The Australian dollar against the British Pound (AUDGBP) changes every second. This article shares bank forecasts to help you predict changes in the AUDGBP rate.
2021 AUD to GBP: Aussie to perform better than Pound
In 2021, the 'Big 4' major Australian banks forecast the AUDGBP to rise slightly from the current exchange rate. Most banks expect a 5% recovery in international growth this year. Bank expect the Australian dollar to perform better than the Pound Sterling.
AUDGBP Bank expert rate forecasts 2021
Source: International bank forecast aggregate data
How will the AUDGBP perform in 2021?
Why is the AUDGBP rising?
There are many reasons why the Aussie dollar has been getting stronger relative to the British Pound.
These are the most likely:
- Vaccine rollout reduces coronavirus globally despite new strains
- Australian economy bounces back faster than the UK economy
- A weaker US dollar as the US economy struggles
- China’s demand for Australian commodities grow
- Economic growth on a global scale recovers
What do bank analysts think about the AUDGBP?
- Westpac – Predict the AUDGBP rate to be 0.5800 cents by December 2021
- CBA – CBA forecasts the AUDGBP rate to peak at 0.5760 cents by September, 2021, before falling below 0.5200 in December 2022
- NAB – NAB’s forecast shows the AUDGBP rate around 0.5500 cents by the end of 2021
3 Things to know about the AUDGBP
- AUD/GBP tells you how many Pound Sterling are needed to purchase one Australian dollar.
- The AUD/GBP can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
- Australia and the UK currencies are strongly influenced by local economic data. Economists suggest the UK is on track for a faster economic rebound than previously thought due to a quick vaccine rollout.
AUD bank forecast major crosses for 2021
Buying Pounds in Australia
If you like the reassurance of having the local currency readily available from the moment you step off the plane, you have three options to pick up the cash before you go:
- Cheapest - Buy the currency online and either collect it in-store or have it delivered to you
- Mid Range - Buy from a currency exchange store
- Most Expensive - Buy the currency at the airport
Travelex 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!
Buying your currency 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 tend to be more competitive than smaller stores in the suburbs.
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.
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The Australian dollar against the US dollar exchange rate (AUDUSD) changes every second. This article shares bank forecasts to help you predict changes in the AUDUSD rate.
Australian dollar exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.