Pound Sterling to Australian Dollar exchange rates aren't all the same. The total cost you are charged by your bank or foreign exchange provider consists of a margin from the interbank mid-rate plus fees.
GBP/AUD at 1.9652 was trading 0.8% aboveAVG:1.9493 with LO:1.8713 and HI:2.0468 (90 days). ALERTS: GBP/AUD was DOWN 3.7% this 7-DAY period and also dropped to 14-DAY LOWS.
To calculate your own GBP/AUD amounts use our
Convert GBP to AUD quick calculator.
Comparing Foreign Exchange Providers
The total cost you are charged by your foreign exchange provider consists of the margin from the mid-rate offered plus any fixed or percentage fees.
These margins and fees vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions.
The Exchange rate you are offered can also vary significantly depending on the transaction type (transfer, cash or card), currency pair and amount. The below table shows an example of total costs charged by FX specialists and banks for GBP/AUD International Money Transfers. Costs are calculated against the current interbank mid-rate.
Example of the margins and possible savings when you order travel money online with a currency specialist rather than in-person from banks and currency kiosks.
10 Load Currencies: AUD USD EUR GBP NZD HKD SGD CAD JPY THB. Overseas ATM withdrawal fee: FREE Card Purchase Fee: $5.00 Maximum Load Amount: $100,000 Monthly Fee : $4 (after 12 months inactive) Currency Conversion: 5.95% (when you withdraw a currency not loaded on your card) Offers 24/7 Global Emergency Assistance service with fee free emergency funds up to the available balance on the card
The success or failure of post Brexit negotations will dominate GBP trends and forecasts in 2020. Read more
GBP and AUD in the Markets
When determining the best time to make a foreign exchange transaction, in this case the GBP vs AUD, you should pay attention to the recent market trends for both currencies.
Pound Sterling (GBP)
With the Bank of England holding interest rates steady amid signs of a recovery in the health of the UK economy following the general election, the pound is showing strength against most currencies early in 2020.
In the post UK election euphoria the pound rose to over 1.33 USD and 1.20 EUR but has since dropped back over the uncertainty of what sort of trade deal the UK can realistically negotiate with Europe over the next 11 months.
GBP has given up all of those election result gains as Mr Johnson pledged to outlaw any extension to the UK’s post-Brexit transition period at the end of next year. It appears the Brexit volatility in the pound is set to continue for the foreseable future.
The Australian dollar has been savaged in March sliding to US55 cents the lowest since 2003. Growing fears of the coronavirus outbreak has moved the market into safer currencies such as the USD and away from AUD, NZD and CAD. The virus was a double blow to the Aussie after the earlier threat of proxy war between the US and Iran in Iraq had also pared back some of the gains the Aussie had made coming into the New Year. The Australian dollar had started the new decade strongly climbing to multi-month highs helped along by cooling trade tensions between the United States and China and optimism for global economic growth in the year ahead. The Aussie broke back over US70 cents on the final day of 2019 — a level not seen since mid year. During December the Australian dollar reversed direction (again) and climbed steadily back up against the US dollar on the back of the strength of the housing market and a market perception that further interest rate cuts were less likely.
All foreign exchange providers charge a fee for providing their service and this fee is usually contained within the exchange rate margin (or difference to the mid-rate).
The transaction margin you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount you are transferring and if you are willing to shop around.
This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.
The following table looks at the change in the GBP to AUD exchange rate to the present day for periods going back upto 10 years.
*For period to 09-Apr 21UTC when GBP/AUD was 1.9674
When is the best time to exchange GBP to AUD?
Getting a good market rate is all about timing to help with this you can use BER Smart Alerts to make the most of currency movements.
Rather than requiring you to set a target rate, our rate alerts work differently. We check for daily high/lows and changes (up/down) over a range of periods up to 90 days rather than requiring you to set target rates.
United Kingdom (GBP)
Australia (AUD)
Christmas Island (AUD)
Cocos Keeling Islands (AUD)
Guernsey (GBP)
Heard and McDonald Islands (AUD)
Isle of Man (GBP)
Jersey (GBP)
Kiribati (AUD)
Nauru (AUD)
Norfolk Island (AUD)
South Georgia and South Sandwich Islands (GBP)
Tuvalu (AUD)
