Currency Exchange

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What's a Good Rate?

The biggest factor in you getting the most Aussie dollars in your pocket is the prevailing exchange rate (ok, pretty obvious) and unless you're a billionaire you have no control over that.

However, you still have to decide what is a "good rate" to set your sights on - not so obvious.

Let's look at the AUD/GBP exchange rate since 1990 - that's 26 years.

During this period the exchange rate has been as high as 3.02 dollars to the pound in 2001 and as low as 1.44 in 2013. The average over this period has been 2.21

Over the last 5 years to Feb 2016, the average was 1.73. Over the 12 months to Feb 2016, the average was 2.05

So What is a Good Rate?
Of course, there's no real answer. If you like stats and graphs, you can and should use them. Also, you can and probably should seek advice from currency specialists, but in the end nobody knows for sure whether the current rate is going to move up or down, by how much and in what timeframe.

If the rate is not currently 'good', how long are you prepared to wait for it to improve? This will depend on your personal circumstances; if you want to buy a house in Australia, you may have to accept a lower exchange rate so that you can get into the property market and move on with your new life.