AFEX

AFEX

About AFEX

AFEX is a staple in the international money transfer market with a strong industry presence since 1979. It trades more than $15 billion in foreign exchange each year. AFEX has ten office locations globally and specialises in providing expert knowledge, management solutions and forward planning for businesses, industries, and individuals.

AFEX Foreign Exchange rates

Rates and fees verified as correct at 10 December, 2018. Other information correct at the time of writing.

Because AFEX’s reach is so enormous internationally, it can get its hands on pretty much all currencies major and exotic, except those embargoed internationally. Compare today’s rates in the table below and head to AFEX for further details:

Currency At today's AFEX Rate, 1 AUD buys* For 10,000 AUD recipient will get
United States Dollars (USD) USD
USD 0.7128 USD 7,128
Euros (EUR) EUR
EUR 0.6248 EUR 6,248
Great Britain Pounds (GBP) GBP
GBP 0.5601 GBP 5,601
Canadian Dollars (CAD) CAD
CAD 0.9491 CAD 9,491
Hong Kong Dollars (HKD) HKD
HKD 5.627 HKD 56,270
Japanese Yen (JPY) JPY
JPY 80.1642 JPY 801,642
New Zealand Dollars (NZD) NZD
NZD 1.0387 NZD 10,387
Singapore Dollars (SGD) SGD
SGD 0.9869 SGD 9,869
South African Rand (ZAR) ZAR
ZAR 10.2131 ZAR 102,131
Swiss Francs (CHF) CHF
CHF 0.7055 CHF 7,055

Must knows about transferring money with AFEX


AFEX Products and Services

AFEX have a range of IMT products for you to choose from for transferring and exchanging funds overseas. We’ve broken it down for you here below, but of course keep in mind that your Account Executive can give you plenty of advice on each type of transfer over the phone too.

Spot Value Contracts: Spot Value Contracts: 

These are the most popular contracts people use to transfer money overseas because they are quick and easy. Spot contracts or spot value contracts involve locking in the current rate AFEX are offering called a “spot rate”. You transfer the funds to AFEX by 3pm that day and within two days, your funds in appear in your nominated currency and bank account overseas. People use spot value contracts for things like paying international tuition fees, shifting funds when emigrating to another country and buying property overseas.

Exotic Currency Spot Value Contracts: Exotic Currency Spot Value Contracts: 

AFEX also offers spot contracts for exotic currencies, but there is a risk it won’t go ahead.

AFEX Forward Contracts: AFEX Forward Contracts: 

FX forward contracts are contracts to use if you want to plan ahead and spot a good rate now. Say you are emigrating to the UK in 6 months and the Aussie dollar is really strong against the GBP but tipped to weaken. You could enter into a forward contract with AFEX and take advantage of the current rate. To calculate your quote, AFEX will add something called “forward points” to the rate, which is a slight added percentage figure based on an estimate of how much the exchange rate will fluctuate between now and the transfer date. Keep in mind that sometimes these types of contracts require you pay a 10% deposit initially. Then on the agreed forward contract expiry date, you pay the rest. AFEX then exchanges the fund and sends them in the nominated currency to the bank account of your choice.

Exotic Forward Contracts: Exotic Forward Contracts: 

AFEX also offers forward contracts for exotic currencies, but there is a risk it won’t go ahead.


Why choose AFEX for your international money transfers?

As you’ve probably realised by now, AFEX is an expert in the field of IMT with plenty of options and contracts for all your FX needs. As well as having so many currencies regular and exotic to choose from and getting your very own Account Executive, AFEX has offices you can visit and expert staff to help you with management solutions. All these extras make AFEX a big player in the money transfer industry in Australia and internationally. Here are some other reasons why you might want to choose AFEX to exchange and transfer your money:


How to transfer money with AFEX

It’s easy to open an AFEX account. All you need to do is to fill out the online form which requires copies of your ID documents. An Account Executive will call you once you set up an account, but you have no obligation to proceed with an international money transfer. Once you’re account is up and running, you can login to AFEXDirect to start your FX transactions.


Compare International Money Transfer from major brands including:

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*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.