Rate last updated Monday, 11 February 2019 10:07:39 AM AEDT. Please note that these are the Travelex online sell rates. In-store rates may differ to those advertised online . How would you like your currency? Enter how much you’d like to top up, either in Australian Dollars, or in the foreign currency amount for the currency you have selected. 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.
With our Travel Rate Tracker we’ll send you an alert when your chosen currency has reached your desired rate. Exchange rates are influenced by banks and trading institutions and the volume of currency they are buying and selling at any given time. 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.
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. 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.
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. 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. This is another term for a sell rate. It’s the rate banks or large financial institutions charge each other when they’re trading significant amounts of foreign currency.