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?

  • Hanrahan@slrpnk.netEnglish
    1·
    7 hours ago

    It is illegal to do that, but you might find someone, mostly you need to swap it first.

    better to hoard it online without broker and then swap it out for AUD if you want to try your hand at arbitrage or even just as risk hedging

    IKBR lets you busy forex, say CHF and you can then exchange it for AUD to spend if that’s your thing, similarly places like WISE (I use this for USD)