Aussie Dollar to Pound Currency Calculator
The Aussie dollar to pound AUD to GBP is one of the most frequently traded currencies in the world. Each currency has a number of places where it can be exchanged and is used in various transactions.
Inflation in Australia has made the currency less valuable, while the weaker UK economy has made the pound more valuable.
As the Aussie dollar strengthens against the pound, holidaymakers are starting to feel the pinch. For those travelling in the opposite direction, this means that Brits travelling to Australia will have to fork out more for their holidays. The good news is that travel costs are only a small part of the overall cost of a holiday, and there are ways to save money on your trip.
Aussie Dollar to Pound Exchange Rates
The Aussie Dollar to Pound exchange rates have been bouncing around since the Brexit vote. The value of the Australian dollar has been slowly declining against the pound, but it is still strong when compared to many other global currencies.
There are a few factors that could affect the exchange rate in the coming months, in particular with travel and tourist slowly returning to pre-pandemic levels.
History of the Aussie dollar to Pound exchange rates
The Aussie dollar to pound exchange rate history is a little more complicated than most other currency pairings. The two currencies have been pegged to one another at various points in time, which has resulted in some unusual exchange rate fluctuations. Currently, the Aussie dollar is worth around £0.59 pound, but this figure has varied significantly over the years.
The Aussie dollar was first pegged to the pound sterling in 1949. At that time, 1 Australian pound was worth £2.48 British pounds sterling. The peg lasted until 1971, when the British government decided to float the pound sterling on international markets. This decision caused the Aussie dollar to plummet in value and it took several years for it to recover its lost ground.
In 1983, the Australian and British governments agreed to peg the currencies once again, this time at a rate of 1 Aussie dollar = £1. At the time, 1 was worth about 2.5 British pounds sterling, but this value has fluctuated wildly over the years. Today it is worth a lot more and of course both economies have grown dramatically.
The Aussie dollar
Australia’s currency is called the dollar (from the Latin denarius) and also popularly called the Aussie dollar. The ISO symbol is AUD $ and AU$ and it is traded alongside many popular forex trading pairs:
AUD to CNY
AUD to BDT
AUD to IKR
MMK to AUD
The Aussie dollar is divided into 100 cents. Coins are available in denominations of 5, 10, 20 and 50 cents, as well as 1 and 2 dollars. Banknotes are available in denominations of 5, 10, 20, 50 and 100 Aussie dollars.
The Australian dollar was first introduced on 14 February 1966, replacing the Aussie pound at a rate of £1 pound = $2 dollars. At this time, there were only six coins in circulation: 1c., 2c., 5c., 10c., 20c. and 25c.
In 1969, the 1 dollar coin was introduced. In 1984, the 50 cent coin was replaced by a smaller version of the 10 cent coin. In 1992, the 20 cent coin was replaced by a larger version of the 10 cent coin.
Visiting the UK and converting Aussie dollars to GBP Pounds
When travelling to the UK from Australia, it is important to be aware of the exchange rate between Australian and British pounds. Exchange rates keep changing, so if you bookmark this page and check back as needed, it will help you to keep track of your spending of pounds in relation to Aussie dollars.
Keep this in mind when budgeting for your trip! Lot of people like to set a daily amount, which makes it easier to calculate when you are booking accommodation, planning activities and eating out.
There are a few ways you can go about exchanging your Aussie dollars to pounds. The most convenient way is likely to use a foreign exchange service or bureau de change at the airport or in the city or local town once you have arrived safely.
However, these services often charge high fees, so it is worth doing some research ahead of time to find the best deal. You can also exchange money at your bank, although this may also come with fees attached.
What Affects Aussie dollar to Pound Exchange Rates?
The Aussie dollar is often compared to the British pound and they are regularly benchmarked against each other. Both currencies are considered “major global currencies” and are in high demand. This demand affects the exchange rate between the two currencies. The Aussie dollar is typically worth more than the pound sterling, but this can change depending on a number of factors.
One major factor that affects the exchange rate is economic stability. If one country is experiencing economic turmoil, its currency will be worth less on the global market. Another factor is interest rates. When a country’s interest rates are high, its currency is more valuable. Conversely, when interest rates are low, the currency is worth less. Political stability and economic conditions also play a role in exchange rates.
Fun facts about Aussie dollars
Did you know that the Aussie dollar is the fifth most traded currency in the world?
Or that it’s used in more than 25 countries, including New Zealand, Fiji and Tuvalu?
Here are some other fun facts about Australia’s dollar:
-The $ symbol was chosen to represent the Aussie dollar because it resembles an ‘A’ and a ‘U’ intertwined.
-The first paper notes were issued in 1966 and featured images of Queen Elizabeth II on one side and kangaroos on the other.
-Australia was the first country to introduce polymer banknotes in 1988. These plastic notes are more durable and difficult to counterfeit than paper notes.
Use our Free Aussie Dollar Currency Calculator for live foreign exchange rates!