Good places to buy $US cash in Sydney CBD?

October 30, 2008 3:49 PM

Good places to buy $US cash in Sydney CBD?

I need to pick up some $US cash for travel (it's about the only way to carry currency in Burma - no banking, no travellers cheques, Euro also accepted but less common) and given the current shitty state of the Aussie dollar, I'm looking for the best exchange rates I can get.

Hopefully, somebody has already done my research for me, and knows where the best rates are to be found - eg with minimal or zero commission.

If it makes any difference, I'm budgeting on US$500.

posted by UbuRoivas to grab bag (4 comments total)

I usually walk through Martin Place and check all of the rates of the day around there. I usually buy from ANZ, they have an acceptable transaction fee. It's too much of a moving feast at the moment to recommend a particular bank.

Note: you may now need ID for exchange unless you are a customer of the bank.
posted by wingless_angel at 4:10 PM on October 30, 2008

Are you stopping over anywhere before you get there? I've generalyl found that Australia is the worst place to sell AUD.
posted by pompomtom at 4:15 PM on October 30, 2008

pompomtom: i'm going via dear sweet Bangkok for about the billionth time. *yum* but the Herald is tipping the AUD to continue falling, to below 40c by next year. It bounced up 5% yesterday to a staggering 68c (down from 98c a few months ago, dammit!) so I'm thinking of biting the bullet & buying today.

wingless_angel: yeh, martin place is probably the way to go. i was wondering generally whether to use banks, or whether private exchange bureaux were more competitive - you know what the banks are like here...
posted by UbuRoivas at 4:38 PM on October 30, 2008

private bureau typically have worse rates - they are the 7/11 of banking.
I read the SMH story, it was just some guy talking his book (he has investments that would favour a lower AUD).
I think the AUD will raise substantially when the current banking excitement dies down, so if you can wait a little while it might get a bit better. Certainly on $500 its not like you are make or break if the rate moves down - and it can't really go that much lower, so you might as well wait with crossed fingers hoping it will go up.
posted by bystander at 5:04 AM on October 31, 2008