While it does not feature among the top currency corridors of the world, the AUD/BRL currency pair experiences a significant number of trades. In 2016, around U.S. $28 million made its way from Australia to Brazil in the form of remittances alone. In the same year, around U.S. $2 million was sent from Brazil to Australia as remittances. In 2017, just merchandise trade between both countries accounted for over AU $2.2 billion.
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- Two Transfers Fee Free
- 1 - 3 Days
- $250 / £100 / €250
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- USD$10 / NO FEES
- 1 - 3 Days
- £1000 / $1000 / €1000 / AUD$2000
In 1966, Australia introduced the dollar to replace the then prevalent Australian pound. The decimalized dollar with cents went on to replace pounds, shillings, and pence. In 1998, the country turned to printing polymer banks notes with the aim of preventing counterfeiting. The use of the Australian dollar as legal tender is also seen in Kiribati, Nauru, Tuvalu, Tonga, Vanuatu, and Papua New Guinea.
Upon is introduction, the Australian dollar’s value was pegged to the pound sterling. In September 1973, the peg was shifted to the American dollar. One Australian dollar valued at U.S. $1.4875 at that point. The Australian dollar adopted the free floating regimen in December 1983.
The share of the Australian dollar in the global foreign exchange market turnover was close to 7% in April 2016, making it the fifth most traded currency in the world.
|Bank notes||$5, $10, $20, $50, $100|
|Coins||5c, 10c, 25c, 50c, $1, $2|
The modern Brazilian real came into being on 1 July, 1994, when it replaced the relatively short-lived cruzeiro real. Its introduction was a result of Brazil’s efforts to stabilize and revive its economy. In contrast to most other countries, Brazil used periods to separate thousands and commas to separate decimals.
Brazil introduced the first set of real coins in 1994 and they remained in use until 1997. The coins issued thereafter continue to remain in circulation. The share of the Brazilian real in the international forex market turnover was around 1% in April 2016, making it the world’s 19th most commonly traded currency.
|Currency symbol||- two vertical strokes, not one, R$|
|Bank notes||R$2, R$5, R$10, R$20, R$50, R$100|
|Coins||5, 10, 25, and 50 centavos, R$1|
Australian Dollar / Brazilian Real Historical Rates
Upon its introduction in July 1994, the Brazilian real traded at around R$ 0.69 against the Australian dollar. The AUD/BRL currency pair maintained relative stability until the end of 1998 because of the Central Bank of Brazil’s tight control over the real’s exchange rate. During this period, the real traded largely in between R$ 0.65 and R$ 0.85 against the Australian dollar.
The 1998 Russian default caused significant disruption in international markets, forcing the Central Bank of Brazil to adopt the floating exchange rate regimen. This resulted in devaluation of the real, and by January 1999, the real was trading at over R$ 1.30 against the Australian dollar.
The next significant dip in the real’s value came toward the end of 2002, prompted mainly by the prospects of leftist candidate Luiz Inácio Lula da Silva coming to power. From around R$ 1.20 against the Australian dollar in early 2002, the value of the real dropped to over R$ 2.15 against the Australian dollar by early 2003.
The real saw a revival of sorts from mid 2004 to mid 2008, by which time it was trading at around R$ 1.4 against the Australian dollar. It then started to devalue gradually again, getting to around R$ 2.2 against the Australian dollar by the end of 2014.
The recession in Brazil that followed had a noticeable negative impact on the value of the real. By February 2016, the real was trading at around R$ 2.90 against the Australian dollar. While its value got to around R$ 2.35 against the Australian dollar by December 2016, it could not hold this lost ground for long, and started devaluing gradually again. By August 2018, the real valued at over R$ 2.90 against the Australian dollar.
AUD/BRL in the last five years
|AU $1 =|
|1 July, 2013||R$ 2.0454|
|1 July, 2014||R$ 2.1046|
|1 July, 2015||R$ 2.4992|
|1 July, 2016||R$ 2.4668|
|1 July, 2017||R$ 2.5021|
AUD/BRL in the last five months
|AU $1 =|
|1 March, 2018||R$ 2.5380|
|1 April, 2018||R$ 2.6422|
|1 May, 2018||R$ 2.8181|
|1 June, 2018||R$ 2.8708|
|1 July, 2018||R$ 2.7913|
What Affects AUD/BRL Rates?
Brazil’s economy has struggled to recover after the 2015 recession, and its effect on the AUD/BRL currency pair is plain to see. While the real experienced some respite from mid 2016 to early 2018, it appears that the measures taken by Brazil are doing little to help sustain the value of the real.
Other factors that tend to have an effect on how the AUD/BRL currency pair performs include interest rate differentials, changes in monetary policies, trade balances, volatility in the commodities market, gross domestic product (GDP), as well as investor sentiment.
If you plan to send money from Australia to Brazil or from Brazil to Australia, the prevailing AUD/BRL exchange rate requires your attention. This is because the exchange rate you get and the fees you end up paying affect the cost of your transfer. To save some money, it is ideal that you compare your options well.