News

Will the Australian dollar fall any lower in 2020?

In the first 3 months of 2020, the Australian dollar has fallen an amazing 15 cents from above 70 cents to 55. Now that it has recovered back above 60 cents, will it fall any further this year? Surprisingly, most bank forecasts have the Australian dollar slightly higher towards the middle and back end of 2020. So while it may fall further, it could still recover by the end of the year. While there are several reasons for the fall in the Australian dollar, they all have one thing in common – the coronavirus. Some of the reasons include: A […]

Travelex vs Travel Money Oz

Travelex vs Travel Money Oz vs S Money

Travelex, Travel Money Oz and S Money all allow Australians to buy currency online. But which one is the cheapest? While S Money has the best exchange rates, it does have a service fee. This means that to find the cheapest option, you need to look at the total cost of the currency including all the fees. You can either go to each site and get a quote with each company or use an exchange rate comparison table that includes not just exchange rates, but any service fee too. While price is important, it’s not the only difference between these […]

Can You Get Coronavirus from Handling Foreign Currency Notes and Coins?

Can you get coronavirus from handling foreign currency notes and coins?

  The COVID-19 pandemic has swept across the world, making it hard to work out what is safe to touch without risk of contracting the coronavirus. If you need to handle bank notes or coins from overseas, can you be sure it’s completely safe? How long Coronavirus lasts on different surfaces depends on the material you are touching. Touching a surface made of copper is different to touching plastic or cardboard. Research from the University of California (UCLA) has given some insight into how long the virus remains on different surfaces. They discovered that COVID-19 was still detectable on different […]

AUD in GFC style freefall dropping 10 cents in 10 days

In short The AUD is collapsing against the US dollar, Euro and Yen Money is flooding into US dollars as investors seek the safety of ‘safe haven’ assets The Australian dollar has reached parity with the New Zealand dollar Time Open Low High Today 0.5739 In the last week 0.5530 0.6315 In the last month 0.5530 0.6710 The Australian dollar is in free fall. In scenes reminiscent of the Global Financial Crisis, the Aussie dollar crashed to 55 cents before making a minor recovery to end the day just above 57 cents. The AUD to USD exchange rate has fallen […]

Alternatives to Travelex

4 Alternatives to Travelex with Awesome Exchange Rates

  Travelex is Australia’s biggest currency exchange service but they are not your only choice. Here are 4 currency exchange providers like Travelex that have some of the best exchange rates in Australia. S Money Crown Currency Travel Money Oz Unimoni

Records smashed as Australian dollar sinks to new lows

In short The AUD/USD drops under 60 cents for the first time since 2003 The Australian dollar is also falling against other major currencies The RBA is likely to announce and interest rate cut and additional stimulus tomorrow Time Open Low High Today 0.5970 In the last week 0.5969 0.6533 In the last month 0.5969 0.6732 The Australian dollar smashed through 60 cents today, hitting a fresh 17 year low. The AUD/USD has not been this low since 2003. It has dropped off a cliff in the last week as money has flooded into ‘safe haven’ currencies like the US […]

Australian dollar plummets to lowest level since 2003

In short The AUD/USD falls to a 17 year low, finishing the week below 62 cents The US dollar is strengthening as investors seek the shelter of ‘safe haven’ assets Risk will likely dictate the direction of the Australian dollar Time Open Low High Today 0.6184 In the last week 0.6130 0.6682 In the last month 0.6130 0.6732 On Friday, the USD dollar got stronger, pushing the AUD to USD exchange rate to a 17 year low. It finished a remarkable week with the Aussie dollar fell more than 5 cents which has not been seen since the GFC. The […]

Australian dollar falls 1 cent as governments roll out stimulus measures to combat COVID-19

In short Markets rally on the back of announced stimulus measures USD strengthens forcing AUD/USD down 1 cent AUD falls against the Euro and NZ dollar but flat against the pound and yen Time Open Low High Today 0.6491 In the last week 0.6472 0.6681 In the last month 0.6464 0.6748 The Australian dollar has fallen more than 1 cent agains the US dollar. The US dollar strengthened after Donald Trump announced measures the US government would take to stimulate the economy. This includes tax cuts, loans and financial relief. These measures are aimed at boosting the economy as it […]

Australian dollar is so low

3 big reasons the Australian dollar is so low

  There are 3 main reasons the Australian dollar is so low and they are all have one thing in common – China. China is Australia’s largest trading partner, not just for commodities like iron ore and coal but also for our other important exports like tourism and education. The impact of the coronavirus in China has disrupted the Chinese economy, lowering the demand for commodities Chinese student and tourist numbers have drastically fallen Market panic has made ‘safe haven’ currencies like the US dollar stronger and ‘commodity’ currencies like the Aussie dollar weaker One of the main reasons the […]

Australian dollar recovers after a flash crash to 63 cents

In short Australian dollar ‘flash crash’ sends it to an 11-year low for 20 seconds Traders blame the crash on algorithmic trading platforms Panic hitting markets has increase volatility Time Open Low High Today 0.6597 In the last week 0.6472 0.6655 In the last month 0.6464 0.6748 The Australian dollar collapsed more than 5% in 20 minutes as a mixture of panic and programmatic trading brought the exchange rate tumbling. It did recover to finish the day close to where it began. If you ever wondered what would happen if someone lobbed a hand grenade into a bloodbath, now you […]

Aussie dollar continues to bounce higher as US dollar weakens

In short AUD/USD moves higher after a surprise interest rate cut in the US AUD/NZD hits a 4 month high Stronger than expected Q4 GDP data released yesterday Time Open Low High Today 0.6625 In the last week 0.6464 0.6637 In the last month 0.6464 0.6771 The AUD/USD has bounced higher in the last 48 hours moving more than 1 cent higher against the US dollar. The gains have largely been driven by a weaker US dollar. Yesterday, the market was surprised when the US Federal Reserve held an emergency meeting and cut interest rates. It spooked markets, sending the […]

Interest rates fall in direct response to the coronavirus

In short The RBA cuts interest rates by 0.25% to 0.50% In the first paragraph of the statement, the central bank states that it “took this decision to support the economy as it responds to the global coronavirus outbreak.” The Australian dollar went up marginally but is still between 65 and 66 cents Time Open Low High Today 0.6555 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Reserve Bank of Australia cut official interest rates from 0.75% to a new historic low of 0.50%. It was in direct response to COVID-19 outbreak and they stated […]

Australian dollar drops under 65 cents as pandemic fears move markets

In short The AUD/USD fell below 65 cents as soon as markets opened Monday morning It’s the first time the Australian dollar has gone under 65 cents since the GFC It’s a big week for the Australian dollar with the RBA meeting tomorrow Time Open Low High Today 0.6468 In the last week 0.6464 0.6621 In the last month 0.6464 0.6770 The Australian dollar was hammered last week, hitting an 11 year low but holding above 65 cents. As soon as foreign exchange markets opened this morning, that trend continued as the local currency fell below 65 cents for the […]

AUD heads below 66 cents as virus fears grip markets

In short AUD USD falls below 66 cents for the first time since the GFC The Australian dollar has held up against the other major currencies Little economic data out this week Time Open Low High Today 0.6599 In the last week 0.6587 0.6706 In the last month 0.6587 0.6821 The AUD/USD has spent this week trading either side of 66 cents. It has been slipping lower against the US dollar for a few weeks as coronavirus fears increase. Interestingly, the Australian dollar has not fallen against all currencies. In fact, it has largely remained unchanged against the Euro, British […]

The Aussie dollar opens the week above 67 cents. But how long will it last?

In short The AUD/USD starts the week just above 67 cents The Australian dollar is up against the Euro, down against the British pound and flat against the NZ dollar and Yen Australian employment data out Thursday Time Open Low High Today 0.6725 In the last week 0.6672 0.6750 In the last month 0.6663 0.6887 Currency markets started the week how then ended it – fairly flat and quiet. The Australian dollar has barely moved against the US dollar or any of the major currencies in the last few days. This is because there has not been any unexpected news […]

AUD/USD fails to rebound back above 67 cents

In short The AUD/USD rose above 67 cents yesterday before falling again Coronavirus fears appear to be driving risk sentiment AUD/NZD hits a 2 month high Time Open Low High Today 0.6685 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Australian dollar rebounded above 67 cents briefly yesterday before falling back overnight. Any gains for the AUD/USD exchange rate have been limited since the outbreak of the coronavirus last month. The AUD was largely flat against most of the major currencies except the AUD/NZD, which has hit a 2 month high above 1.0450. This seems […]

Australian Dollar hits lowest point since 2009

In short The Australian dollar is at its lowest point against the US dollar since 2009 Falling commodity prices and concerns over the coronavirus have weighed heavily against the AUD RBA Governor Lowe to speak again this week Time Open Low High Today 0.6673 In the last week 0.6663 0.6771 In the last month 0.6663 0.6927 The Aussie Dollar has fallen to its lowest AUD/USD exchange rate since 2009. A weak session on Friday was enough to send the local currency to fresh 11 year lows as concerns over the coronavirus weighed on markets and the Australian currency. The RBA […]

US Currency

Currency in the USA

A Savvy Travellers Guide to the US Currency You’ve got that epic holiday in the US planned. It’s been in the works for ages and you’ve been saving for it like mad. Naturally, you want your money to go as far as possible. But there’s no need to whittle away those important savings on unnecessary fees and poor rates that often accompany money exchanges. This guide provides you with a thorough overview of the US currency so you know not just the ins and outs of the greenback but also how to get the best value during your time Stateside. […]