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Money and Tax Advice for Australia

Exchange Rates

The Australian Dollar is divided into 100 cents

  • 1 US Dollar = 1.00607 AUD Dollar
  • 1 British Pound = 1.60275 AUD Dollar
  • 1 Euro = 1.28177 AUD Dollar
  • 1 New Zealand Dollar = 0.771401 AUD Dollar

The exchange rates are correct as at May 2012.

Bank Accounts

Opening a bank account in Australia is necessary if you want to work for agencies or established businesses. To do this you will need your passport and a permanent address.

Getting a permanent address

Permanent addresses are defined differently depending on the bank, but most travellers use either a PO Box, a holding address, a hostel address, or the address of a friend in Australia.

If you are looking for more general advice on travelling then visit our planning section where you can get advice on money, visas, insurance, travel safety and what to take when you are going backpacking and travelling.