What is the GBP to AUD exchange rate now?
On ECB reference rates, GBP/AUD was 1.8851 on 25 September 2026. The 2026 high was 2.0161 on 5 January and the low was 1.8634 on 13 May. The pound is 1.2% above that low and 11.5% below its April 2025 peak of 2.1296. Check the live GBP to AUD rate at any time.
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% |
| 30 January 2026 | 1.9627 | 3.60% |
| 27 February 2026 | 1.8957 | 3.85% |
| 31 March 2026 | 1.9224 | 4.10% |
| 30 April 2026 | 1.8899 | 4.10% |
| 13 May 2026 (year low) | 1.8634 | 4.35% |
| 29 May 2026 | 1.8724 | 4.35% |
| 30 June 2026 | 1.9197 | 4.35% |
| 31 July 2026 | 1.9124 | 4.35% |
| 31 August 2026 | 1.8904 | 4.35% |
| 18 September 2026 | 1.8741 | 4.35% |
| 25 September 2026 | 1.8851 | 4.35% |
Almost all of this year’s fall happened in the first eight weeks. GBP/AUD dropped 6.0% between 5 January and 27 February, as markets priced in the first RBA rise. Since 1 March the pair has stayed between 1.8634 and 1.9315, a band less than 4% wide, even though the RBA raised rates twice more. The market had already priced in the higher Australian rates.
What is driving the pound against the Australian dollar?
The RBA has raised rates three times in 2026
The Reserve Bank of Australia raised its cash rate target by 0.25 points on 3 February (to 3.85%), 17 March (to 4.10%) and 5 May (to 4.35%). It has held since. On 11 August the Board said “headline inflation is still too high” and that it would consider “increasing the cash rate target further if upside risks materialise”.
Australian inflation supports that stance. The Australian Bureau of Statistics reported CPI of 3.5% in the year to July 2026, with trimmed mean inflation at 3.6%. Both are above the RBA’s 2–3% target band. The RBA’s next decision is on 29 September, and a fourth rise would give the Australian dollar further support.
The interest rate gap has flipped against the pound
| 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 |
That 0.75-point swing is the main reason the pound has lost ground this year. Higher Australian rates pay investors more to hold Australian dollars than pounds.
The Bank of England may narrow the gap
The Bank of England held Bank Rate at 3.75% on 17 September in a 6–3 vote, with three members voting for 4%. UK CPI was 3.1% in August, and the Bank expects inflation to exceed 4% in early 2027. A UK rise on 5 November would cut the gap to 0.35 points. See our Bank of England rate decision tracker and the wider GBP forecast 2026.
Commodities and global risk appetite
Australia is a major exporter of 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. On 25 September the Australian dollar bought about 70.3 US cents (derived from ECB fixings). A sharp global sell-off would be the quickest route back above A$1.93 for the pound.
What is the GBP to AUD forecast for the next 6 months?
| Horizon | GBP/AUD range | Main driver |
|---|---|---|
| Next 1–3 months | 1.85–1.93 | RBA on 29 September and 3 November; Bank of England on 5 November |
| Next 6 months | 1.83–1.95 | Which central bank moves next, and global risk appetite |
| Next 12 months (to September 2027) | 1.80–1.98 | Whether Australian inflation falls toward target, allowing the RBA to stop |
Cambridge Currencies’ forecast ranges as at 25 September 2026. 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.
For GBP/AUD to break back above 1.93, the Bank of England would probably need to raise rates while the RBA holds, or a global risk-off move would need to weaken the Australian dollar.
For GBP/AUD to fall below the May low of 1.8634, the RBA would probably need to raise rates again while the Bank of England holds, or commodity prices would need to rise strongly.
Will the pound strengthen against the Australian dollar?
The pound could recover some ground, but a return to A$2.00 within six months looks unlikely on current policy settings. That would probably need the rate gap to swing back in sterling’s favour through Bank of England rises while the RBA holds. The more likely path is sideways trading within the 1.86–1.93 band of the past seven months. For 2027, our 12-month range is 1.80–1.98.
What is the AUD to GBP forecast?
The AUD to GBP forecast is the same forecast turned round. At 1.8851, one Australian dollar buys about £0.530. Our six-month range of 1.83–1.95 is equivalent to one Australian dollar buying between about £0.513 and £0.546. See the live AUD to GBP rate.
What does the GBP/AUD forecast mean for your transfer?
Emigrating to Australia
In an illustrative example, a family moving £300,000 of UK house sale proceeds receives A$565,530 at 1.8851, A$549,000 at 1.83 and A$585,000 at 1.95. That is a spread of A$36,000 inside our six-month range. 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 now above UK rates, a GBP/AUD forward sits slightly above spot. At current policy rates the difference is roughly 0.6% 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 stronger Australian dollar is good news. In an illustrative example, A$1,000,000 converts to £530,476 at 1.8851, £546,448 at 1.83 and £512,821 at 1.95, a spread of about £33,600. 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 RBA decisions on 29 September, 3 November and 8 December, and a Bank of England decision on 5 November, the rest of the year carries more event risk than usual.
GBP/AUD frequently asked questions
What is the GBP to AUD forecast for 2026?
GBP/AUD is forecast between 1.85 and 1.93 over the rest of 2026 and 1.83–1.95 over six months. It fixed at 1.8851 on 25 September 2026, down 6.1% this year.
What is the RBA interest rate now?
The RBA cash rate target is 4.35%, after rises in February, March and May 2026. It was held on 11 August, and the next decision is on 29 September 2026.
Why has the pound fallen against the Australian dollar in 2026?
The RBA raised rates three times while the Bank of England held. Australian rates moved from 0.15 points below Bank Rate to 0.60 points above it, which rewards holding Australian dollars over pounds.
Is now a good time to buy Australian dollars?
The pound is near the bottom of its 2026 range, so Australian dollars cost more in sterling than they did in January. Whether to act depends on your deadline and how much further RBA tightening you are prepared to risk. 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. In 2025 the pair peaked at 2.1296 on 4 April.
How long does a GBP to AUD transfer take?
GBP to AUD transfers usually arrive within one to two working days. Eastern Australia is 9 to 11 hours ahead of the UK depending on the season, 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. 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 at a credit institution in line with UK safeguarding rules. This article is general guidance, not a personal recommendation.
Sources: Reserve Bank of Australia Monetary Policy Board statement (11 August 2026); RBA Board meeting schedule; Australian Bureau of Statistics CPI (July 2026); Bank of England Monetary Policy Summary (September 2026); ECB euro reference rates (GBP/AUD derived).
