Lexi Webster
Australia's currency is the Australian dollar (AUD), which is made up of polymer notes in denominations of $5, $10, $20, $50, and $100. The exchange rate of AUD to other currencies, such as USD, can vary over time. For example, the USD-to-AUD exchange rate has seen highs and lows over the last 30 and 90 days, impacting the value of the Australian dollar. Travellers to Australia are advised to research the current exchange rates and be aware of any fees or markups associated with currency conversion and card usage abroad.
| Characteristics | Values |
|---|---|
| Currency | Australian Dollar (AUD) |
| Denominations | $5, $10, $20, $50, $100 notes; 5, 10, 20, 50 cents, $1, $2 coins |
| Exchange Rate (AUD to USD) | $1 AUD = $0.67 USD |
| Exchange Rate (USD to AUD) | $1 USD = $1.40 AUD |
| 30-day Average (USD to AUD) | 1.5840 |
| 90-day Average (USD to AUD) | 1.5865 |
| 30-day Average (AUD to USD) | 0.6317 |
| 90-day Average (AUD to USD) | 0.6305 |
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What You'll Learn
Exchange rate history: USD-AUD
The Australian dollar is a popular currency for exchange, with the AUD to USD rate being the most popular. The currency code for the Australian dollar is AUD, and its symbol is $.
Various online tools allow users to track the USD to AUD exchange rate over time. For example, the Xe website provides live tracking and notifications, flexible delivery and payment options, and rate alerts for when a specified rate is achieved. Similarly, Wise's currency converter allows users to analyse historical exchange rates, tracking trends and discovering how currencies have fluctuated.
These tools can provide data on the USD to AUD exchange rate over daily, monthly, and yearly periods, with some sources claiming to have data for over 20 years. This allows users to see how rates have changed over the last day, week, month, or even the last 500 rates.
It is important to be cautious of bad exchange rates, as banks and traditional providers may have extra costs that are passed on to the customer through marked-up exchange rates.
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Live exchange rates
The currency in Australia is the Australian dollar, denoted as AUD. The AUD is made up of polymer (plastic) notes in denominations of $5, $10, $20, $50, and $100. Coins are in 5, 10, 20, and 50 cent denominations, as well as $1 and $2 coins.
When it comes to live exchange rates, it's important to note that these rates fluctuate and you may see different rates depending on the source and timing. Here are some examples of live exchange rate values for the AUD against some other currencies:
AUD to USD
The Australian dollar to US dollar (AUD/USD) exchange rate has seen fluctuations. As of my last update, the 30-day performance showed a high of 0.6491 and a low of 0.5955, resulting in an average of 0.6317. Over a 90-day period, the high was 0.6491, the low was 0.5955, and the average was 0.6305.
USD to AUD
Conversely, looking at the US dollar to Australian dollar (USD/AUD) exchange rate, we see different values. The 30-day performance had a high of 1.6794 and a low of 1.5450, making the average 1.5840. For the 90-day period, the high was also 1.6794, while the low was the same at 1.5450, bringing the average to 1.5865.
It's worth noting that banks and traditional providers might advertise free or low-cost transfers, but they often add hidden markups to their exchange rates, ultimately charging you more. Using a service like Wise can help you obtain the mid-market exchange rate and make more significant savings on international money transfers. Additionally, before travelling to Australia, it's advisable to contact your bank to inform them of your plans and inquire about any partnerships they may have with Australian banks to avoid unnecessary charges when using ATMs overseas.
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Credit card fees
- Small businesses processing less than $1 million in card transactions a year: 0.2% to 0.5% for Visa Debit, 0.5% to 1.5% for Visa Credit, and 1% to 2% for American Express.
- Large businesses processing more than $1 million in card transactions a year: 0.3% to 0.6% for Visa Debit, 0.6% to 1.6% for Visa Credit, and 1.1% to 2.1% for American Express.
The average cost of acceptance for Visa Debit is 1%, while for Visa Credit, it is 1.5%. Merchants are allowed to surcharge any of the cards covered by the RBA's standard up to the average percentage cost of acceptance in their annual statement for that card type. If a merchant surcharges two or more payment methods at the same rate, they must set the surcharge at the lowest cost among those payment methods. For example, if a merchant pays 1% for Visa Debit transactions and 1.5% for Visa Credit transactions, they can set a 1% surcharge for both payment methods since this is the lowest surcharge they can set for a single card payment type.
Additionally, businesses can set a minimum amount for card payments and apply a surcharge for card payments below a certain amount. For instance, they can charge a 10-cent surcharge for card payments under $10. However, they must ensure that the surcharge is not more than what it costs them to process that payment type and that it complies with the ban on excessive surcharges.
When it comes to credit card fees for individuals, some of the common fees charged by CommBank include monthly fees, annual fees, cash advance fees, overlimit fees, and fees for transactions with overseas merchants. The monthly fee for CommBank Neo and CommBank Neo Business credit cards ranges from $15 to $25 per month, depending on the credit limit. For Ultimate Awards credit cards, there is no monthly fee if the cardholder spends at least $4,000 in the statement period; otherwise, a $35 monthly fee applies. Annual fees are charged in advance and are non-refundable, even if the card is switched or closed before the time period expires. Cash advance fees are typically $4.00 or 3.00% of the transaction amount, whichever is greater, with a maximum cap of $300. Overlimit fees apply when cardholders exceed their credit limit in a statement period. Finally, there may be additional fees when transacting with overseas merchants, including foreign currency conversion fees by Mastercard or Visa.
Exchange Rates: 50 Australian Dollars to American Dollars
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Debit card fees
As of May 2025, the Australian dollar (AUD) exchange rate is 1 AUD to 0.71 USD. Banks often add hidden markups to exchange rates, so it is important to be aware of this when transferring money.
In Australia, debit card surcharges are common, with businesses allowed to apply a surcharge to cover the cost of processing card payments. These surcharges are typically between 0.5% and 1.5% of the purchase amount. The Reserve Bank of Australia sets out the costs that businesses can include when determining their costs of accepting debit card payments. The average cost of acceptance for Visa debit is 1%.
The Australian government has recognised the burden that these fees place on consumers, with the cost to Australians of card surcharges estimated at almost $1 billion per year. In October 2024, the federal government announced funding of $2.1 million to "tackle excessive surcharges" and reduce payment fees. As a result, surcharges on debit card payments for frontline government services at the Australian Taxation Office and Services Australia will be stopped from 1 January 2025.
In addition, Prime Minister Anthony Albanese announced that the government is preparing to ban debit card surcharges from 1 January 2026. This delay is to allow for a review of Australia's card payment system and to ensure that small businesses and consumers are not negatively impacted by the changes.
Businesses that charge a payment surcharge must be able to prove the costs it is based on. If there is no way to pay without a surcharge, the business must include it in the displayed price.
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Using ATMs in Australia
The currency used in Australia is the Australian dollar, denoted by the symbol $, and abbreviated as AUD, A$ or AU$. The Australian dollar is the fifth most traded currency in the world, and is also the legal tender in three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. It is subdivided into 100 cents, with the smallest coin denomination being 5 cents.
When using ATMs in Australia, there are a few things to keep in mind. Firstly, most ATMs in Australia will accept UK debit or credit cards, such as Mastercard and Visa. However, it may be more challenging to use cards like Amex or Diners Club. Some Australian ATMs, particularly those owned by ANZ, also support contactless technology, allowing you to tap your card instead of inserting it. Regardless, you will still need to enter your PIN.
It is important to be aware of the fees associated with ATM usage in Australia. You will typically be charged twice: by the Australian bank and by your home bank. Additionally, Australian banks charge non-customers, including those using foreign cards, a fee for using their ATMs. This is usually around AUD$2 per transaction. Private ATMs often charge even higher fees, so it is advisable to avoid them if possible. You can identify private ATMs as they do not bear the name and logo of a specific bank. Furthermore, beware of ATMs that offer to convert the transaction to your home currency, as they may apply an unfavourable exchange rate. To avoid this, always opt to be charged in Australian dollars.
To minimise ATM fees, check if your bank has a partnership with any Australian banks. For instance, Westpac, Australia's second-largest bank, is part of the Global ATM Alliance, which includes banks like Barclays, Bank of America, and Deutsche Bank. If your bank is part of this alliance, you can make withdrawals from partner ATMs without incurring local ATM fees. Additionally, consider opening a bank account in Australia, especially if you plan to make frequent or large withdrawals. With an Australian bank account, you can use services like Wise to transfer money at the mid-market rate and make ATM withdrawals with your Australian debit card without incurring currency conversion charges.
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Frequently asked questions
The currency used in Australia is the Australian dollar (AUD).
AUD comes in polymer (plastic) notes of $5, $10, $20, $50 and $100. Coins are in 5, 10, 20 and 50 cent denominations as well as $1 and $2 denominations.
The exchange rate varies, but generally, the USD is about $0.09-$0.40 stronger than the AUD. This means $1.00 USD is equal to approximately $1.40 AUD on average. As of June 2024, $1.00 USD is equal to $1.52 AUD.
Credit card issuers commonly charge anywhere from 1% to 3% for purchases made in other countries. Debit cards normally have lower fees, but it is always good to check with your bank about all your options. It is also a good idea to inform your bank that you will be travelling and using your card overseas, so your card is not put on hold.
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