Wondering when’s a good time to make a currency exchange on your YouTrip app? If you’re planning on making a switch from Singapore Dollar to the Australian Dollar, you’ve come to the right page!
Growing up, the Australian Dollar has always been stronger than our own — this made it feel extra special whenever the SGD came close to going head to head with the Australian Dollar. However much has changed since the noughties. This is good news for those of you planning to take a trip Down Under soon, especially now that entry requirements have been simplified in most of the territories. But whether you’re seizing the moment to make the most of every dollar by locking in a favourable rate before it bounces back — or just planning for a future trip to Australia, this guide is for you.
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SGD vs AUD: How’s It Going?
Image credits: Trading Economics
Image credits: Monetary Authority of Singapore
First of all, let’s break down both Fig A and Fig B. Fig A describes the general journey of the Australian Dollar across the last two quarters of 2022, up to June 2022 — showing that as of June 30, one Australian Dollar is exchangeable for 0.95737 SGD. It’s been a tight game of tug o’ war with a low of 1.04 SGD in Australia’s favour and a high of 0.95 SGD in ours.
Similarly, in Fig B, you’re looking at the monthly average of 100 units of the Australian Dollar per SGD. As you can see, the current average rate of 95.90 is the lowest monthly average it has been in a year from June 2021 to June 2022 — apart from 95.00 in January this year. However, it’s not rare for the Australian Dollar to get sudden bursts of strength like how it did in October 2021 and March 2022. So, really, anything can happen.
So How Do I Use YouTrip To Lock In The Best Australian Dollar Rates?
In a nutshell, YouTrip works to “unpinch” your wallet – you don’t need to worry about losing money from exchange rate margins.
✅ Simply top up the desired amount of SGD you wish to change to Australian Dollars in your mobile wallet
✅ Tap on the exchange icon in your YouTrip app and YouTrip will do all the work with Smart Exchange™
✅ You’ll see 10 major currencies available for real-time currency exchange and conversion, but you can go ahead and pick out the Australian Dollar
Secure The Best Australian Dollar Rates With YouTrip!
And just like that, you’ve locked in the best rates! When you exchange currency in-app, the same Wholesale Exchange Rates will be utilised. What’s more, exchanging currencies (choose over 150 global currencies) on YouTrip also comes with zero fees and markup!
When you go on your next holiday, just don’t forget to take your YouTrip card with you on your travels to make full use of our wholesale exchange rates (i.e. no pesky bank fees!).
If you don’t have a YouTrip card yet, sign up now and be sure to check out our YouTrip Perks page for exclusive offers and promotions too! For more great tips and articles like this, join our Telegram(@YouTripSG) and subscribe to our free weekly newsletter here or down below!
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Stay safe, and happy travels!
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*All currency conversion rates are accurate to the nearest 10 cents on 1 July 2022 SGT 10.30 AM. Bank card prices are calculated based on 3.25% foreign currency transaction fee.