Commonwealth Bank exchange rates: What you need to know

Commonwealth Bank Exchange Rate Photo

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Commonwealth Bank offers a convenient way to buy a multitude of different currencies. However, foreign exchange rates represent a major pricing point and there is often little clarity around them. We researched Commonwealth Bank’s travel money exchange rates to provide you a table showcasing their currency rate spread. Hopefully we can help you save money on your holidays.

Commonwealth Bank exchange rates: Information and tips

Know the latest interbank exchange rate for your currency pairs

The interbank rate (also called mid-market rate) is the midpoint between the buy price and sell price of two currencies on the currency markets. Commonwealth Bank does not offer the interbank rate but instead adds a margin to it, which makes the foreign currency transaction more expensive for you. Before using Commonwealth Bank for your travel money needs, make sure to know the current interbank exchange rate. That way, you’ll be able to calculate FX losses on the currency conversion. You can find the latest interbank rates using our currency converter.

How to calculate exchange rate loss

Here’s what you need to do in order to determine how much Commonwealth Bank’s travel money exchange rate spread is going to cost you:

  1. Find the current interbank rate for your currencies using our currency converter
  2. Multiply your original amount by the current interbank rate
  3. Multiply your original amount by the exchange rate Commonwealth Bank offers
  4. Subtract the first amount from the second amount
  5. This is the amount you’ll lose through currency conversion with Commonwealth Bank

Order your currency online and in advance

Ordering your foreign currency before your trip allows you to compare with rates and fees of other providers. Ordering it online also is usually much cheaper than buying currency at the airport or on arrival to your holiday destination. Make sure to always compare exchange rates before finalising an order.

 

For the best exchange rates, we highly recommend TransferWise. Enjoy your first transfer for free on transfers up to £500.
 

Commonwealth Bank exchange rate research

The exchange rate spreads below are for ordering foreign currency online. Rates on other services might differ. Those exchange rate margins are indicative at the time of research. Use the Commonwealth Bank currency converter or visit the nearest branch to get the latest rates.

Currency ISO Code Exchange Rate Mid-Market Rate Exchange Rate Margin / Loss
Euro EUR 0.61 0.64018 4.81%
US Dollar USD 0.69 0.71935 4.36%
Great British Pound GBP 0.53 0.55779 4.48%
Argentine Peso ARS 23.85 25.5658 6.72%
Brazilian Real BRL 2.53 2.71028 6.62%
Canadian Dollar CAD 0.90 0.95242 5.40%
Chilean Peso CLP 459.09 494.66128 7.19%
Chinese Renminbi CNY 4.7178 5.00594 5.76%
Croatian Kuna HRK 4.4112 4.75265 7.18%
Czech Koruna CZK 15.42 16.61922 7.24%
Danish Kroner DKK 4.5255 4.77611 5.25%
Fijian Dollar FJD 1.4293 1.53048 6.61%
Hong Kong Dollar HKD 5.3338 5.63205 5.30%
Hungarian Forint HUF 191.055 206.68683 7.56%
Indonesian Rupiah IDR 9723.656 10663.36091 8.81%
Israeli New Shekel ILS 2.47 2.65622 7.14%
Japanese Yen JPY 77.94 82.07305 5.04%
Kuwaiti Dinar KWD 0.2031 0.21914 7.32%
Malaysian Ringgit MYR 2.8398 3.01666 5.86%
Mauritian Rupee MUR 23.0595 24.93965 7.54%
Mexican Peso MXN 13.58 14.69709 7.57%
New C/Tahiti Franc XPF 70.56 76.39437 7.64%
New Zealand Dollar NZD 1.0206 1.06674 4.33%
Norwegian Kroner NOK 5.7958 6.12673 5.40%
Oman Rial OMR 0.2572 0.27659 7.01%
Philippine Peso PHP 35.244 38.19868 7.74%
Polish Zloty PLN 2.5563 2.75374 7.17%
Qatari Rial QAR 2.4318 2.61843 7.13%
Saudi Riyal SAR 2.5056 2.69756 7.12%
Singapore Dollar SGD 0.9425 0.99522 5.30%
Solomon Island Dollar SBD 4.94 5.79344 14.70%
South African Rand ZAR 9.7869 10.42638 6.13%
South Korean Won KRW 760.41 816.19788 6.84%
Sri Lankan Rupee LKR 117.2 126.70798 7.50%
Swedish Kronor SEK 6.2196 6.55346 5.09%
Swiss Franc CHF 0.6882 0.7275 5.40%
Taiwan Dollar TWD 20.6507 22.21371 7.04%
Thai Baht THB 22.48 23.76668 5.41%
Tonga Pa’anga TOP 1.445 1.61799 10.69%
Turkish Lira TRY 3.57 3.96991 10.01%
U.A.E. Dirham AED 2.5061 2.64223 5.15%
Vanuatu Vatu VUV 71.72 82.01651 12.55%
Vietnamese Dong VND 15320.4 16782.33685 8.71%
Western Samoa Tala WST 1.6818 1.86446 9.80%

How we collect our data & advertiser disclosure

Commonwealth Bank’s exchange rate was collected from Commonwealth Bank’s website on 13/11/2018. Interbank rates collected from x-rates.com on 13/11/2018. The information displayed on this site is subject to change at any time and we do not guarantee 100% accuracy of the information.
For the today’s rates, visit Commonwealth Bank’s website, contact Commonwealth Bank’s customer support or log into your online banking and search for their exchange rate calculator. Currencyfees.com is not liable for any financial decisions based on the above information. Currencyfees.com is supported by referral compensations by some of the companies listed in our articles.

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