What is the GBP to AUD exchange rate now?
On ECB euro reference rates, GBP/AUD was 1.9226 on 5 November 2026, up 2.0% from 1.8851 on 25 September. The pound remains 4.3% lower than at the start of the year (2.0080 on 2 January) and 3.2% above the 2026 low of 1.8634 on 13 May. Check the live GBP to AUD rate at any time.
| Right now | Level |
|---|---|
| GBP/AUD (ECB, 5 November 2026) | 1.9226 |
| AUD/GBP (ECB, 5 November 2026) | 0.5201 |
| AUD/USD (derived, 5 November 2026) | 0.7001 |
| RBA cash rate target | 4.85% (raised 3 November 2026) |
| Bank of England Bank Rate | 4.00% (raised 5 November 2026) |
| Next RBA decision | 8 December 2026 |
| Next Bank of England decision | 17 December 2026 |
GBP/AUD exchange rate in 2026: month by month
| Date (ECB fixing) | GBP/AUD (A$ per £1) | RBA cash rate that day |
|---|---|---|
| 2 January 2026 | 2.0080 | 3.60% |
| 5 January 2026 (year high) | 2.0161 | 3.60% |
| 27 February 2026 | 1.8957 | 3.85% |
| 31 March 2026 | 1.9224 | 4.10% |
| 13 May 2026 (year low) | 1.8634 | 4.35% |
| 30 June 2026 | 1.9197 | 4.35% |
| 31 July 2026 | 1.9124 | 4.35% |
| 31 August 2026 | 1.8904 | 4.35% |
| 25 September 2026 | 1.8851 | 4.35% |
| 5 November 2026 | 1.9226 | 4.85% |
Most of this year’s fall came in January and February, when markets priced the first RBA rise. Since March the pair has stayed in a band of roughly 1.86 to 1.93, even as the RBA raised rates three more times. The rise since late September came mostly from the pound itself: the Australian dollar was little changed against the US dollar (about 0.70 in both September and November), while GBP/USD climbed into the Bank of England’s rise.
What is driving the pound against the Australian dollar?
The RBA has raised rates five times in 2026
The Reserve Bank of Australia raised its cash rate target by 0.25 points in February, March and May, then again on 29 September (to 4.60%, unanimously) and on 3 November, to 4.85%. The November decision was split: six members voted to raise and three to hold. The Board said “inflation remains elevated and recent data indicate that it is broadly based”, that inflation is “forecast to remain elevated through much of 2027”, and that it “will continue to do what it considers necessary”.
The data back that up. The Australian Bureau of Statistics reported CPI of 4.3% in the 12 months to September 2026, with trimmed mean inflation at 3.6%, both above the RBA’s 2–3% target band. The three dissenting votes, however, suggest the bar for a sixth rise is higher than for the fifth.
The interest rate gap still favours the Australian dollar
| Date | RBA cash rate | Bank Rate | Gap |
|---|---|---|---|
| 1 January 2026 | 3.60% | 3.75% | 0.15 points in the pound’s favour |
| 25 September 2026 | 4.35% | 3.75% | 0.60 points in the Australian dollar’s favour |
| 8 November 2026 | 4.85% | 4.00% | 0.85 points in the Australian dollar’s favour |
The gap has widened, not narrowed, since September, because the RBA has moved twice to the Bank of England’s once. Higher Australian rates pay investors more to hold Australian dollars than pounds, which caps how far GBP/AUD is likely to climb unless UK rates rise further.
The Bank of England has started raising rates
The Bank of England raised Bank Rate from 3.75% to 4.00% on 5 November 2026 in an 8–1 vote, with Catherine Mann voting for 4.25%. It was the first rise in three years. UK CPI was 3.5% in September and the Bank’s November Monetary Policy Report expects it to reach about 5% by mid-2027. Governor Andrew Bailey warned against reading the move as the first of a long sequence, though several members see a near-term case for more. The next decision is on 17 December; our Bank of England rate decision tracker covers it in full.
Commodities, the US dollar and global risk appetite
Australia exports iron ore, coal, gold and liquefied natural gas, so the Australian dollar tends to rise with commodity prices and fall when global markets turn nervous. Because both currencies trade heavily against the US dollar, GBP/AUD is roughly GBP/USD divided by AUD/USD. Our GBP/USD forecast of 1.32–1.37 to year-end, with AUD/USD holding around 0.70–0.72, is consistent with GBP/AUD in roughly the 1.84–1.94 area. A sharp global sell-off that hit the Australian dollar would be the quickest route to the top of our range.
What is the GBP to AUD forecast for the next 6 months?
| Horizon | GBP/AUD range | Main driver |
|---|---|---|
| To end December 2026 | 1.84–1.94 | RBA on 8 December; Bank of England on 17 December |
| To end March 2027 | 1.82–1.97 | Whether either central bank raises again in February or March |
| Next 6 months (to May 2027) | 1.82–1.97 | Australian and UK inflation paths; global risk appetite |
| 2027 as a whole | 1.80–2.00 | Which central bank stops first |
Cambridge Currencies’ forecast ranges as at 8 November 2026, anchored on the 5 November ECB fixing. They are not guarantees, and rates may move outside them. This page is reviewed every four to eight weeks and after RBA and Bank of England decisions.
Our September three-month range of 1.85–1.93 has not been broken, but spot now sits near its top, so we have widened the year-end range to 1.84–1.94. It leans lower from spot because the rate gap still favours the Australian dollar.
For GBP/AUD to reach the upper end (1.93–1.94), the Bank of England would probably need to raise again on 17 December while the RBA holds on 8 December, or a global risk-off move would need to weaken the Australian dollar.
For GBP/AUD to fall back towards 1.84–1.86, the RBA would probably need to signal further rises while the Bank of England pauses, or commodity prices would need to strengthen.
Will the pound strengthen against the Australian dollar?
The pound could gain a little further, but a return to A$2.00 within six months looks unlikely while Australian rates sit 0.85 points above UK rates. That would probably need the Bank of England to keep raising while the RBA stops, which the three dissents on 3 November make more plausible than it was. The more likely path is trading within the 1.84–1.94 area. For 2027 as a whole, our range is 1.80–2.00: the top needs UK rates to keep rising, the bottom needs Australian inflation to force the RBA further.
What is the AUD to GBP forecast?
The AUD to GBP forecast is the same forecast turned round. At 1.9226, one Australian dollar buys about £0.52. Our year-end range of 1.84–1.94 is equivalent to one Australian dollar buying between about £0.5155 and £0.5435. A weaker pound means each Australian dollar buys more pounds. See the live AUD to GBP rate.
What does the GBP/AUD forecast mean for your transfer?
Emigrating to Australia
| Illustrative: £300,000 converted at | Australian dollars received | Difference vs 5 November |
|---|---|---|
| 1.84 (bottom of year-end range) | A$552,000 | −A$24,780 |
| 1.9226 (5 November 2026) | A$576,780 | — |
| 1.94 (top of year-end range) | A$582,000 | +A$5,220 |
In this illustrative example, the year-end range alone spans A$30,000 on £300,000, with more room below spot than above. Our guide to moving to Australia from the UK covers timing around visas and property settlement.
Buying Australian dollars with a forward contract
Because Australian rates are above UK rates, a GBP/AUD forward rate sits slightly above spot. On current policy rates the difference is roughly 0.85% a year before any margin, so buyers of Australian dollars who fix ahead are not penalised for doing so. A forward contract can fix the rate for up to 12 months, and our explainer on why the forward rate differs from spot shows the calculation.
Bringing Australian dollars back to the UK
For returning expats and anyone selling Australian property, the pound’s recent recovery has worked against you. In an illustrative example, A$1,000,000 converts to £520,129 at 1.9226, £543,478 at 1.84 and £515,464 at 1.94, a spread of about £28,000 inside the year-end range. A rate alert at your target level lets you act quickly if the rate moves your way.
Business payments
For UK businesses paying Australian suppliers or receiving Australian revenue, a forward contract for UK businesses fixes a known rate on future invoices. With the RBA deciding on 8 December and the Bank of England on 17 December, the rest of the year carries more event risk than usual.
Key dates for GBP/AUD
| Date | Event | Why it matters |
|---|---|---|
| 18 November 2026 | UK CPI (October) | Sets the odds of a second UK rise in December |
| 8 December 2026 | RBA decision | A sixth rise would widen the gap further |
| 8–9 December 2026 | Federal Reserve decision | Moves both currencies against the US dollar |
| 17 December 2026 | Bank of England decision | Last UK decision of 2026 |
| 4 February 2027 | Bank of England decision and Monetary Policy Report | New UK forecasts |
| 9 February 2027 | RBA decision | First RBA decision of 2027 |
| 18 and 23 March 2027 | Bank of England; RBA | Shape the end-March range |
GBP/AUD frequently asked questions
What is the GBP to AUD forecast for 2026?
GBP/AUD is forecast between 1.84 and 1.94 to the end of December 2026, and between 1.82 and 1.97 to the end of March 2027. It fixed at 1.9226 on 5 November 2026, 4.3% lower than at the start of the year.
What is the RBA interest rate now?
The RBA cash rate target is 4.85%, after a 6–3 decision to raise it on 3 November 2026. It was 3.60% at the start of the year. The next decision is on 8 December 2026.
Why has the pound fallen against the Australian dollar in 2026?
The RBA has raised rates five times this year while the Bank of England raised only once, on 5 November. Australian rates have moved from 0.15 points below Bank Rate in January to 0.85 points above it, which rewards holding Australian dollars over pounds.
Is now a good time to buy Australian dollars?
The pound buys more Australian dollars than it did in late September, but fewer than in January. Our year-end range leans lower from spot, which would favour buyers of Australian dollars who wait, but that is not assured. Whether to act depends on your deadline and how much risk you can accept around the 8 and 17 December decisions. This is general guidance, not a personal recommendation.
What was the highest GBP to AUD rate in 2026?
The 2026 high on ECB reference rates was 2.0161 on 5 January. The low was 1.8634 on 13 May.
How long does a GBP to AUD transfer take?
GBP to AUD transfers usually arrive within one to two working days. Eastern Australia is 10 to 11 hours ahead of the UK in November, so a UK afternoon payment often lands the next Australian business day.
Speak to a specialist about your Australian dollar transfer
Whether you are emigrating, buying property or bringing savings home, every Cambridge Currencies transfer is handled by phone with a dedicated specialist, from £5,000 upwards. Request a quote for your Australian dollar transfer, read our guide to sending money to Australia from the UK, or compare the GBP/NZD forecast and our other currency forecasts. We work with FCA-authorised payment partners Currencycloud (FRN 900199) and ScioPay (FRN 927951), with client funds safeguarded. This article is general guidance, not a personal recommendation.
