Here are a few of the things we love the most about this vibrant city located in the state of Victoria, Australia:
Overall, Melbourne is a fantastic holiday destination for those who want to experience great food, culture, sports, nature, and shopping.
What currency will I need?
The Australian dollar (AUD) is the official currency of Australia and its territories, including Christmas Island, Cocos Islands, and Norfolk Island. It is also used as legal tender in the Pacific island nations of Kiribati, Nauru, and Tuvalu.
The Australian dollar is abbreviated as AUD or A$ and is subdivided into 100 cents. The coins in circulation are 5, 10, 20, 50 cents, and AUD $1 and $2. Banknotes are available in denominations of AUD $5, $10, $20, $50, and $100.
The Reserve Bank of Australia is responsible for issuing and regulating the Australian dollar. The exchange rate of the Australian dollar is affected by various factors, such as the country’s economic performance, interest rates, and global events.
Australia has a highly developed and diversified economy, and the Australian dollar is one of the most traded currencies in the world. It is often used as a benchmark currency in commodity trading, especially for gold and iron ore, which are major exports of Australia.
Overall, the Australian dollar is a stable and widely accepted currency, and it has been consistently ranked among the top 10 most traded currencies in the world.
Should I use travel cash or a card?
According to Mintel, 90% of British travellers take some travel cash with them. It’s perfect for tips, taxis, street-side vendors and locations which do not have card machines (or where they are not working). It’s easy to budget with, and share with other members of your party. It’s also not prone to technical faults, does not require internet access, and you won’t be charged to use it.
Having a debit card is also a great idea as backup – just make sure you know what fees the card issuer charges to make payments in the foreign currency (better still, find one that makes no charges at all). Bigger purchases should be made on a travel-friendly UK-issued credit card to get that additional Section 75 protection (see https://www.moneyhelper.org.uk/en/everyday-money/credit-and-purchases/how-youre-protected-when-you-pay-by-card). Make sure when paying by card that you ALWAYS pay in the foreign currency – do not let the card processor do the conversion to GBP as you will always get a worse rate. That applies even if the foreign currency is already loaded onto a prepaid multi-currency card – the card issuer will decide whether to settle from your foreign currency wallet or not.
Where can I buy currency?
You will typically get a better deal buying your travel cash here in the UK before you travel. Look for the highest possible foreign currency exchange rate to indicate the best deal. For example, a rate of AU$1.8496 is better than AU$1.7436 when buying Australian Dollar (AUD). Airports tend to offer the worst rates – especially if you have not pre-ordered – and you may find a bureau de change on your High Street, in a supermarket or department store, in many travel agents, and at major transport hubs.
You can also buy Australian Dollar from Travel Money Club for next business day despatch to home via fully insured Royal Mail Special Delivery Guaranteed by 1pm. Unlike the competition, we don’t hide fees and charges in our exchange rates – you just pay a fair and transparent handling fee based on how much you are exchanging. Get an instant quote now at https://yourtmc.link/quote-aud.
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