I’ve heard about a movement about keeping cash alive. However, am I allowed to exchange or keep “foreign” cash in Australia despite it being worth more? For example, I hoard cash via the following currencies: USD, BBD, OMR, KWD, PLN, GBP, EUR & AED to name a few and most are higher value than Australian Dollar.
I mean, will stores (in touristy parts of Sydney) accept the following in cash (mentioned above) directly for transactions. Like for instance: this item costs A$50 but gave them a 200€ (A$330) bill as payment, will they take that at face value due to that being worth more despite it being the second most traded currency globally?
As far as I’m aware, no, unless stated otherwise in the store. Their value respective to AUD is meaningless. Because then they have to go exchange it to a useable currency, which may incur unknown fees (and is more work, they’d have to pay for). The currency could also be counterfeit, which most cashiers would suspect if someone tried to offer them foreign currency claiming it’s worth multiple times the transaction amount. If you bring foreign currency over a certain amount into the country you must declare it is the only thing I can think of.