Aussie dollar rebounds as coronavirus restrictions ease
Better exchange rates are on the cards for Australians making international money transfers as the Aussie Dollar regains strength amid coronavirus.
The latest figures reveal the AUD has made a comeback, now trading just above 0.65 US cents.*
In late March, the Aussie against the US Dollar slid below the 0.60 mark, after investor panic around coronavirus triggered a rush towards safe haven currencies, such as the USD.
But as the XE Currency Converter indicates, the AUD/USD currency pair has nearly bounced back to levels prior to this nosedive.
Yesterday, the Aussie Dollar also outperformed other major currencies, including the Euro (EUR), the British Pound (GBP) and the New Zealand Dollar (NZD).
These gains come as governments across Australia take their first steps to wind down social distancing measures.
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According to money transfer specialist OFX’s daily currency update, the AUD upturn reflects more positive investor sentiment.
“Market appetite for risk has improved through the last week as countries around the world begin loosening lockdown and social distancing restrictions,” as per the update.
The report added that Australia’s response to coronavirus - perceived as one of the more successful efforts to flatten the curve - could mean good news for economic recovery down the track.
“Our ability to combat the virus without going into full scale lockdown and level 4 restrictions means the domestic economy is well-placed to rebound in the wake of the pandemic.”
“[And] as Asia, led by China and Taiwan, appears to be kick-starting their own economic engines, there is hope the Asia/Pacific region could recover faster than other key economic areas.”
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Ready to send funds from Australia? Scroll down below for a list of foreign exchange rates available for AUD/USD.
Or if you’re looking to convert your dollars into other currencies, jump over to our international money transfer comparison table to explore your options today.
*Mid-market exchange rate, drawn from the XE Currency Converter, as of 10.31am, 29 April 2020.
I want to transfer
Today’s foreign exchange rates
- Excellent exchange rates, no transfer fees
- 24/7 transfers online, over the phone or through the TorFX app
- Personal account management and expert insights
$6,507 USD
IN PERSONn/a
BY PHONE$0
ONLINE$0$0.6507 USD
1-2 days
$200 minimum
- Send to 200+ countries and 100+ currencies globally
- Dedicated Australia-based client services team with personal account management for transfers over $20,000
- 48,000+ 5-star 'Excellent' ratings on TrustPilot
$6,494 USD
- IN PERSONn/aBY PHONE$0ONLINE$0
$0.6494 USD
1-3 days
none
- Transact online 24/7 with fast settlement & extremely competitive rates.
- Quick and easy account setup, supports multiple payment methods including debit/credit card, bank transfers and wire transfers.
$6,494 USD
- IN PERSONn/aBY PHONE$0ONLINE$0
$0.6494 USD
Within minutes
$0 minimum
- Competitive exchange rates and low fees to pay
- Enjoy instant transfers between Revolut users
- Go global and send to 100+ countries in 40+ currencies
$6,517 USD
- IN PERSONn/a
BY PHONEn/aONLINE$0 $0.6517 USD
Immediate
none - AUD $2,000 per month limit on fee free transfers on the Standard subscription tier
- Fee Free transfers
- Talk to a human, 24/7. Sharp Rates and Fast and Secure transfers.
- Australian owned, ASX listed and Official Foreign Exchange Provider of the NHL
$6,494 USD
- IN PERSONn/aBY PHONE$0ONLINE$0
$0.6494 USD
1-2 days
$250 minimum
$500 monthly minimum for regular transfers
* The exchange rates offered by each provider are indicative exchange rates that have either been supplied by each provider or gathered by Mozo. Exchange rates fluctuate constantly and as a consequence the exchange rates listed here may vary to the actual exchange rate you are quoted by a provider. Please ensure you confirm the actual exchange rate with the relevant provider prior to conducting any transaction. These exchange rates are updated every hour.
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