It's easy to see the AUD to EUR exchange rate on XE, Bloomberg or any other currency converter. It's the real exchange rate set by the foreign exchange market. It's also sometimes called the 'wholesale' rate or the 'interbank' rate because it's used for wholesale amounts between banks. It's the best rate to convert foreign currency but often, it's very hard to actually get.

Where is the best place to exchange AUD to Euro?

It's simple to buy Euro from AUD online, but it may not necessarily be as fast as walking into a money changer. Services like Australia Post also offer a foreign exchange service online but it takes between two and five business days before the currency is ready for pick-up or delivery so you need to be organised!

Alternatively, buying your European currency in-store can be a good option but it all depends on where you go. The money changers in the centre of the main cities like Sydney or Melbourne tend to be more competitive than smaller stores in the suburbs.

Only change money at the airport as a last resort. The exchange rates and fees at Australian airports are among the worst in the world so avoid it at all costs if you want to get the best bang for your buck.

Learn more: The Best Places to exchange AUD for EUR in Australia

How can I convert AUD to EUR at the best rate?

The exchange rate that you see online if you use Google, XE or any other currency converter, is the real exchange rate. It's also sometimes called the 'wholesale' rate or the 'interbank' rate because it used for wholesale amounts between banks. It's the best rate to convert foreign currency but often, it's very hard to actually get.

The key to finding the best foreign currency rate is to compare your options. Make sure that you compare not just the exchange rate, but the total cost of your currency including any service or delivery fees.

Learn more: Get the best AUD to EUR exchange rate

What is the best time to exchange AUD to EUR?

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. The higher the rate, the better it is for you. It means that you will receive more Euro dollars for the same amount of Australian dollars.

Unfortunately there isn't a particular day of the week or time of the day that is the best time.

While it's impossible to pick the perfect time, you can set up a free rate tracker to keep an eye on the rate.

Also keep in mind that if you buy it online, it may take 2-4 business days to arrive so make sure you finalise your financial transaction at least a week before you are due to travel overseas.

Learn more: When is the best time to buy Euros with Australian dollars?

Is the Australian dollar going up or down against the Euro dollar?

Major Australian and New Zealand banks have a similar trajectory for the Aussie (AUD) to the Euro (EUR) - reflected in their AUD to EUR exchange rate forecasts in 2022. Generally, their outlook for the AUD is slightly more optimistic compared to the EUR.

Learn more: Bank Forecasts for the AUD to EUR in 2022