GBP to AUD - Compare Rates

Comparing GBP AUD Exchange Rates

You should always check the total cost for any exchange rate you are provided by banks or FX specialists. These exchange rates almost always contain a margin from the 'Wholesale' rate (interbank mid-rate) plus any fixed or percentage fees.

These margins and fees can vary significantly for International Money Transfers, Travel Money and prepaid multi-currency Travel Card transactions. Also the exchange rate margin will also vary depending on the currency pair and total amount.

Country Guides - Australian Dollar

Australia (AUD)	Christmas Island (AUD)	Cocos Keeling Islands (AUD)
Heard and McDonald Islands (AUD)	Kiribati (AUD)	Nauru (AUD)
Norfolk Island (AUD)	Tuvalu (AUD)

Pound Sterling - Australian Dollar Forecasting

NAB have revised upwards their pound sterling forecasts now expecting the GBP/USD rate to be at US$1.47 by June 2022, up from their previous forecast of US$1.39. For 2020, it sees GBP at US$1.36 by year-end, up from a predicted US$1.30.

The pound was the worst performer of the major currencies in September. In late September, the currency saw some gains off the back of optimistic Brexit talks and comments from the Bank of England that negative interest rates, despite being in the toolbox, were not appropriate. The currency remains vulnerable to volatility driven by fears unemployment levels will rise when the current furlough scheme ends in October and the increasing likelihood of further lockdowns in a bid to combat the second wave in infections. The EU and UK look to resolve a trade deal by the end of October. Only weeks remain to allow the new laws to go through both the UK and EU Parliaments before December 31. The shorter this time frame the more volatility can be expected. Watch for any positive or negative headlines around negotiations which could trigger volatility. — In September, after breaking 0.74 US cents, the AUD fell against most of the major currencies. The potential second wave of COVID-19 is dampening expectations for global growth and US election uncertainty is driving risk-off sentiment, which does not benefit the AUD. While the focus remains with the underlying risk narrative a shift in key economic data sets is also weighing on the currency. Recent Consumer Price Index data came in below market expectations and the domestic growth outlook has flattened following Victoria’s second wave lockdown, raising expectations monetary policy will ease before the end of the year. Should the RBA cut rates and the market appetite for risk continue to sour, the AUD could be trading between 0.68 and 0.70 US cents in the short-term.

Read more about FX Broker and Bank analysts' predictions for GBP to AUD future trends in our blog article GBP to AUD Forecast Review.

How to get Best GBP to AUD Exchange Rates

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.

Our real-time foreign transfer and travel money/cards comparison calculators make shopping around easy and help you calculate how much you can save.

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.

Setup BER.me FX Alerts