Currency
Coming from Overseas? Use our currency converter
to get a conversion for your currency.
The national currency of Australia is the Australian dollar
($AU). One Australian dollar = 100 cents. Coins in circulation
are 5c 10c 20c 50c $1 and $2. Bank notes in circulation are
$5 $10 $20 $50 and $100... The bank notes are space age plastic
bills in enthusiastic colours that sport clear windows
and holograms!
Australian currency is the only legal tender... Most foreign
currencies and travellers cheques are easily exchanged in
banks and exchange offices. Major hotels often have exchange
facilities. A Goods and Services tax (GST) of 10% was introduced
on July 1st 2000 for transactions within Australia.
As a general rule, it will be cheaper for you to convert
money in Australia... but if possible bring enough
Australian dollars to
last for the
first 24 - 72 hours of your trip this avoids being penniless
on arrival or after banking hours or on a holiday
In the U.S., International
Currency Express: 888 278 6628 will deliver foreign
currency for over 120 countries or traveller's cheques
to your home overnight (US$15) or second-day (US$12)
at
competitive exchange rates.
Watch out for commission rates, and check newspapers for
the standard rate of exchange. When changing money in Australia,
try to go only to banks or currency exchange bureaus that
have at most a 5% margin between their buy and sell prices.
The largest and most widespread banks in Australia are:
Since you lose money with every transaction, convert cheques
in the largest practical demoninations... but no more than
you'll need. In fact, using an ATM or a
credit card often gets you the best possible rates.
When you use traveller's' cheques or bills in your home
currency, carry some in small denominations (the equivalent
of US$50
or less) for those times when you may be forced to exchange
money at disadvantageous rates, but bring a range of denominations,
since charges may be levied per cheque cashed. Store your
money in a variety of forms... ideally, you will at any given
time be carrying some cash, some traveller's' cheques, and
an ATM card and/or credit card.
Currency exchange outlets are open usually from Monday to
Friday 9.00am to 6.30pm or 7.00pm, and on Saturdays 9.00am
to 7.00pm at major airports and exchange bureaus in major
tourist destinations. Some are also open on Sundays.  |
