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
Source: International bank aggregate data
How will the AUDEUR perform in 2021?
Why is the AUDEUR rising?
- 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
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.
5 Things to know about the AUDEUR
- AUD/EUR tells you how many Euros are needed to purchase one Australian dollar
- The AUD/EUR can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
- It's heavily influenced by a weak US dollar and local handling of the coronavirus.
- The Eurozone/Euro area includes 19 of the Member States of the European Union (EU) that have adopted the Euro as their primary currency.
- The Australian dollar is known as a 'commodity currency' and is influenced by commodity prices.
AUD bank forecast major crosses for 2021
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.
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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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 exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.