People dealing with overseas clients or travelling to a foreign country must know how much their currency will stretch against the client's or touring country's home currency. That's why they need a currency converter or money converter. For instance, while touring Sri Lanka, you can exchange only the required amount of US dollars for local currency to meet expenses. All you need to do is plan costs, use a currency converter calculator to know exchange rates, and encash only the required amount.

Exchange rates are determined by understanding the value of a currency in the foreign market.
The conversion rate of a currency is the value of a single unit of currency with respect to a single unit of some other currency. For example, conversion rate means the number of Indian rupees it would take to make the amount equal in value to purchase one Australian dollar, in this instance.

For example, if the current exchange rate from AUD to INR is ₹53.97, it means that to purchase one Australian dollar, you would need to spend ₹53.97 today. This figure may change tomorrow, or tonight, or every minute, depending on how the world economy drivers impact a particular currency.

Australia runs with a floating exchange rate system. In this system, the exchange rate of AUD to INR depends on factors like the demand and supply of Australian dollars in the foreign market. Indian rupee is also governed by the floating exchange rate system. Apart from the supply and demand of a currency in the market, many factors influence the exchange rates of AUD to INR:

•    Interest rate / repo rate. The rate at which the regulating bank lends money to other banks in a country is called the repo rate. A higher repo rate increases currency demand
•    Inflation represents high supply and low demand of currency in the market, which works to decrease its value
•    Account deficit
•    Import / Export of gold
•    Public debt
•    Stability and economic growth

Currency forecasting is an activity that helps brokers and businesses understand the true monetary value of their trade assets and make informed financial decisions. In the situation where the conversion of Australian dollar (AU$) into INR (₹) is concerned, currency exchange rate forecasting helps in the predictive modelling of business and trade strategies for optimal resource utilization, and to maximize profits.

If your business needs to forecast Australian dollar into INR for a future period, it can be done using two models:
•    Fundamental Approach. Every country is governed by a set of fundamental economic metrics, such as GDP, productivity, balance of trade, inflation rate, etc. Through the fundamental approach, you can use these elemental metrics of a country’s economic setup to arrive at the true worth of a currency. This method is better suitable for planning long-term investments, since factors like GDP and inflation aren’t an overnight thing
•    Technical Approach. In the technical approach, you apply the statistical rules of mathematics, understanding of investor sentiment and charting historical patterns to arrive at a forecasted value of Australian dollar to INR for the future

The approach you want to apply depends on the term of your investment and business growth strategies.

If you're investing, gathering, or organising a trip abroad, these are some advantages of using an online currency converter:

1. Portability
5paisa online currency calculator can be accessed from a smartphone anywhere in the world.

2. Dependability
5paisa currency converter is reliable because it uses data from FOREX markets that are available to the general public.

3. Speed
5paisa currency converter works quickly and can show the outcome in a matter of seconds. As a result, anyone can quickly check the exchange rate for the currency of their choice.

4. Easy to use
Learning how to use a 5paisa currency converter takes a less time than learning how to use other financial calculators and databases.

5. Free to Use:
There is absolutely no cost associated with using a 5paisa online currency converter.

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As on 30 Nov 2023 , the Conversion Rate for 1 AUD (Dollar) is 54.96 INR (Rupee) today.

Step 1: Visit AUD to INR Page
Step 2: Add the amount to convert 
Step 3: Add the from currency as AUD (Australia)
Step 4: Add the base currency (INR)
Step 5: Click on Convert now

When the AUD is at its strongest, or when you get the most INR for your money, is the best time to convert your AUD to INR. Your Indian beneficiary will be able to receive more INR as a result.

The Australian dollar (AUD) typically trades higher when there is strong global growth and an increase in commodity prices, making it a "risk on/risk off" currency.

Disclaimer: The calculator available on the 5paisa website is intended for informational purposes only and is designed to assist you in estimating potential investments. However, it is important to understand that this calculator should not be the sole basis for creating or implementing any investment strategy. View More..