Open a Free Currency Exchange account herewith us to make your Bank-to-Bank transfers much better value. We are Financial Services Authority ( UK) registered and regulated by the FSA and Barclays Bank PLC.
We specialise in exchanging Australian Dollars
- No Commission
- No Transfer fees
- Best Commercial rates today
- Get the AUD at the best rate today
- Buy or sell Australian Dollars here
No minimum amounts apply, but you need to have an account open with us. Smaller amounts of currency can then be exchanged using our online currency exchange system. Larger amounts will be quoted separately at commercial fx rates.
Call UK +44 (0)1480 458400, GMT 8.30am – 8.30pm.
Australian Dollar, AUD
- The dollar is usually denoted by the letters AUD and the symbol $.
- Each Australian dollar is divided into 100 cents.
- The Australian dollar is the official currency of Australia including Norfolk Island, Christmas Island and the Cocos Islands. It is also used in Pacific island states that have independence status, namely Nauru, Tuvalu and Kiribati.
- The Australian dollar is traded widely. It accounts for around just under 5% of all foreign currency exchange transactions carried out on a worldwide basis. Its popularity is partially due to the fact that Australia has a very stable economy and the fact that the Australian government does not tend to intervene with regard to the foreign exchange market.
Australian dollar, history:
- The current Australian dollar only came into being in 1966. It was brought in as the replacement for the Australian pound, which had been in use since the early part of the 20th century which was a legacy from Colonial rule.
- In 1966, Britain did not have a decimal system of currency and the Australian pound was a system that was not decimal, as it was based on shillings and pence. There were 20 shillings to each pound and then every shilling was worth 12 pence.
- As this was a cumbersome system, particularly when used on the foreign exchange markets, Australia felt the need to bring in the decimal system, which would make financial transactions much easier, particularly with regard to global transactions.
- Hence, the Australian dollar is now based on a dollar and divided into 100 cents. The 1-cent piece is no longer in circulation. This means that you will always pay to the nearest 5c. That is, unless you are using your debit or credit card to pay for an item, in which case you will pay the exact amount.
Buying your Australian Dollars:
- Travellers to Australia are often advised to change their money before they actually land in Australia. This is because they can get a much better exchange rate in other countries, so if you change your money in Australia you will get less dollars for your money.
- However, many travellers coming to Australia will stay, or be intending to stay, for at least several weeks, if not months or even up to a year. Consequently, it is simply not feasible to take in the vast amounts of dollars that would be required to sustain you, if you were staying for a long time.
- ATM machines are widely available in Australian towns and nearly every town will have an ATM machine, where you can withdraw funds, albeit at a poorer rate of exchange.
If you are emigrating, or planning to emigrate, to Australia, it may be worth speaking to a reliable currency dealer as they could save you a considerable amount of AUD by buying the currency on your behalf at the best rate available. In addition, if you contact fx-foreignexchange.com, they won’t charge a transfer fee and the transaction will be COMMISSION FREE.