, as well as $1 and $2.
- Polymer Banknotes: Introduced in 1988, Australia was the first country to use polymer banknotes, making them more durable and resistant to counterfeiting.
- Goods and Services Tax (GST): A 10% GST is applied to most products and services in Australia.
- Currency Declaration: If bringing more than $10,000 AUD (or equivalent) into Australia, you must declare it upon arrival.
- Currency Conversion: Coins cannot be reconverted upon departure, so it's advisable to spend or exchange them before leaving.
- Tipping Practices: Tipping is not compulsory in Australia; however, a gratuity of 10-15% is appreciated in restaurants if service charges are not included.
- Currency Availability: ATMs are widely available in urban areas, but facilities may be limited in remote regions.
- Currency Exchange Fees: Be aware of potential fees when exchanging currency, especially at airports or hotels, and consider using authorized outlets for better rates.
For more detailed information, you can refer to the official Australian government website. (australia.com)
For more AUD information check out our selection of Australian dollar news and guides.
Frequently Asked Questions
What currency should I use in Australia?
The domestic currency in Australia is the Australian dollar.
What is the Australian dollar currency code and symbol?
The three letter currency code for the Australian dollar is AUD — symbol is A$.
What does the Australian dollar look like?
Here is an example Australian dollar banknote:
Which countries use the Australian dollar?
It is the domestic currency in Australia, Christmas Island, Cocos Keeling Islands, Heard and McDonald Islands, Kiribati, Nauru, Norfolk Island and Tuvalu.
Is the Australian dollar a closed currency?
No, the Australian dollar is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and AUD?
Here are some popular conversion amounts for USD to AUD (US dollar to Australian dollar)*.
*Converted at the current USDAUD interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Australia
Using Wise for Australian dollar travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Australian dollar otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Australian dollar cash before departure, you can save money by ordering online. You generally get better rates and can pick up the AUD cash locally or even on travel day at the airport.
Practical Travel Guide to Australia
Australia is a vast and diverse country, offering breathtaking landscapes, unique wildlife, vibrant cities, and rich cultural experiences. To make the most of your trip, here’s a practical guide covering essential information for travelers.
1. Entry Requirements
- Visa: Most visitors need a visa to enter Australia. Apply for an Electronic Travel Authority (ETA) or eVisitor visa online before your trip.
- Passport Validity: Ensure your passport is valid for the duration of your stay.
- Quarantine Rules: Australia has strict biosecurity laws. Declare all food, plant, and animal products upon arrival.
2. Currency and Money Matters
- Currency: The Australian dollar (AUD) is the official currency.
- Payments: Credit and debit cards are widely accepted, and contactless payments are popular. Always carry some cash for remote areas.
- ATMs and Fees: ATMs are accessible in cities and towns. Some banks, like Westpac and ANZ, offer fee-free withdrawals for international cardholders.
- Tipping: Tipping is not mandatory but appreciated in restaurants and for exceptional service.
3. Transportation
- Domestic Flights: Australia’s size makes flying the fastest way to travel between cities like Sydney, Melbourne, Brisbane, and Perth.
- Trains and Buses: Regional trains and intercity buses like Greyhound offer budget-friendly options but can be time-consuming.
- Driving: Renting a car or campervan is ideal for exploring rural areas and road trips. Drive on the left side of the road.
- Public Transport: Cities like Sydney and Melbourne have extensive public transport networks, including buses, trains, and ferries. Use a smartcard like Opal (Sydney) or Myki (Melbourne).
4. Accommodations
- Hotels and Resorts: Available in all major cities and tourist hotspots.
- Backpackers and Hostels: Budget-friendly options for solo travelers and groups.
- Camping: Australia has excellent camping facilities, from basic sites to luxury "glamping."
- Booking: Book in advance for popular destinations like Sydney, the Great Barrier Reef, and Uluru, especially during peak seasons.
5. Safety Tips
- Wildlife: Be cautious of snakes, spiders, and marine stingers. Follow local guidelines for swimming in the ocean.
- Sun Safety: The Australian sun can be intense. Wear sunscreen, sunglasses, and a hat, and stay hydrated.
- Emergency Numbers: Dial 000 for police, fire, or medical emergencies.
- Bushfires: Check local fire warnings during the dry season (October–April).
6. Weather and Packing
- Seasons: Australia’s seasons are opposite to those in the Northern Hemisphere. Summer is December–February, and winter is June–August.
- Packing Tips: Bring lightweight clothing for warm regions, but pack layers for cooler destinations like Melbourne or Tasmania.
7. Top Attractions
- Sydney: Visit the Sydney Opera House, Bondi Beach, and Harbour Bridge.
- Great Barrier Reef: Explore the world’s largest coral reef system through diving or snorkeling.
- Uluru (Ayers Rock): Experience Indigenous culture at this iconic sandstone monolith.
- Melbourne: Enjoy art, coffee culture, and vibrant laneways.
- Tasmania: Discover pristine wilderness and rich history.
8. Food and Dining
- Local Cuisine: Try iconic Australian dishes like meat pies, lamingtons, and Vegemite. Fresh seafood is a must.
- Wine Regions: Visit regions like Barossa Valley and Hunter Valley for world-class wines.
- Dietary Preferences: Most restaurants accommodate dietary restrictions.
9. Internet and Connectivity
- Wi-Fi: Available in most hotels, cafes, and public areas, though it may be slower in remote locations.
- SIM Cards: Purchase a local SIM card from providers like Telstra, Optus, or Vodafone for affordable data plans.
- Power Plugs: Australia uses Type I plugs with a standard voltage of 230V.
10. Cultural Tips
- Language: English is the official language, but you may hear Indigenous languages and Australian slang.
- Etiquette: Australians are generally informal and friendly. Respect local customs and Indigenous cultures.
11. Travel Insurance
- Purchase comprehensive travel insurance covering health, accidents, and cancellations. Medical care in Australia is excellent but can be expensive for non-residents.
12. Local Events
- Vivid Sydney (May–June): A spectacular festival of lights, music, and ideas.
- Australian Open (January): A Grand Slam tennis tournament in Melbourne.
- Adelaide Fringe (February–March): A world-renowned arts festival.
13. Apps to Download
- TripView: For public transport schedules in Sydney.
- Maps.me or Google Maps: For navigation.
- Australian Broadcasting Corporation (ABC): For local news and weather updates.
By planning ahead and staying informed, you can fully enjoy Australia’s diverse offerings, from cosmopolitan cities to its stunning natural wonders. Safe travels!
Everyday Costs in in Australia
How much does it really cost to live, work, or travel in Australia? Here's what to expect for daily expenses and expat living.
Traveling to Australia: How Much Should You Bring?
For travelers planning a 1-week mid-range stay in Australia, a budget of around AUD 1,500 to AUD 2,200 should suffice, covering most everyday expenses. In Australia, typical daily costs include AUD 20-30 for a meal at a mid-range restaurant, about AUD 4 for a cup of coffee, and AUD 4.60 for a one-way public transport ticket in cities like Sydney or Melbourne. A prepaid SIM card with adequate data might cost around AUD 15-20, while budget accommodations such as hotels or Airbnb can range from AUD 100 to AUD 150 per night. Compared to visiting the United States, where daily expenses and accommodation can be quite similar, Australia leans towards being moderately expensive. When juxtaposed with Singapore, Australia is notably more budget-friendly, as Singapore's costs are relatively higher, particularly for accommodations and dining.
Typical daily costs in Australia:
• 🥘 Meal at a local restaurant: AUD 20–25
• ☕ Coffee: AUD 4–5
• 🚌 Public transport fare: AUD 5–10
• 📱 Prepaid SIM card (7 days): AUD 10–20
• 🛏️ Budget hotel or Airbnb: AUD 100–150 per night
Living in Australia: A Guide for Expats
For expats settling in Australia, expect typical monthly living costs to range from AUD 3,000 to AUD 4,500, depending on lifestyle choices and city of residence. Rent is a significant variable, with average monthly rent for a one-bedroom apartment in a city center costing around AUD 2,000 or more. When it comes to banking and card usage, Australia’s infrastructure supports a wide variety of international credit and debit cards, making it convenient for daily transactions. Online banking is highly prevalent, and digital wallets are gaining traction. For sending or receiving money, online transfer services like Wise or OFX are often more economical and faster than traditional bank exchanges, offering competitive rates and lower fees. It's usually more cost-effective to exchange money locally or rely on these online platforms for currency exchanges, as they often beat the rates provided by banks.
USD/AUD Market Data
The below interactive chart displays the USD/AUD change and UP📈 DOWN📉 trends over the past 1 Year.
Recent Australian dollar Market News
Recent Developments Affecting the AUD
1. RBA Monetary Policy Decisions
- The Reserve Bank of Australia (RBA) left interest rates unchanged in its latest meeting, signaling a cautious approach amid global economic uncertainties. RBA
2. Commodity Prices Fluctuation
- Recent declines in key commodity prices, particularly iron ore and coal, have impacted Australian export revenues, leading to downward pressure on the AUD. Bloomberg
3. China's Economic Data
- Weaker-than-expected economic data from China, Australia’s largest trading partner, has raised concerns about future demand for Australian goods, negatively affecting the AUD. Reuters
4. Global Risk Appetite
- Increased geopolitical tensions and rising global inflation have led to a flight to safety, causing the AUD to weaken as investors prefer safe-haven currencies like the USD. Financial Times
5. Australian Employment Figures
- A surprising decline in employment numbers last month may prompt concerns over economic growth, affecting market sentiment toward the AUD. The Sydney Morning Herald
Stay tuned for continuous updates as these factors evolve and impact the currency market.
For more AUD information read our News and guides to the Australian dollar.
Send Money to Australia - Best Rates
To get a good (and fair) exchange rate when sending money to Australia you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Australia
When sending money to Australia it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 4 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Australian dollar amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted AUD amount will be transfered to the recipient account you specify in Australia.
Use the above calculator to compare the exchange rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Australian dollar deposited into the recipient bank account and less margins and fees kept by the banks!
Managing money while living and working in Australia
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
Understand Australian dollar currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the AUD exchange rate and consider using a money transfer specialist or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Australian dollar bank account: A local AUD bank account can make it easier for you to manage your finances and pay bills while you are in Australia. It may also be more convenient to use a local AUD bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Australia. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Australia. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Australia, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.
We have put together some key points to help managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in Australia.
What are the limits on Sending Money to and from Australia?
There are no limits on the amount of money that can be sent to or from Australia. However, there may be fees and exchange rates that apply when sending money internationally, and these costs can vary depending on the method of transfer and the country where the money is being sent.
If you are sending a large amount of money to or from Australia, it is a good idea to compare the fees and exchange rates offered by different money transfer providers to find the most cost-effective option.
It is also important to note that there are some reporting requirements in Australia for international money transfers. If you are sending or receiving an amount of AUD 10,000 or more, you are required to report the transaction to the Australian Transaction Reports and Analysis Centre (AUSTRAC). This requirement applies to both individuals and businesses.
Additionally, if you are sending money to or from a country that is considered to be a "high risk" for money laundering or terrorism financing, you may be required to provide additional documentation or information to comply with Australian anti-money laundering and counter-terrorism financing laws.
How expensive is living in Australia?
The cost of living in Australia can vary depending on where you live, your lifestyle, and your personal circumstances. However, Australia is generally considered to be an expensive place to live compared to some other countries.
The cost of housing is one of the main factors that can affect the cost of living in Australia. Property prices in Australia's major cities, such as Sydney and Melbourne, are among the highest in the world. Renting a home can also be expensive in these cities, especially in areas that are close to the city center or the beach.
Other costs that can contribute to the cost of living in Australia include:
- Groceries: Basic groceries such as milk, bread, and vegetables are generally less expensive in Australia than in some other countries, but prices can vary depending on where you shop and the time of year.
- Transportation: Public transportation costs in Australia's major cities can be expensive, especially if you are commuting to work or school.
- Healthcare: Australia has a public healthcare system (Medicare) that provides free or low-cost healthcare to Australian citizens and permanent residents. However, some medical treatments and medications are not covered by Medicare, and private health insurance can be expensive.
- Education: Education costs in Australia can vary depending on the type of school or institution you are attending. Public schools are generally less expensive than private schools, but fees for both can be high. Higher education costs, such as tuition fees for university, can also be expensive.
Overall, the cost of living in Australia is higher than in some other countries, but the country's high standard of living and quality of life can make it worth the extra expense.
Is there extra costs for foreign citizens who buy Australian property?
Foreign citizens may be required to pay additional costs when buying property in Australia. These costs can include:
- Foreign Investment Review Board (FIRB) application fee - foreign citizens are generally required to apply for FIRB approval before buying residential property in Australia. The FIRB application fee ranges from AUD 5,000 to AUD 10,000, depending on the value of the property.
- State government taxes - some states in Australia charge stamp duty and other taxes on the purchase of property. These taxes can vary depending on the state and the value of the property.
- Legal fees - foreign citizens may be required to pay legal fees when buying property in Australia. These fees can include conveyancing fees, title search fees, and other legal costs.
- Other costs - foreign citizens may also be required to pay other costs when buying property in Australia, such as building and pest inspections, strata inspection reports, and mortgage application fees.
It is important to note that these costs can vary depending on the type of property being purchased and the location of the property. It is a good idea to carefully research the costs associated with buying property in Australia and to budget accordingly.
You can read about the best providers and compare the latest deals for international money transfers to Australia in our Send Money to Australia guide.