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Simply order online and get it delivered to your door. Looking for the best Travelex exchange rates for you on your foreign currency? With our Travel Rate Tracker we'll send you an alert when your chosen currency has reached your desired rate. Foreign exchange can be confusing, so to help break through the confusion, here are some common terms associated with currency:. Sell rate β This is the rate at which we sell foreign currency in exchange for local currency. For example, if you were heading to Europe, you would exchange British Pounds for Euros at the sell rate.
Buy rate β This is the rate at which we buy foreign currency back from you into your local currency. For example, if you were returning from America, we would exchange your US Dollars back into British Pounds at the buy rate of the day. Holiday money rate or tourist rate β This is another term for a sell rate.
It is the rate banks or large financial institutions charge each other when trading significant amounts of foreign currency. Spread β This is the difference between the buy and sell rates offered by a foreign exchange provider such as us. Cross rate β This is the rate we give to customers who want to exchange currencies that do not involve the local currency.
Commission β This is a common fee that foreign exchange providers charge for exchanging one currency with another. The more in demand a currency is, the higher its price will be. Changes in the foreign exchange market can be caused by this supply and demand, as well as by political and economic events. Does it pay to shop around and compare currency rates? There are a lot of foreign currency providers in Australia, mainly high-street banks, all offering you a range of products and services.
