Pound strikes five-year high against the Australian Dollar
30 Jan 2015
The Pound has struck a five-year high against the Australian Dollar, following the news that the Reserve Bank is considering an interest-rate cut.
Compared to April 2013 when the Pound was last at a low against the Dollar, Sterling has strengthened by 33%. This means Brits exchanging £500 now receive an extra $233 (£166).
David Swann of Travelex comments: “The Australian Dollar’s slump is great for Brits, who are now getting the best rate for their Pounds since August 2009. For those planning a long trip or even a move out there, this will make a considerable difference to how far their budgets will stretch.
Travellers who are keen to lock in the current rate should consider using a Multi-currency Cash Passport: it’s a prepaid travel card where the exchange rate is applied at the time of loading. It is also chip and PIN protected meaning you can keep your currency safe in the lead up to and during your trip.