It's easy to see the AUD to GBP exchange rate on XE, Bloomberg or any other currency converter. It's the real exchange rate that is set by the foreign exchange market. It's also sometimes called the 'wholesale' rate or the 'interbank' rate because it's used for wholesale amounts between banks. It's the best rate to convert foreign currency but often, it's very hard to actually get.

Where is the best place to exchange AUD to GBP?

It's simple to buy GBP with AUD online, but it may not necessarily be as fast as walking into a money changer. Services like Australia Post also offer a foreign exchange service online but it takes between two and five business days before the currency is ready for pick-up or delivery so you need to be organised!

Alternatively, buying your currency in the UK, in-store can be a good option but it all depends on where you go. The money changers in the centre of the main cities like London or Manchester tend to be more competitive than smaller stores in towns.

Only change money at the airport as a last resort. The exchange rates and fees at Australian airports are among the worst in the world so avoid it at all costs if you want to get the best bang for your buck.

Learn more: The Best Places to exchange AUD for GBP in Australia

How can I convert AUD to GBP at the best rate?

The exchange rate that you see online if you use Google, XE or any other currency converter, is the real exchange rate. It's also sometimes called the 'wholesale' rate or the 'interbank' rate because it used for wholesale amounts between banks. It's the best rate to convert foreign currency but often, it's very hard to actually get.

The key to finding the best foreign currency rate is to compare your options. Make sure that you compare not just the exchange rate, but the total cost of your currency including any service or delivery fees.

Learn more: Get the best AUD to GBP exchange rate

What is the best time to exchange AUD to GBP?

As a rule of thumb, if you are buying GBP with Australian dollars, you want the AUD/GBP exchange rate to be as high as possible. The higher the rate, the better it is for you. It means that you will receive more pounds sterling for the same amount of Australian dollars.

Unfortunately there isn't a particular day of the week or time of the day that is the best time.

While it's impossible to pick the perfect time, you can set up a free rate tracker to keep an eye on the rate.

Also keep in mind that if you buy it online, it may take 2-4 business days to arrive so make sure you finalise your financial transaction at least a week before you are due to travel overseas.

Learn more: When is the best time to buy British pounds with Australian dollars?

Is the Australian dollar going up or down against the British pound?

Top banks in Australia and New Zealand have a more optimistic outlook for the Great British Pound Sterling (GBP) compared to the Aussie (AUD) - reflected in their AUD to GBP exchange rate forecasts in 2022. Generally, their outlook for the GBP is more positive compared to the AUD, which is why the AUDGBP edges slightly lower over time.

Learn more: 2022 Forecasts for the AUD to GBP