In response to a Freedom of Information request dated June 15, 2020, Australia’s financial watchdog Australian Transaction Reports and Analysis Centre (AUSTRAC) released data about cross-border movement of physical currency to and from Australia. AUSTRAC collected the data as supplied by travellers carrying physical forms of money across the border and presented it in a report.
As per this report, Hong Kong had the highest inward flow of money in Australia (over $1.5 billion) in 2019. China ($296 million) and the UAE ($248 million) followed. Hong Kong also topped the outward flow list in 2019, reporting cross-border physical movement of over $3.1 billion. New Zealand ($460 million) and UAE ($88 million) were the next two in the list.
Meanwhile, the report volume for inward movement was the highest for China (more than 16000 reports of cross-border movements). For outward movement, it was the highest for Thailand (over 930 reports of cross-border movements).
Source: AUSTRAC
