The currency market is notoriously volatile, with exchange rates fluctuating in response to a wide range of political, economic, social and environmental factors.
With both scheduled and unforeseen events having the potential to cause exchange rates to fluctuate by as much as 10% in a matter of days, you can’t rely on the currency market remaining stable for long.
But what difference does the exchange rate make to your currency transfers?
Well, over the past ten years the Australian Dollar to Pound (AUD/GBP) exchange rate has fluctuated between lows of 0.3777 and highs of 0.6925.
On a currency transfer of AU$100,000, that’s a difference of £31,480.
Similarly, the Australian Dollar to US Dollar (AUD/USD) exchange rate slumped to lows of 0.6049 and achieved highs of 1.1032 over the same period.
In this instance, on a transfer of AU$100,000, the movement in the rate would mean the difference of tens of thousands – in this instance US$49,830.
As knowing when the exchange rate has moved in your favour and moving your money abroad at the right time can make such a difference, we like to keep you updated with the latest developments.
At AUD News we provide Australian Dollar (AUD) exchange rate updates and currency forecasts for popular currency pairings, including the Australian Dollar to Pound (AUD/GBP), Australian Dollar to US Dollar (AUD/USD), Australian Dollar to Euro (AUD/EUR) and Australian Dollar to New Zealand Dollar (AUD/NZD).
Our team of expert currency analysts use fundamental analysis to assess what’s happening in Australia and the wider world and gauge the impact of economic developments on current and future exchange rate movements.
They’re also on hand to answer your currency queries so get in touch if you’d like more information on Australian Dollar (AUD) exchange rates.