AUD to GBP Exchange Rate Forecasts for 2023

This article focuses on what banks predict for the AUD to GBP exchange rate over long term in 2023.

The 2024 AUD GBP Forecasts are out now

With most of 2023 out of the way, attention turns to 2024.

Now that most economists have released their predictions for the AUD GBP exchange rate, head here to find out the most up to date forecasts:

AUD to GBP: bouncing back

The pound sterling fell against most major currencies in 2022 as high inflation, political instability and consumer pessimism took its toll. Most forecasts for the AUD to GBP reflect an expectation of modest bounce in the pound compared to the Australian dollar leading into 2023.

AUDGBP forecasts from bank majors 2023

AUDGBP Forecast Chart 2022

Source: Multinational bank aggregate data


*Wholesale exchange rate updated


Wholesale exchange rate updated

AUD to GBP Predictions in 2023

In the short term

While the banks have predicted for the AUD to GBP to move higher in the long term, there are plenty of influences on both the Australian dollar and the British Pound that can influence the AUDGBP cross rate in the short term. These include:

  • Inflation in the UK. It is unclear if it is temporary or has become embedded into the economy.
  • The Australian economy. It has held up well in the backdrop of rising interest rates.
  • China’s demand for Australian commodities amidst their covid zero policy.
AUDGBP performance

What do bank analysts think about the AUD GBP in the long term?

  • ANZ

The best time to exchange AUD to GBP

If you are travelling to England and need to buy British pounds, the best AUD to GBP exchange rate for you is when it is high. Alternatively, if you are selling Pounds currency either in cash or through a transfer, you want the rate to be as low as possible.

Whether you are buying or selling British Pounds, no one can tell you when this "right" time is, but you can track the rate for free.

You set the rate you would like and let us to the work. We will email you when the AUD gets within the range you would like to buy British Pounds.

Latest AUD GBP news

2024 AUD GBP Forecasts

The Australian dollar (AUD) has been on a wild ride against the British Pound (GBP) in 2023 but 2024 may spell a different story. The Australian dollar (AUD) weakened considerably against the British Pound (GBP) in 2023 but it could strengthen slightly in 2024. The AUD peaked at almost 58p in February 2023, before sinking to almost 50p in August as multiple economic factors weighed down sentiment. The relative weakness in the Australian dollar has made the cost of travel more expensive for many Australians, with the United Kingdom our fourth most popular international destination, according to ABS data.

British Pounds

2022 AUD GBP Forecasts

This article looks at what the banks are predicting for the AUD to GBP exchange rate over the long term in 2022.

Updated: Posted on