AUDEUR Bank Forecast Euro Cash

AUDEUR Forecasts

The Australian dollar against the Euro dollar exchange rate (AUDEUR) changes every second. This article shares bank forecasts to help you predict changes in the AUDEUR rate.

2021 AUD to EUR: Aussie dollar strength against the Euro

In 2021, the 'Big 4' major Australian banks predict the AUD to Euro to stay above 60 cents for the rest of the year. Currently the AUD/EUR exchange rate is consolidating around 64 cents. In 2020, the AUDEUR exchange rate plummeted to 11 year lows below $0.5400, only to bounce back above $0.6051.

AUDEUR Bank expert rate forecasts 2021

AUDEUR Forecast

Source: International bank aggregate data

How will the AUDEUR perform in 2021?

Why is the AUDEUR rising?

There are many reasons why the Aussie Euro dollar has been rising.

These are the most likely:

  • Australian economy bounces back relatively better than European economies
  • Vaccine rollout reduces coronavirus globally despite new strains
  • A weaker US dollar as the US economy struggles
  • China’s demand for Australian and European commodities grow
  • Economic growth on a global scale recovers
AUDUSD performance
Bank expert AUD USD forecasts 2021 Image

What do bank analysts think about the AUDEUR?

Most of the banks agree China’s demand will improve, government spending will remain high and a vaccine rollout, will support the Australian Dollar and the Euro. However, there is a risk of wider fluctuations this year than bank analysts are predicting in their forecasts.

  • ANZ bank predicts the AUD EUR exchange rate to rise to 0.6466 by December 2021
  • NAB has revised the AUD EUR rate higher to hit 0.6400 by year-end
  • Westpac is updated forecasts higher with a calculated AUD EUR rate of 0.6667 by the end of the year

5 Things to know about the AUDEUR

  1. AUD/EUR tells you how many Euros are needed to purchase one Australian dollar
  2. The AUD/EUR can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
  3. It's heavily influenced by a weak US dollar and local handling of the coronavirus.
  4. The Eurozone/Euro area includes 19 of the Member States of the European Union (EU) that have adopted the Euro as their primary currency.
  5. The Australian dollar is known as a 'commodity currency' and is influenced by commodity prices.
AUDUSD performance

Buying Euro Dollars in Australia

If you like the reassurance of having the local currency readily available from the moment you step off the plane, you have three options to pick up the cash before you go:

  • Buy the currency online and either collect it in-store or have it delivered to you.
  • Collect from a currency exchange store.
  • Most expensively, buy the currency at the airport.

Online money changers like S Money often have the best exchange rates and the best places to buy foreign currency in Australia.

Travelex 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!

Buying your 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 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.

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AUDUSD bank forecasts

2021 AUDUSD Dollar Forecasts

The Australian dollar against the US dollar exchange rate (AUDUSD) changes every second. This article shares bank forecasts to help you predict changes in the AUDUSD rate.

Australian Dollar forecasts

Australian Dollar Forecasts

Australian dollar exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.

Natalie Robertson

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