Pack your bags, the Aussie Dollar is rallying against the Pound and Yen

Which currencies is the Aussie dollar stronger against?

The Australian Dollar (AUD) has performed strongly against the Great British Pound and the Japanese Yen in recent weeks.

These currencies’ respective countries – both of which happen to be popular destinations for Australian travelers – are currently facing economic dilemmas, which is why the AUD is rising against them.

The federal opposition is also calling on the Albanian government to cover the cost of new passports for those affected by the Optus data breach.

As detailed below, there are several other countries’ currencies where the AUD is stronger.

It is important to note that the exchange rates used in the following conversions are the spot price – the exchange rates used by your credit card, debit card or foreign transaction service provider may offer a lower value due to the margins charged.

Also think about currency conversion fees when you travel or buy things from overseas.

See also: top credit cards for traveling

Great British Pound Sterling (GBP)


The AUD is currently buying ££0.60 or 60p. This is the strongest level since Brexit in 2016.

The pound’s fall comes as new Prime Minister Liz Truss announced tax cuts and loans £290 billion for it.

The amount of money currently flowing into the UK economy has caused inflation to spike, which currently stands at an annualized 9.9% – much higher than Australia’s 6.1%.

“The Bank of England rightly does not want to be dragged into a panic hike in interest rates, although it needs to put on its skates to get inflation under control,” noted economists at ANZ Bank.

Despite high inflation, according to The Economist Big Mac Indexa Big Mac in the UK costs £3.69 or AUD$6.15 – that’s cheaper than Australia’s $6.70.

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Japanese Yen (JPY)


As the AUD strays a bit from the highs seen earlier in the month, the AUD is currently buying ¥93.13 JPY.

That’s an improvement of more than 15% compared to last year.

A Big Mac costs 390 yen, or about 4.19 AUD.

The yen has been on a downtrend lately, losing more than 20% against the US dollar year to date.

This has spooked the Bank of Japan into buying up the yen to strengthen it. This is the first time the Bank of Japan has intervened in FX markets in 25 years.

Better yet, the Japanese government is lifting Covid-induced travel restrictions from October 11, meaning Aussies can travel to the country without a visa and without a travel agent.

Other popular countries and currencies worth checking out

  1. Norway – NOK: 6.96 kroner (+11.00% yoy)
  2. New Zealand – NZD: $1.14 (+9.62%)
  3. Denmark – DKK: 4.99 kroner (+8.24%)
  4. Euro – EUR: €0.67 (+8.06%)
  5. South Africa – ZAR: 11.59 Rand (+5.94%)

No luck for those traveling to the States

The AUD is currently buying $0.64, or 64 cents – down almost 15% from a recent high of 75 cents in April.

A BigMac in there the land of the free and home of the brave costs 5.15 USD or 7.99 AUD.

In the US, annual inflation is currently at 8.3%, down slightly from 9.1% in June.

The US dollar is often viewed as a “safe haven currency” to which others flock to in uncertain times.

To curb inflation, the US Federal Reserve also raised interest rates to 3.25%, up 275 basis points (2.75%) since April.

These two factors are the reason behind the USD strengthening.


Need a place to store cash and earn interest? The table below shows savings accounts with some of the highest interest rates on the market.


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  • Download the app and get a $20 bonus*
  • Withdraw money at any time without affecting your bonus rate.
  • Earn bonus interest on up to $250,000 combined balance on all your Save accounts.
  • *Must complete 3 transactions within 30 days
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4 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
4 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
1000 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
500 1 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
250 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
2000 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
4 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
1 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
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4 1 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
50 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
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6 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
1 1 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
10 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
3 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
5 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details
100 $product[$field[“value”]] $product[$field[“value”]] $product[$field[“value”]] More details

The products that appear in the table above are first sorted based on a variety of factors, including the availability of a direct link to the vendor’s website and other commercial factors (see How We Get Paid). However, the comparison table allows calculations on variables as selected and entered by the user. Some products are marked as Promoted, Featured or Sponsored and may appear prominently in the charts regardless of their attributes. Data may not be available for some products. This is indicated in the tables by the fact that no available product is displayed for the corresponding term. Minimum deposits, bonus rate terms, other terms, fees and charges may apply. The above was prepared without considering your goals, financial situation or needs, so please consider appropriateness for your circumstances. General information and terms and conditions can be found on the website of the respective provider. Prices valid from September 28, 2022. View disclaimer.

Head photo of Fidel Fernando on Unsplash

Beer photo by Dan Barrett on Unsplash

Ramen photo by Diego Lozano on Unsplash