The Australian Dollar (AUD) is the official currency of Australia and is popular in the Asia-Pacific region for trade and investment.

Detailed Introduction:

Issued by the Reserve Bank of Australia, the AUD is a commodity-linked currency, often influenced by prices of resources such as iron ore and coal.

In Singapore, AUD is relevant for education payments (due to many Singaporeans studying in Australia), tourism, and trade in commodities. Banks often provide AUD accounts via multi-currency offerings.

The AUD’s value can fluctuate based on global commodity markets, Australian interest rates, and broader economic trends.

FAQ:
Q1: Why hold AUD in Singapore?

For trade with Australia, education payments, investments, and travel.

Q2: How to open an AUD account?

Through a bank’s multi-currency service, providing ID and funding in AUD.

Q3: Where to exchange AUD?

Banks, licensed money changers, and online FX platforms.

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Sophia Tan

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.