Get more pounds with the best AUD > GBP exchange rate as of Feb 24, 2018
Best AUD > GBP exchange rates

Best AUD > GBP exchange rates as of Feb 24, 2018

When sending money from Australia to the UK, here’s how to find the best exchange rate for your Aussie dollars to British pounds.

Whether you’re investing in a business in London or sending money to your mom in Edinburgh, a strong exchange rate will get you more bang for your Australian buck.

Get the best rate for your AUD > GBP exchange

We’ve gathered today’s best rates to inform your foreign exchange decisions when sending money from Australia to the UK.

Refreshing in: 60s | Sun, 25 Feb 01:59am GMT
USD AUD CAD EUR CNY GBP INR MXN PHP
1 USD = 1.0000 1.2757 Inverse: 0.7839 1.2633 Inverse: 0.7916 0.813339 Inverse: 1.2295 6.3365 Inverse: 0.1578 0.715835 Inverse: 1.3970 64.899 Inverse: 0.0154 18.5412 Inverse: 0.0539 51.815 Inverse: 0.0193
1 AUD = 0.7839 Inverse: 1.2757 1.0000 0.9903 Inverse: 1.0098 0.6376 Inverse: 1.5684 4.9672 Inverse: 0.2013 0.5611 Inverse: 1.7821 50.8743 Inverse: 0.0197 14.5345 Inverse: 0.0688 40.6178 Inverse: 0.0246
1 EUR = 1.2295 Inverse: 0.8133 1.5684 Inverse: 0.6376 1.5532 Inverse: 0.6438 1.0000 7.7907 Inverse: 0.1284 0.880119 Inverse: 1.1362 79.79332 Inverse: 0.0125 22.7965 Inverse: 0.0439 63.7065 Inverse: 0.0157
1 GBP = 1.3970 Inverse: 0.7158 1.7821 Inverse: 0.5611 1.7647 Inverse: 0.5667 1.1362 Inverse: 0.8801 8.8519 Inverse: 0.1130 1.0000 90.661954 Inverse: 0.0110 25.9016 Inverse: 0.0386 72.3840 Inverse: 0.0138

How does the Australian dollar trade against the British pound historically?

The Australian dollar was introduced in 1966 to replace the Australian pound. At the time, the dollar was maintained under the Bretton Woods system, a monetary management system that established the rules for the commercial and economic relationships among the US, Canada, Western Europe, Australia and Japan.

Under the Bretton Woods agreement, currencies were pegged to the price of gold, with the US dollar a reserve currency linked to gold. But the Australian dollar was effectively pegged to the British pound under this agreement.

The global financial crisis in 2008 had an effect on both the Australian dollar and British pound. The Australian dollar reached highs of 2.474488 per pound in October 2008 from 2.065693 per pound in July 2008. By August 2009 the Aussie dollar had dropped to under two dollars per pound. And in 2011, the Australian dollar became the fifth most traded currency in the world behind the US dollar, euro, yen and British pound.

Even though “Brexit” — or Britain’s proposed exit from the European Union voted by referendum in June 2016 — greatly affected many currencies around the world, its effect on the Australian dollar was minimal. The AUD/GBP exchange rate went from 0.519547 in June 2016 to 0.572899 in July 2016. With the UK’s exit from the UN scheduled for March 2019, experts predict that the British economy will remain volatile.

AUD > GBP exchange rate history

We’ve put together the annual average exchange rate for the Australian dollar against the British pound from 2007 to 2016.

2016201520142013201220112010200920082007
AUD = GBP0.5511050.4922310.5477960.6192120.6538050.6440860.5948750.5045560.4584580.418793

Here’s the monthly average exchange rate for the Australian dollar over the past 12 months.

MonthAUD = GBP
Jan. 20170.756946
Dec. 20160.749271
Nov. 20160.743091
Oct. 20160.755159
Sept. 20160.763109
Aug. 20160.769542
July 20160.767398
June 20160.775202
May 20160.773476
April 20160.779029
March 20160.755444
Feb. 20160.724475

What affects AUD > GBP exchange rates?

Five main factors affect the Australian dollar and British pound: monetary policy, price inflation, confidence and sentiment, economic growth using the gross domestic product (GDP) and the balance of payments. These factors can offer a comprehensive view of the direction a currency is going.

A clear example of how this works happened in 2015. Heavy flooding in Australia’s eastern states — particularly in Queensland — affected Australia’s GDP and inflation. A primary factor used to gauge the health of a country’s economy, the GDP went on to affect how the Australian dollar traded in global markets. From June 2015 to February 2016, the Australian dollar remained above 2.0 to the pound.

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Bottom line

Ultimately, how a currency pair trades is subject to many factors. Since currency value is relative to other currencies, it’s difficult to accurately project exactly how much an exchange rate will be in the future. However, with Brexit looming, the Australian dollar could strengthen over the British pound in the next few years.

When choosing a money transfer service for currency exchange, it’s best to look for an exchange rate that’s closest to the mid-market rate and comparable to historically low exchange rates within the past year.

What is the mid-market rate?

The mid-market rate is what your money’s actually worth on the global market compared to another currency. It’s the midpoint between worldwide supply and demand for that currency — and the rate banks and transfer services use when they trade among themselves.

Use the mid-market rate as a baseline to compare against the rates provided by your bank or transfer service. With it, you’ll discover which companies offer the best rates.

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