After a rough couple of weeks for the Australian Dollar, let's see how it's
recovered in your weekly update.
Let's get straight into what you need to know.
Here are the exchange rates between the Australian dollar and other major currencies.
Next, we'll look at the average Bank rates you might be offered
for transferring money overseas or exchanging currency for a trip.
When we look at the percentage difference, we can see that the exchange rate is pretty far
from what you actually get offered by banks.
Time to have a look at the Aussie Dollar
over the last week so we'll compare it against the US dollar.
For the first time in a while the Aussie didn't drop below 75 US cents last week.
The US dollar has weakened due to trade tensions, giving the Aussie a chance to go back up.
Currently sitting in about 75 US cents it's slightly higher than its
11 month low earlier this month. Still a long way from its peak in
January it has started to edge higher in the last seven days.
The last thing we'll do is have a look at what is being forecast for the Australian dollar by
the end of 2018.
In the last week the banks have not revised their forecasts
for the Australian dollar. After reducing their more optimistic forecasts in the
last couple of weeks, they generally see it either staying the
same or dropping against most major currencies.
You know what I'm going to say next. If this video was helpful please subscribe
to our channel. We post weekly updates about the Australian dollar and we have
videos about international money transfers, tutorials and company reviews.
If you head to our website thecurrencyshop.com.au
you can compare
exchange rates for currency exchange and international money transfers.
Have a great week!