How to Convert a British Pound to AUD
Currencies from different countries vary in value every business day. Different factors such as interest rate changes, unemployment levels and trading deficits, change the value of each currency. Though rates of exchange can alter by the hour, trading money is usually done at the rate that the particular currency was trading for at the end of the previous business day. Converting the British pound (GBP) into Australian dollars (AUD) is simply a matter of looking up the conversion rate, and multiplying it by the amount of pounds you want to exchange.
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Instructions
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Find the currency exchange rate for the Australian dollar by looking in the business section of a major newspaper. Also, many currency exchange websites offer up-to-date rates of exchange. Rates will be given for exchanging both Australian dollars to British pounds, and also pounds to Australian dollars.
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Multiply the number of British pounds that you want to convert with the exchange rate in Australian dollars, use a calculator. For example, if you want to convert 1,000 British pounds, and the exchange rate for Australian dollars is 1.500, multiply 1,000 by 1.500. This would equal 1,500. Or in other words, 1,000 British pounds is worth 1,500 Australian dollars.
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Go to a bank or business that trades in currency exchange to physically change the British pounds into Australian dollars. However, note that you will be offered an exchange rate that is usually a few cents less than what you were quoted online, or in the newspaper (in the example of 1.500 being the exchange rate for AUD, you may be offered in the region of 1.45 as an exchange rate). This difference between the two quoted rates is how the bank/business makes a profit on the currency exchange transaction.
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