The mid-market rate refers to the middle ground between current buy and sell prices on the global currency markets. It's used as the official average price of a currency at any given time.To find out how good your deal is, look at the difference between Westpac's exchange rates and mid-market prices. The difference between them is how much of a margin the provider is taking. Poor exchange rates are in effect similar to a hidden fee.1
Westpac exchange rates
An up-to-date list of the foreign exchange rates offered by Westpac Bank
When you're sending money overseas, a good exchange rate can make a big difference to the amount of money that ends up in your recipient's pocket.
Find live Westpac exchange rates here, and compare them to quotes from other providers to make sure you're getting the most competitive exchange rate for your chosen currency. You'll often be able to save money by sending funds through a specialised money transfer service instead of a bank.
What are Westpac's foreign exchange rates?
The table below shows today's Westpac foreign exchange rates, accurate as of 28 May 2020. The "buy" column refers to the price at which Westpac buys other currencies in exchange for Australian dollars. This is how much you'll get when converting other currencies to Australian dollars through Westpac.
The "sells" column shows the price Westpac gives for other currencies. This is how much you'll get when converting Australian dollars into foreign currencies.
|Currency||Currency code||Westpac buys||Westpac sells||For AUD$10,000, you'll get|
|Brunei dollar||BND||0.8945||0.9821||BND 9,821|
|Canadian dollar||CAD||0.8615||0.9505||CAD 9,505|
|CFP franc||XPF||69.71||75.07||XPF 750,700|
|Chinese yuan||CNY||4.4942||4.9565||CNY 49,565|
|Danish krone||DKK||4.2405||4.6815||DKK 46,815|
|Fijian dollar||FJD||1.432||1.5449||FJD 15,449|
|Hong Kong dollar||HKD||4.8855||5.3598||HKD 53,598|
|Japanese yen||JPY||67.51||74.48||JPY 744,800|
|New Zealand dollar||NZD||1.0253||1.1044||NZD 11,044|
|Norwegian krone||NOK||6.1842||6.8198||NOK 68,198|
|Pakistani rupee||PKR||100.618||111.6898||PKR 1,116,898|
|Papua New Guinean kina||PGK||2.1597||-||-|
|Philippine peso||PHP||31.9182||35.0331||PHP 350,331|
|British pound||GBP||0.5129||0.564||GBP 5,640|
|Samoan tala||WST||1.7401||1.8892||WST 18,892|
|Saudi riyal||SAR||2.3651||2.5991||SAR 25,991|
|Singapore dollar||SGD||0.8943||0.9822||SGD 9,822|
|Solomon Islands dollar||SBD||5.1866||5.8924||SBD 58,924|
|South African rand||ZAR||10.8781||12.069||ZAR 120,690|
|Swedish krona||SEK||6.0046||6.6413||SEK 66,413|
Sending money with Westpac: What to know
What we like
- Multi-currency options. Westpac has potential money-moving alternatives, such as multi-currency travel cards.
- Foreign cash and bank drafts. You can also get foreign cash and bank drafts at Westpac.
What to watch out for
- Restricted features. Limit orders and forward contracts are for business customers only.
- Uncompetitive fees and rates. Westpac's fees are high, and its exchange rates are poor compared to what money transfer specialists offer.
How do Westpac's exchange rates compare?
All of Australia's big 4 banks typically offer similar exchange rates and international transfer fees. So while Westpac's fees and rates are broadly comparable to other banks, they're still worse than what you'll find on offer from a specialist money transfer service.
Use the table below to compare your options and see how much you could save on your next transfer.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
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