Buying and Selling Australian Dollars – Best Times?

AUDGBP Starts the Week Higher After Jobs Slump

Buying Australian Dollars

Following the Australian elections and new government, the Australian Dollar has seen a small gain over the beginning of the week. At its lowest, we saw GBP-AUG at 1.69 but has since moved in to the early 1.70s. As GBP-AUD was closer to 1.75 in the weeks prior, I don’t think it as unrealistic to expect GBP-AUD back at 1.75 and above.

As such, if I were buying AUD I would aim to exchange when GBP-AUD is above the 1.73 mark.

Selling Australian Dollars

Those selling Australian Dollars will have been pleased that the Election saw stability and strength for AUD, and the value of AUD gained by a couple of pence very swiftly. It may not seem like a world changing figure, however when you are exchanging tens of thousands it adds up to a significant figure very quickly!!

If I were selling AUD, I would be getting the exchange booked as soon as possible, to trade whilst the market rate is low 1.70s.

If you have an Australian Dollar transaction to book and unsure as to when to exchange, please feel free to drop me a line to discuss. As winners of ‘Best Rates of Exchange’ from both the Time and the Telegraph I am confident of being able to provide the very best prices!!

Andrew Bromley

01494 787 478

[email protected]