US Election

What has happened?

Market Update: Friday 11th November 2016 1.00 pm AEST

As at 1.00 pm (AEST) Friday 11th November, markets experienced further improvements globally as investors and businesses stabilised their views on what Trump’s presidency may mean for business and economies.

The Aussie dollar has experienced continued volatility, getting as high as 77.64 USD before dropping to 75.68 USD earlier this morning. Commentators point to pressures in both directions, including improving strength of the USD versus improving commodity prices.

You can check out historical rates, and our current online rates by clicking here

What will happen next?

On balance, the global economic outlook after the reaction remains uncertain. It’s still early days, with limited direction from President–elect Trump and ongoing volatility is possible for some time as further information becomes available for markets to consider.

We will keep this page up to date through the day as things change, so check back here later for an update.

Depending on where you are travelling to and changes in exchange rates, you might be looking at less spending money for your trip. Ongoing instability in the currency markets means that exchange rates could continue to move around. Market volatility may occur for some time.

What should an outbound traveller do?

Travel Money Oz advises Australians travelling soon to monitor market changes, review their currency needs and individual situations and decide whether they should lock in their exchange rate now. We’d also like to reassure customers that at the moment supplies of US Dollars in our stores are good, but to keep in mind the high levels of demand.

      

 

Don't want cash? Consider a prepaid travel money card

If you don't want to carry a large amount of cash, you can still lock in* election exchange rates today by getting a prepaid travel money card. Using Key to the World Currency Card, you can lock in exchange rates on up to 10 different currencies, load additional funds quickly and securely in store or online. Visit any Travel Money Oz store to get a card and load funds.

FAQ's

When is the best time to buy my currency?

Unfortunately we don't have a crystal ball and cannot predict what will happen with exchange rates. Given volatility in exchange rates right now we are recommending customers consider their needs and individual situations and decide whether they should lock in their exchange rate now.

What is going to happen to the USD/AUD?

Again, we can't predict what will happen to these currencies, but usually when one currency market shifts, so do others to align with this change. Initial impacts have decreased the AUD against a number of currencies, and we are expecting further instability and change as markets react to the news.

Will my local Travel Money Oz store have enough cash stock available during and after the election?

At this stage we can reassure customers we do have sufficient cash stocks, however keep in mind the high levels of demand we are experiencing. We recommend visiting your nearest store to chat to our friendly consultants about your cash requirements. If in the rare instance we don't have your desired currency, we have over 130 stores across Australia, so please visit another Travel Money Oz store near you using our website store locator or order your currency online.  

*Lock in your exchange rates mean the exchange rate is locked in for the initial load only. The exchange rates for subsequent reloads will be set at the prevailing exchange rate at the time of the transaction. MasterCard Prepaid Management Services Australia Pty Ltd (ABN 47 145 452 044, AFSL 386 837) arranges for the issue of the Key to the World Currency Card in conjunction with the issuer, Heritage Bank Limited (ABN 32 087 652 024, AFSL 240 984). You should consider the Product Disclosure Statement for the relevant product available at https://www.keytotheworld.com.au before deciding to acquire the product. Any advice does not take into account your personal needs, financial circumstances or objectives and you should consider if it is appropriate for you. MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated. MasterCard® and the MasterCard Brand Mark are registered trademarks of MasterCard International Incorporated.