Damon Mcknight
The exchange rate between the US dollar and the Australian dollar is constantly changing. As of April 2025, 120 US dollars were worth between 187.24 and 188.62 Australian dollars. In the 30 days prior to April 2025, the USD-to-AUD exchange rate saw a high of 1.6688 and a low of 1.5670, with an average of 1.5967.
| Characteristics | Values |
|---|---|
| Date | 23 April 2025 |
| 120 USD in AUD | 188.6197 AUD |
| 1 USD in AUD | 1.57183 AUD |
| 1 AUD in USD | 0.636201 USD |
| 30-day high | 1.6688 |
| 30-day low | 1.5670 |
| 30-day average | 1.5967 |
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What You'll Learn
120 USD is approximately 188 AUD
As of April 23, 2025, 120 US dollars are worth approximately 188 Australian dollars. The exact amount in AUD is 188.6197, according to the mid-market rate. This rate is the one you'll find on Google or Reuters and is typically unavailable to consumers. The rates advertised by banks and foreign exchange services usually include a markup.
The USD to AUD exchange rate has been volatile in the past 90 days, with a high of 1.6688 and a low of 1.5619. This means that on certain days within this period, 120 USD would have been worth more or less than approximately 188 AUD.
The Australian dollar is the official currency of Australia and its external territories: Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. It is often referred to with the dollar sign ($) or the abbreviation "AUD" to distinguish it from other dollar-denominated currencies.
The US dollar, on the other hand, is the official currency of the United States of America. It is commonly abbreviated as US$ to distinguish it from other dollar-denominated currencies and is also referred to as a "buck."
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The 30-day average for USD to AUD is 1.5967
As of April 23, 2025, 120 US dollars were worth 188.6197 Australian dollars. This is calculated using the mid-market rate of 1 USD to 1.57183 AUD.
However, the exchange rate fluctuates, and the 30-day average for USD to AUD is 1.5967. This means that over the last 30 days, the USD to AUD exchange rate has averaged 1.5967. This average is calculated by taking the average of the exchange rates over the past 30 days, giving a weighted average that reflects the rate at which USD has been exchanged for AUD during this period.
The 30-day average helps to smooth out the short-term fluctuations in the exchange rate and provides a more stable indication of the value of USD in terms of AUD. It is a useful reference point for individuals and businesses who need to exchange currencies or make international payments. By using the 30-day average, they can get a sense of the typical exchange rate over a longer period, rather than just looking at the current rate, which may be unusually high or low.
Additionally, the 30-day average can be used to identify trends in the exchange rate. For example, if the 30-day average has been increasing over time, it could indicate that the value of USD is strengthening relative to AUD. This information can be valuable for businesses and investors who need to make decisions about currency exchange and international investments.
The 30-day average of 1.5967 for USD to AUD indicates that, on average, 1 USD has been exchanged for approximately 1.5967 AUD over the past 30 days. This average rate can provide a benchmark for individuals and businesses who need to exchange currencies, helping them to make informed decisions about the timing of their transactions and the expected value of their currency exchanges.
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The 90-day average for USD to AUD is 1.5961
The 90-day average exchange rate of USD to AUD is a useful indicator of the general trend in the exchange rate over a longer period than just a few weeks or a month. This can be helpful for those looking to understand the broader movement of the exchange rate to decide when to exchange their currency.
However, it is important to note that this 90-day average does not represent the actual exchange rate at any given time within that 90-day period. Exchange rates fluctuate continuously, and the actual rate at which 120 USD would be exchanged for AUD would depend on the specific date of the transaction.
For example, the 90-day high for USD to AUD was 1.6688, while the 90-day low was 1.5619. This means that, on the strongest day for the US dollar in the last 90 days, 120 USD would have been worth 199.46 AUD, whereas on the weakest day, the same amount would have been worth only 187.43 AUD.
Therefore, while the 90-day average of 1.5961 provides a useful benchmark, it is still important to check the current exchange rate before making any currency exchanges to ensure you are getting a fair deal.
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The mid-market rate is used for conversion
When converting currencies, it is essential to understand the concept of the mid-market rate. This rate, also known as the interbank rate, is the "realest" and fairest exchange rate available. It is the rate that banks and international brokers use when transferring money between each other. Essentially, it is the midpoint between the price a banker is willing to pay for a currency and the price at which they are willing to sell it. This rate is influenced by various external economic factors, resulting in constant fluctuations as currencies are traded globally on the foreign exchange market.
While the mid-market rate is widely recognised as the most accurate representation of a currency's value, it is important to note that different organisations use different datasets to calculate it. As a result, the mid-market rate can vary slightly depending on the source. Nevertheless, it remains a reliable benchmark for currency conversion.
When converting 120 USD to AUD, using the mid-market rate ensures you receive the most accurate and fair exchange rate available at that time. This rate is free from hidden markups or additional fees that some banks and currency exchange providers may add. By tracking the mid-market rate, you can make informed decisions about when to convert your currency to get the best value for your money.
To illustrate, let's consider the mid-market rate for converting 120 USD to AUD as of April 27, 2025: 120 USD is equal to approximately 176.42 AUD. This rate may differ slightly from what banks or other providers offer, but it serves as a transparent and unbiased reference point. By comparing the mid-market rate to other providers' rates, you can identify any hidden fees or markups and make a more informed decision about your currency conversion.
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Banks may add hidden markups to exchange rates
As of April 27, 2025, 120 Australian dollars are equal to 76.819689 US dollars. However, the exchange rate you receive from banks may be different due to hidden markups.
Banks may advertise free or low-cost transfers, but they often add hidden markups to their exchange rates. This means you may be charged more without your knowledge. These hidden fees can add up, leaving you with less than you expected. For example, Visa adds a markup of around 0.5% to all transactions made on their cards abroad. In addition, if they charge a fee, you may be charged twice.
To avoid these hidden fees, you can research the interbank rate before comparing providers. This will allow you to easily compare the monetary cost of exchanging your desired volume of currency between different providers. For example, if you want to exchange $120 USD to AUD, you can first find the interbank rate, and then compare how much different providers will charge you for the same exchange. This way, you can identify any hidden markups or fees added by banks or other providers.
To receive a more competitive exchange rate, you may want to consider using a specialized foreign exchange company instead of your local bank. These companies buy foreign currency in bulk, allowing them to take advantage of lower exchange rates. As a result, they can offer their customers significantly lower exchange rates than those offered by banks. For example, Rahim Madhavji, President of KnightsbridgeFX.com, states that their company's markup is only 0.5% on average, resulting in savings of 1.5%-2.5% for their clients compared to the big banks.
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Frequently asked questions
As of April 2025, 120 US dollars are worth approximately 188.62 Australian dollars.
As of April 2025, 1 USD is equal to 1.57183 AUD.
The 30-day average exchange rate of USD to AUD is 1.5967.
The 90-day high of USD to AUD is 1.6688.
The 30-day low of USD to AUD is 1.5670.
