While not a bargain per se, with the recent USD exchange rates it makes a lot of sense to let everyone know where to get the best rate.
I have found a lot of small foreign exchange outlets located on George Street around the Great Southern Hotel which give amazingly high exchange rates with no fees at all. For example, I just exchanged at a rate of AU$1 = US$0.9741 as compared to the current rate on XE of US$0.98465.
Current rates with the larger competitors:
Travelex = US$0.9580 (no fees)
The big four banks = US$0.9502 to 0.9586 (excluding additional fees)
Source: http://bestexchangerates.net/AUD/USD&buysell=buy&type=notes
A good strategy is to have a look between the places, check out the best rate and (if you're exchanging a reasonably large amount) try to negotiate a better one!
If anyone knows of any other good value currency exchange places around Australia or around Sydney, let me know and i'll add them!
You can see the current rates below:
http://upload.ozbargain.com/2010/11/18/4811_imag0009.jpg
And a photo of one of the stores:
http://upload.ozbargain.com/2010/11/18/4812_imag0006.jpg
Good luck and happy FOREXing!
p.s. Mods, I have put the link to Google as I can't link to the uploaded photos due to getting this error:
Posting deals from ozbargain.com has been temporarily banned on OzBargain. Reason: Exceesive negative votes over the last 5 days.
I've had good experiences with KVB Kunlun (google them) down at the TGV office buildings near Town Hall steps