What is AUD/USD exchange rate?

Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally. The AUD/USD exchange rate gives you the amount of US dollars that you will receive for each Australian dollar that you convert (or sell).

How are exchange rates quoted?

Any exchange rate can be quoted two ways, for example, Australian dollars (AUD) for a unit of foreign currency, or a unit of foreign currency for an Australian dollar. Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally.

How does Oanda currency calculator work?

OANDA's currency calculator tools use OANDA Rates™, the touchstone FX rates compiled from leading market data contributors. These values represent the daily average of the Bid and Ask rates OANDA receives from many data sources. Our API can be integrated into your ERP, giving you access to accurate, historical FX data and rates.

Why do exchange rates matter to Australia's economy?

Exchange rates matter to Australia’s economy because of their influence on trade and financial flows between Australia and the rest of the world. The Reserve Bank does not target exchange rates, but it does take them into account when setting monetary policy.