What’s driving the Australian dollar higher in 2022

  There are many different influences over the local currency, increasing commodity prices appear to be the key driver of the recent rise of the Australian dollar. Prices of commodities like oil, wheat and nickel have soared recently on the back of the war in Europe. This has increased the demand for ‘commodity’ currencies like the Aussie dollar, helping it move higher against most major currencies including the US dollar, Euro and British pound.   According to the Reserve Bank Australia There has been a close relationship between the terms of trade and the value of the Australian dollar over […]

Why You Can’t Find an Unimoni Currency Exchange Store

If you have used Unimoni in the past to buy some travel money, you might be wondering – why can’t I find them anywhere? Well, unfortunately, Unimoni has stopped buying or selling currency in cash. Unimoni currency exchange closed their Australian stores. They also closed their wholesale division and no longer offer customers in Australia the ability to exchange currency in cash. Some of the store locations that Unimoni used to operate have been taken by Crown Currency. Crown is a foreign currency service similar to Unimoni with stores right across Australia. They have very good in-store service but you […]

Inflation, Interest Rates and the Australian Dollar: How they are all connected

  This week, the Australian dollar moved higher after recently released figures showed that inflation was on the rise. In fact, across the globe, exchange rates have been adjusting recently to higher than expected surges in inflation. But why does inflation change the value of the Australia dollar? Well, it’s because inflation and expectations of inflation have a direct influence on interest rates. Interest rates in turn, have a big impact on the value of a currency. This makes inflation, interest rates and the Australian dollar all connected. According to the Reserve Bank of Australia (RBA), inflation is:  An increase […]

The Australian Dollar rises above 75 cents as inflation increases

  The AUD to USD exchange rate rose above 75 cents for only the second time since the end of July. At 12:50pm, the CPI or inflation data was released. It showed that prices in Australia are rising faster than previously forecasted. Here are some of the key points: Consumer prices rose 0.8 per cent during the September quarter (July, August and September). Prices are 3% higher than a year earlier. The increase was largely because of fuel which increased 7.1% and rising house prices which increased 3.3%. Interest rates are one of the big drivers of Australian dollar. Right […]

Heading to Japan? The AUD to JPY just hit a 3 year high

  This week, the AUD to JPY exchange rate has risen to its highest level in over 3 years. It has been a tale of 2 stories. Firstly, the Australian dollar has been getting stronger against many major currencies. Secondly, and more importantly, the Japanese Yen has been much weaker. This means that it is now one of the best times to buy Japanese Yen with Australian Dollars in 2021. The Japanese yen has fallen in recent weeks, not just against the Australian dollar but against most other major currencies like the US dollar and Euro. Higher energy prices have driven […]

Why the Australian dollar is so weak against these major currencies

  In the past 12 months, the Australian dollar has been sent lower against US dollar, New Zealand dollar and the British pound. The exchange rate is also slightly down against the Japanese yen and Euro. It’s largely because of two large influences over the Australia dollar – interest rates and commodity prices. The strength or weakness of the Australian dollar exchange rate is also impacted by the value of the other currency. For example, if the US dollar gets stronger in its own right, then all other things being equal, the Australian dollar will weaken and the AUD to […]

AUD to GBP

When is the Best Time to Buy British Pounds with Australian dollars?

  The best time to buy British Pounds with Australian dollars so far this year, was on March 24, when the AUD/GBP exchange rate was 0.5684. The last time the exchange rate was this high, was in January 2021. The low point for the exchange rate (or the worst time to buy British Pounds) in the last 12 months was in August when rate hit 0.5026.   Is it a good time to buy British Pounds? While it’s nearly impossible to time the market perfectly, if you are travelling to the UK and need to buy some pounds, a higher […]

best time to buy NZ dollars

When is the Best Time to Buy NZ dollars with Australian dollars?

  In the last 12 months, the best time to buy New Zealand Dollars with Australian dollars, was on the 29th of March 2021 when the AUD/NZD exchange rate reached 109.46. In contrast, the worst time was on the 16th of September, it traded below 1.03 for the first time since March 2020. While it’s nearly impossible to time the market perfectly, if you are travelling to New Zealand and need to buy NZ dollars, a higher AUD/NZD exchange rate rate is better for you. It means that you will receive more NZ dollars to spend for each Australian dollars […]

best time to buy Japanese yen

When is the Best Time to Buy Japanese Yen with Australian dollars?

  The best time to buy Japanese Yen with Australian dollars this year, was in March 2022. This is because the AUD/JPY hit 90.92, making it the best time to buy yen in over 6 years. The same applies to anyone transferring money to Japan. In contrast, the worst time in the past year was on the 23rd of August 2021, the same rate bottomed out at 78.38 While it’s nearly impossible to time the market perfectly, if you are travelling to Japan and need to buy yen, a higher AUD/JPY exchange rate rate is better for you. It means […]

best time to buy US dollars

When is the Best Time to Buy US dollars (USD) with Australian dollars?

  If you are travelling overseas this year from Australia, the best time to buy US dollars with Australian dollars was in late February 2021. This is because the AUD/USD peaked at 0.7997 and has fallen gradually since. The same applies to anyone transferring money overseas in US dollars. More recently, the AUD/USD exchange rate rose above 75 cents for the first time since late October 2021, making it the best time to buy US dollars so far this year. In general, if you are buying US dollars with Australian dollars, you want the AUD/USD exchange rate to be as […]