Send money from Australia to India

The Australian Dollar (AUD) is the currency of Australia. The symbol and code of the Australian Dollar are $ and AUD respectively. NRIs living in Australia can easily send money to their loved ones in India through SBNRI platform. SBNRI has a partnership with Wise (formerly known as Transferwise) to facilitate quick and easy online fund transfer to India at a low cost. With the online currency converter, you can calculate AUD to INR rate in seconds, before sending money to India.

Factors affecting exchange rates

Several factors influence exchange rates, such as inflation, interest rates, deficits, government debt, terms of trade, etc. The most prominent factors are the economic stability of both countries, terms of trade, inflation rates and government debt.

When is the right time to convert?

The best time to convert a foreign currency to INR (Indian Rupees) is when a foreign currency, in this case AUD, is at its strongest. This way, you will get the most INR for your funds. As a result,  your beneficiary in India can receive a high amount in Rupees. Similarly, if you need to repatriate money from India to Australia, the best time is when the INR is at its strongest. You should track the exchange rates at least one month before conversion to make sure you get the best possible rates.

How to get the best AUD to INR rates

NRIs can get preferential rates on AUD to INR currency conversion and a host of benefits when sending money from Australia to India for their loved ones by contacting SBNRI experts. At SBNRI, we keep an eye on the exchange rate on a regular basis to help NRIs with their remittances and investment. You can download SBNRI App to connect with our experts. They will help you evaluate the optimal time for remitting money to India from Australia.