Australian Dollar price today

Australian Dollar Price For Iranians considering study or work migration to Australia, this is one of the key planning figures; university tuition, living costs and the proof of funds required for a visa are all calculated in this currency. On this page you can see the live price of the Australian dollar in Tehran's open market in Toman, and below you will learn about the features of this currency, its link to China's economy and the commodities market, and the factors that affect its Toman rate.

The Australian Dollar: The Currency of Mines and Exports

The Australian dollar (AUD) is the official currency of Australia, and each dollar is divided into 100 cents. It replaced the Australian pound in 1966, when Australia's currency was decimalized. Traders call it the "Aussie". Its monetary policy is set by the Reserve Bank of Australia (RBA) , and since late 1983 its exchange rate has floated freely in the market.

Australia's economy relies on exports of commodities, especially iron ore, coal, liquefied natural gas and gold, and China is the largest buyer of these goods. For this reason, the Australian dollar is considered a "commodity currency" and in global markets is often seen as a proxy for the state of China's economy and global demand for raw materials.

Australia was also the first country to put polymer banknotes into circulation, a technology now used in many countries, including Canada and the United Kingdom.

What Is the Australian Dollar Used For by Iranians?

• Education: Australian universities are well-known destinations for Iranian students, especially at the postgraduate level. Tuition for international students and living costs are set in Australian dollars.
• Work migration: Australia has skilled migration programs, and applicants face costs for credential assessment, visas and initial settlement in Australian dollars at various stages.
• Family support: Sending money to students and family members living in Australia is another source of demand for this currency.
• Travel: Family and tourist trips also create limited demand for banknotes.

The Australian dollar market in Tehran is small compared with the US dollar, the euro and the dirham; therefore, the gap between its buying and selling rates is usually wider, and not all exchange offices may have enough of it available.

How Is the Toman Rate of the Australian Dollar Formed?

The price of the Australian dollar in Tehran is roughly equal to the price of the US dollar in the open market multiplied by the global rate of the Australian dollar to US dollar (AUD/USD). In this currency pair, the Australian dollar is the base currency; that is, its figure shows how many US dollars one Australian dollar is worth. The higher this figure goes, the stronger the Australian dollar has become.

Since one Australian dollar is usually worth less than one US dollar, its Toman rate is also lower than that of the US dollar. The important point is that the Australian dollar is a volatile currency in the global market; so even on days when the dollar in Tehran is calm, the Toman rate of the Australian dollar may shift because of moves in AUD/USD.

Factors Affecting the Price of the Australian Dollar

1. Domestic factors in Iran

Inflation, sanctions, foreign currency income and political expectations determine the value of the rial against all currencies and account for the largest share of the long-term trend of the Australian dollar in Tehran.

2. China's economy and commodity prices

Data on China's economic growth, industrial production and construction sector affect demand for Australian iron ore and coal. When China's economic outlook weakens, the Australian dollar usually comes under pressure. That is why following the Chinese yuan and the price of global gold is also useful for understanding this currency.

3. The Reserve Bank of Australia's monetary policy

The Reserve Bank of Australia has an inflation target of 2 to 3 percent, and its interest rate decisions, and how they compare with the US Federal Reserve, directly affect AUD/USD. You can see current rates on the global interest rates page.

4. Risk sentiment in global markets

The Australian dollar is considered a "risk currency": in periods when investors are optimistic and stock markets are rising, it usually strengthens, and in crises, when capital flows to safe-haven currencies such as the yen and the franc, it weakens.

The Australian Dollar Compared with Similar Currencies

You can see the Toman rate of the Canadian dollar on the Canadian dollar price page. The New Zealand dollar, owing to its similar economy and geographic proximity, also usually moves in the same direction as the Australian dollar, and you can see its global rate on the New Zealand dollar to US dollar (NZD/USD) page.

In the Tehran market, all three currencies are tied to the US dollar in terms of their rial value; the difference between them lies in the global part of the price. That is, if you want to know why the Australian dollar changed less or more than the US dollar in a given month, you should look at the movement of AUD/USD over the same period, not just the domestic market.

Tips for Buying Australian Dollars

• Banknotes or transfer: Banknotes are useful for travel; for tuition and proof of funds a transfer is usually required, which, due to banking restrictions, is done through exchange offices and comes with different rates and fees.
• Ask about the exchange office's stock: Because the market is small, make sure the amount you need is available before you go.
• Buy in stages for large expenses: If you need the tuition or proof-of-funds amount by a specific date, splitting your purchase into several rounds reduces the impact of short-term volatility.
• Price unit: Prices on this page are in Toman, and each Toman equals ten rials.
• Buy from a licensed exchange office: Buying and selling foreign currency is subject to the regulations of the Central Bank of Iran.

The Australian Dollar in the Forex Market

AUD/USD is one of the major forex pairs and, unlike many currencies, is also active in the Asia-Pacific session; you can see the opening times of the Sydney and Tokyo markets in Iran time on the global market hours page. You can also find Australia's employment and inflation data and the Reserve Bank's decisions in the Teagle Economic Calendar . Trading these currency pairs with leverage carries high risk; before signing up, read the forex broker reviews .

See the full list of currency rates in the Iran market currency section . The information on this page is for informational purposes only and is not a recommendation to buy or sell. Prices are obtained from the stated sources and may differ slightly from the rate at your local exchange office.