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:

• ANZ
• Commonwealth Bank
• National Australia Bank
• Westpac

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.