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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.

US Currency

Why the Australian Dollar Could Hit 80 cents this Year

Since March 2020, the Australian dollar has been on a march towards 80 cents agains the US dollar. In the first week of 2020, it reached 0.7816 before easing off. Despite the recent drop, many economists are predicting the Australian dollar (AUD) to reach and move above 80 US cents this year. Here’s why: Massive Chinese demand for Australian commodities like iron ore A stronger than expected recovery in the Aussie economy A falling US dollar Let’s have a look at each of them in a little more detail. China is on the move The coronavirus hit every economy hard […]

2021 Australian Dollar forecasts upgraded as the AUD soars to new highs

Two of Australia’s big banks have upgraded their forecast as the AUD/USD exchange rate hit a fresh 2 and a half year high above 76 cents. The National Australia Bank now expects the Australian dollar to move up to between 80 and 85 cents in the back half of next year. Westpac also increase their prediction for the AUD with a forecast of 82 cents by the end of 2021.   Why the Australian dollar is rising There are a dozens of reasons why the Aussie dollar has been getting stronger. These include: Rising commodity prices like iron ore The […]

cancel for any reason travel insurance

Cancel for Any Reason: Travel Insurance Coverage During a Pandemic

It might be tempting to book a holiday in the hopes that Australia’s international borders will re-open soon. But there’s a high risk that you may have to cancel the holiday – or that complications arise from the COVID-19 pandemic. We’re all attuned to protecting ourselves against travel mishaps with insurance but travel insurance in a time of corona has become a lot more complicated. Cancel for Any Reason (CFAR) travel insurance might have provided protection against the pandemic. But Cover-More, Australia’s major supplier of CFAR policies, suspended Cancel for Any Insurance policies at the start of the coronavirus outbreak. […]

how much cash can i take out of Australia

Taking Cash Out of Australia: How Much Is Too Much?

Are you heading away on a big holiday abroad, or moving overseas, and are unsure how much money you can actually carry out of Australia? The good news is there’s no limit to how much cash you can take out of, or into, the country. But while you can carry unlimited sums out of Australia, you may have to declare amounts with a combined worth of AU$10,000 or more. Important read: While we try to keep this info as accurate and up to date as possible, it’s general information only. Please remember we don’t provide financial or legal advice. Australia […]

Sydney Airport currency exchange

3 Significantly Better Options to Currency Exchange at Sydney Airport

Currency exchange at Sydney Airport can be a real rip-off. If you are exchanging a small amount under $200, you could lose up to 30% of your money in loaded exchange rates and money changer fees. There are only 2 money exchange options at Sydney International Airport – ANZ or Travelex. If you are already at Sydney Airport, then these are your only 2 options. If you have time to sort out your travel money before you go to the airport, here are 3 better alternatives: Order online before you head to the airport Head into a store or a […]

The Australian Dollar motors to a 21 month high over the weekend

The Australian dollar moved higher over Friday and Saturday, pushing to a 21-month high against the US dollar. Once again, the move higher was driven largely by a weaker US dollar. So how does it work? Well, if the US dollar weakens and the Australian dollar remains the same, then the AUD/USD exchange rate goes higher. The opposite is true too. If the US dollar gets stronger and the Australian dollar doesn’t change, then the AUD/USD rate will fall. In this case, the US dollar has been falling for 4 straight months. This is a big change from earlier in 2020 […]

tax on currency exchange

Tax on Currency Exchange for Travel Money and Travellers’ Cheques

If you want to exchange large amounts of money for your trip abroad, it’s natural to wonder whether you’ll be taxed and whether it’s better to exchange your foreign currency overseas. The good news is that in Australia, you don’t have to pay tax on currency exchange if you’re simply buying foreign cash for a holiday. That’s because the transaction is a one-off and the money you’re buying is for personal use. But it depends on the circumstances around your foreign exchange. There may be a small tax just on the service fee or commission. And if you’re buying traveller’s […]

American Express currency exchange

Why You Can’t Find an American Express (AMEX) Currency Exchange Store

If you have used American Express in the past to buy some travel money, you might be wondering – why can’t I find them anywhere? Well, unfortunately, American Express has stopped buying or selling currency in cash. AMEX 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. It happened a few years ago and it appears that they won’t return.   Alternatives to American Express currency exchange in each city There are dozens of currency exchange locations to buy travel money in Australia. […]

money overseas travel tips

Choose the Best Way to Take Money Overseas With These Travel Tips

In all likelihood, you’ll need access to the local currency while overseas. But whether you choose to pay with a credit, debit, or travel card, or whether it’s better to use cash, depends entirely on where you’re going and what you plan to do while you’re there. Some countries like Sweden operate nearly exclusively in plastic payments while others, like Vietnam, have an almost entirely cash-based economy. So what’s the best money option while travelling overseas? It could be using local cash, a prepaid travel card, or a debit or credit card, depending on your destination and itinerary. We recommend […]

how expensive is New Caledonia

How Much Spending Money to Take to New Caledonia

While Australians love visiting New Caledonia, either on a cruise or on an island getaway, there’s no avoiding it… New Caledonia is expensive. Is it still worth visiting? You bet it is. With a collection of stunning tropical islands and an intoxicating French-Melanesian culture, this South Pacific island has plenty to offer. So to make the most of your visit, you just need to budget it right from the start. New Caledonia’s official currency is the Comptoirs Français du Pacifique, commonly called the Pacific franc (CFP). A suitable daily budget for spending money in New Caledonia is between 5000 CFP […]

Australian Dollar forecasts

Why the Australian Dollar is getting stronger when the economy is on it’s knees

The AUD/USD exchange rate has risen 30% in 4 months. That is remarkable. 2020 has been a rocky ride for most currencies and markets and the Australian dollar is no different. Here are a few reasons why the Australian dollar has gotten so strong, so quickly.   Overdone Part of the reason the Australian dollar bounced back so hard is that in March, it may have fallen too far. That is, during the first stages of the COVID-19 pandemic, markets sold off the AUD too hard, believing things were worse that they ended up being. On the other side of […]

Best Ways to Take Money to New Caledonia

The 6 Best Ways to Take Money to New Caledonia from Australia

So you’ve booked a trip to New Caledonia – either as part of an epic South Pacific cruise or as your own relaxing island getaway. And now the daydreaming is over, it’s time to sort out the nitty-gritty details – like how to carry money to New Caledonia. We understand you don’t want to miss out on any of the treasures New Caledonia has to offer (from the world’s largest lagoon to impeccable French cuisine), so we’ve created this guide to help you make the most of your savings. Avoid losing excessive amounts of your savings in the currency exchange […]

Melbourne Currency Exchangers Close for Stage 4 Restrictions

If you need to exchange currency in Melbourne right now, you’ll have to wait at least 6 weeks. Every money exchange store in Melbourne was forced to close their doors under stage 4 business restrictions from today. Under these new restrictions, financial and insurance services will be closed with the exception of bank branches and critical banking services. This also includes currency exchange outlets at the airports. The Victorian government has indicated that stage four restrictions are expected to be in place for 6 weeks. That would mean that businesses remained closed until at least Monday the 14th of September. […]

Currency in New Caledonia

Currency in New Caledonia

The Travel Money Guide to Currency in New Caledonia New Caledonia is one of our favourite jewels in the South Pacific crown. But it isn’t a budget destination and to get the most out of your trip, it’s a good idea to learn everything you can about the local currency and payment options before you go. The official currency of New Caledonia is the Pacific Franc (CFP or XPF) – money you’ll quickly become familiar with since plastic payments still aren’t common away from the tourist hotspots. Want to learn more about the franc and how to get your hands […]

Best Ways to Take Money to Vanuatu

The 5 Best Ways to Take Money to Vanuatu from Australia

Vanuatu boasts luxury beach resorts, beautiful waterfalls, volcanos, and intoxicating underwater reefs perfect for snorkelling or diving. We love it so much that Australians account for almost all cruise ship visitors to Vanuatu and some two-thirds of their long-stay visitors. But how do you get the most out of your stay without squandering your savings on unnecessary fees and charges during currency exchanges? Here are the 5 best ways to take money to Vanuatu from Australia and will ensure you get the most out of your trip (and your budget!). Taking Australian dollars to exchange in Vanuatu Buying vatu in […]

AUD USD Rises Above 72 cents for the first time in 17 months

For the first time since February 2019, the Australian dollar has risen above 72 cents. It caps off a remarkable period for the Aussie dollar which hit 0.5740 in late March. The massive rally higher has been driven by: An increase in commodity prices A weaker US dollar Increased risk sentiment The forecast for the AUD/USD remains uncertain heading into the back half of 2020. While many agree that the US dollar could weaken further, commodity prices are less likely to continue higher. There is also the possibility of increased volatility which historically, has had a negative impact on the […]

how much money should i take to Vanuatu

How Much Spending Money to Take to Vanuatu

If you’ve booked a trip to Vanuatu, you want it to be everything you dreamed of. You’ll want to do it all, not have to choose between diving in the blue holes or heading to the Cascades because of budget constraints. A holiday to Vanuatu is about rest and relaxation. Give yourself a little more opportunity to rest by budgeting the adventure right from the outset. On average, tourists spend roughly 45,000 vatu a day on their getaway (the Vanuatu currency). But to figure out the right budget for your needs, you need to factor in: Where you want to […]