Damon Mcknight
The Australian dollar (AUD) and the US dollar (USD) are among the most traded currencies in the world. The Reserve Bank of Australia (RBA) calculates and publishes the Trade Weighted Index (TWI) annually, based on the composition of Australia's merchandise goods and services trade for the previous fiscal year. The AUD-USD exchange rate has seen fluctuations over time, with the 30-day average at 0.6330 and the 90-day average at 0.6307. Currency converters and charts provide valuable tools for tracking and comparing exchange rates, allowing individuals and businesses to make informed decisions when transferring funds between these two currencies.
| Characteristics | Values |
|---|---|
| Australian Dollar Currency Code | AUD |
| Australian Dollar Symbol | $ |
| US Dollar Currency Code | USD |
| US Dollar Symbol | $ |
| Lowest AUD/USD Exchange Rate in 2023 | 1 AUD = 0.6288 USD |
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What You'll Learn
Australian Dollar to US Dollar exchange rate history
The Australian dollar and the US dollar are among the most popular traded currency pairs in the world. The AUD-USD exchange rate has fluctuated over the years, with several factors influencing its movement.
On 11 April 2025, the AUD-USD exchange rate was 0.64814, marking a 0.01% increase over the past 24 hours. The rate has experienced volatility, with a significant buying reaction at 0.64470. The highest rate in the last three months was recorded, with an imbalance due to low volume.
Over the past year, the AUD-USD exchange rate has decreased by -2.18%. The average exchange rate for the last six months was 1 AUD to 0.6324 USD. The highest rate in the last five years was on 8 November 2024, when 1 AUD was worth 0.6675 USD.
On the other hand, the lowest rate in the last five years was recorded on 9 April 2025, with 1 AUD worth 0.5955 USD. The rate has experienced weekly fluctuations, with a high of 0.651 on 6 May 2025 and a low of 0.636 on 30 April 2025. The largest 24-hour price movement occurred on 30 April 2025, with a 0.598% increase in value.
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Best money transfer providers
When it comes to transferring money between the US and Australia, there are a variety of options available, each with its own advantages and considerations. Here are some of the best money transfer providers for transferring money between the two countries:
Wise
Wise (formerly known as TransferWise) is a popular choice for transferring money between the US and Australia. They offer competitive exchange rates, transparency in fees, and a user-friendly platform. Wise is regulated in the UK, Australia, and the US, ensuring compliance with financial regulations. Their mid-market exchange rate and upfront fee disclosure set them apart from traditional banks that may hide markups in exchange rates. Wise also provides convenient payment options, such as debit or credit cards, bank transfers, and direct debits.
OFX (OzForex)
OFX is a well-known international money transfer provider that offers its services in over 197 countries and supports 50 different currencies. OFX is particularly attractive for transactions above $10,000, as they waive the transfer fee for larger amounts. They also offer same-day transactions for the USA, forward contracts, spot deals, automated regular payments, and limit orders. OFX is regulated in Australia and holds an Australian Financial Services Licence (AFSL).
CurrencyFair
CurrencyFair is an excellent option if you want to optimise your transaction costs. They offer competitive exchange rates, fast transfers, and a low flat fee of $4 for international money transfers. CurrencyFair has local bank accounts in multiple countries, including Australia, which enables them to treat most transfers as domestic transactions, resulting in lower fees and faster processing times. They provide a dedicated Australian-based client services team for transfers over $20,000.
Send Payments
Send Payments is a regulated money transfer provider in Australia, overseen by ASIC and AUSTRAC. One of its standout features is that it does not charge a fee for transferring money, making it a cost-effective option for senders.
TorFX
If you prioritise telephone support throughout the money transfer process, TorFX is recommended for its comprehensive assistance from sign-up to making transfers.
WorldFirst
WorldFirst is a suitable choice for businesses or individuals seeking advanced features like forward contracts and regular payments. They also offer a multi-currency account, making it convenient for online business transactions in multiple currencies.
It is important to remember that the best money transfer provider depends on your specific needs, such as the amount you are sending, the speed of transfer, and the associated fees. Be sure to compare exchange rates, transfer fees, and the regulatory compliance of each provider before making your decision.
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Exchange rate trends
Historical context is crucial in understanding exchange rate trends. The AUD/USD exchange rate can be traced back to 1991, offering a comprehensive perspective on their long-term fluctuations. Over time, various tools and resources have emerged to facilitate the analysis of exchange rate trends, such as interactive charts and currency converters. These resources enable users to compare exchange rates over different periods, ranging from days to decades, and set rate alerts for specific currencies.
The Reserve Bank of Australia (RBA) plays a pivotal role in shaping exchange rate trends. The RBA annually recalculates the Trade Weighted Index (TWI), which reflects the composition of Australia's merchandise goods and services trade for the previous fiscal year. The exchange rate data published by the RBA, based on the TWI, offers valuable insights into the direction of the AUD/USD exchange rate.
Market forces and economic indicators also exert a significant influence on exchange rate trends. Factors such as interest rates, inflation rates, and the performance of each country's economy can impact the value of their respective currencies. For instance, a strong US economy could lead to a higher demand for US dollars, potentially causing the USD to appreciate relative to the AUD. Conversely, favourable economic conditions in Australia may enhance the attractiveness of the Australian dollar, leading to an appreciation against the US dollar.
It is worth noting that exchange rates can be subject to hidden markups and fees imposed by banks and traditional providers. These additional costs can result in less favourable exchange rates for individuals and businesses conducting currency exchanges. Therefore, it is essential to consider the mid-market rate, which serves as a more accurate reference point for international money transfers.
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Reserve Bank of Australia's Trade Weighted Index
The Australian dollar trade-weighted index (TWI) is a measure of the Australian dollar's value in comparison to a group, or 'basket', of foreign currencies. This basket is based on the currencies' share of trade with Australia. The TWI provides a broader measure of the Australian dollar's performance against the currencies of its trading partners than bilateral exchange rates.
The TWI is calculated using the merchandise goods and services trade data from the previous financial year. The Reserve Bank of Australia updates the TWI annually, and new weights for the Australian dollar TWI came into effect on 10 January 2025. The updated TWI included 18 foreign currencies, one more than the previous version, with the addition of the Swiss franc.
The Chinese renminbi has the largest weight in the TWI at 29 per cent, reflecting the significant trade relationship between Australia and China. The weight of the US dollar increased by 2.5 percentage points to 11 per cent in the 2025 update, moving it from fourth to second place in terms of its weight in the TWI.
The TWI has fluctuated since its inception in May 1970, when it was set at a baseline of 100. It reached an all-time high of 121.300 in January 1974 and a record low of 47.000 in September 2001. The TWI is updated and published monthly by the Reserve Bank of Australia.
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Hidden markups by money transfer companies
When transferring money from one currency to another, it is important to be aware of the various fees and charges that may be applied. While banks and money transfer companies often advertise free or low-cost transfers, they may also add hidden markups to the exchange rate, which can cost customers more in the long run.
Hidden markups in the exchange rate occur when banks and money transfer companies create their own exchange rates, which are different from the mid-market or interbank rate. This is the rate that banks use when exchanging currencies between themselves. By adding a markup to this rate, they can charge their customers more for the transfer.
For example, if the mid-market rate for 1 USD is 1.56323 AUD, a bank may add a 3% exchange rate markup, resulting in a rate of 1 USD = 1.61013 AUD. This means that the customer will receive less AUD for their USD than they would have if they had been given the mid-market rate.
These hidden markups can be difficult for customers to spot, as they may not be clearly disclosed by the bank or transfer company. Even when services claim to have zero fees, there may still be a hidden markup in the exchange rate. As a result, customers may end up paying more than they expected for their international money transfer.
To avoid hidden markups, it is important to compare the exchange rates offered by different providers and look for companies that offer the mid-market rate, such as Wise. Wise gives customers the real, mid-market exchange rate and charges a transparent fee upfront, so there are no nasty surprises. With a Wise Multi-Currency Card, customers can also spend and send money at the real exchange rate, without having to worry about hidden fees or markups.
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Frequently asked questions
The Australian dollar to US dollar exchange rate (AUD/USD) changes daily. You can check the current rate using a currency converter or exchange rate chart.
You can find an exchange rate chart on websites like Xe and Wise. These charts use live mid-market rates and let you compare historical rates for up to 10 years.
The mid-market rate is the midpoint between the buy and sell rates for a currency pair. It represents the current market value of a currency and is often used as a reference rate. While it can be useful for informational purposes, you typically won't receive this exact rate when sending money.
To get the best exchange rate, compare rates from multiple money transfer providers, including banks and online services like Wise. Rates can vary, and some providers may add hidden markups or fees. It's also helpful to monitor exchange rate trends and set rate alerts to take advantage of favourable rates.
The currency code for the Australian dollar is AUD, and the currency symbol is $. The currency code for the US dollar is USD, and its symbol is also $.
