The best time to buy British Pounds with Australian dollars this year, was on the very first day of 2021 - January 1, when the AUD/GBP exchange rate was 0.5741. The low point for the exchange rate (or the worst time to buy British Pounds) was in August when rate hit 0.5026.
Is it a good time to buy British Pounds?
While it's nearly impossible to time the market perfectly, if you are travelling to the UK and need to buy some pounds, a higher AUD/GBP exchange rate is better for you. It means that you will receive more British pounds to spend for each Australian dollar you have.
Should you buy British Pounds now?
To work out the best time to buy your British pounds before a trip, instead of watching the exchange rate each minute, you can set up a rate tracker.
With a rate tracker, you can get
- Daily emails that tell you what the rate is
- An alert email for a particular rate that you want. For instance, if the AUD/GBP is at 0.52 but you want to buy it when it gets to 0.55 then you can set a rate alert for 0.55 and we'll notify you if it gets there
Make sure to also tell us you date of travel. You won't receive any more emails after this date.
You can also set up more than one alert. Choose a number of currencies including US dollars (USD), Japanese Yen (JPY), Euro (EUR) and New Zealand Dollars (NZD).
It's important not to leave it to the last minute. Even though S Money is one of the fastest ways to buy currency in Australia, you can't buy it on the day you are travelling. To allow for time, make sure you have ordered and paid for your order at least 4 days before you fly out.