AUD to EUR Exchange Rate Forecasts for 2023

This article looks at what the banks are predicting for the AUD to EUR exchange rate over the long term in 2023.

The 2024 AUD EUR Forecasts are out now

With most of 2023 out of the way, attention turns to 2024.

Now that most economists have released their predictions for the AUD EUR exchange rate, head here to find out the most up to date forecasts:

AUD to EUR

Major Australian banks have a similar predictions for the Australia dollar to the Euro - reflected in their AUD to EUR forecasts in 2023. Generally, their outlook for the Australian dollar is slightly more optimistic compared to the EUR.

AUDEUR forecasts from bank majors 2023

AUDEUR Forecast Chart 2022

Source: Multinational bank aggregate data

AUD to EUR

Australian Dollars (AUD)
⇆
EUR

So is this a good rate?

0.5565
Low
0.5395		 Average
0.5595		 High
0.5794

Today's rate is lower than the average rate to buy EUR. This chart compares today's rate to the average rate from the past 90 days.

Track this Rate

AUD to EUR

⇆
Wholesale exchange rate updated

AUD to EUR Chart

AUD to EUR Predictions in 2023

In the short term

While major banks predicted the AUD to EUR to rise ever so slightly in the long term, there are plenty of influences on both the Australian dollar and the Euro that have an impact in the short term. These include:

  • Tourism commenced earlier in Europe than in Australia, but Australia's smaller economy bounces faster and greater than in Europe
  • Central bank policies to stimulate the economy is more effective in Australia than in Europe
  • Australia and Europe are at greater risk of inflationary pressures, there’s only so much the government can do to help
  • China’s demand for Australian commodities grows relatively more than European commodities
AUDEUR performance

What do bank analysts think about the AUD EUR in the long term?

  • ANZ says there’s too much uncertainty and expects the AUD to EUR exchange rate to end 2023 at 0.6100
  • Westpac anticipates continued focus on Central Bank policy, predicting the AUD to EUR rise to around 0.6700 by the end of 2023
  • NAB predicts the AUD to EUR forecast exchange rates for the end of next year to decline towards 0.6200

The best time to exchange AUD to EUR

If you are travelling to Europe and need to buy Euros, the best AUD to EUR exchange rate is when it is high. Alternatively, if you are selling Euro's currency either in cash or through a transfer, you want the rate to be as low as possible.

Whether you are buying or selling Euros, no one can tell you when this "right" time is, but you can track the rate for free.

You set the rate you would like and let us to the work. We will email you when the AUD gets within the range you would like to buy Euro dollars.

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