|
Contrary to popular opinion there is no "official" exchange rate. The rate that is quoted on the TV is the rate that the AU$ is trading at on the wholesale market, which is only accessible for very large trades by money market dealers.
Otherwise it is what the bank you are dealing with is willing to give you, and naturally they set rates to make a profit.
We have found that the best rate is usually using your normal credit card while OS. Those travel card are IMHO not a good idea as the rate is not good, you pay a fee to load it as well, and when my stepdaughter had one in Europe, she found it was hard to use as many merchants wanted photo ID and there was no name on the card so they wouldn't accept them!
Malcolm
|