Pound Sterling / Australian Dollar - GBP/AUD

From an exchange value GBP/AUD = 2,50 in January 2000, the GBP/AUD cross (Pound sterling/Australian dollar) increased by 20% until a higher GBP/AUD = 3,00 registered on the Forex on September 2001.

A slow depreciation of the Pound sterling against the Australian dollar happened until September 2005 : the continuous increase of the farm raw material (widely exported by Australia) exchange rates and the very high interest rates fixed by the Australian central bank (until 8.25% in 2007) may be determinant factors in this slow depreciation.

With GBP/AUD = 2,3203 in September 2005, the cross remained between 2.300 and 2.50 until August 2007, as the Bank of England increased its rates.

A nearly-20% depreciation of the Pound sterling against the Australian dollar happened during the subprime crisis until June 2008 (GBP/AUD = 2,09, so a 20% decrease in a year), but the Pound raised again at GBP/AUD = 2,30 in November 2008.

It is only in 2009 when the worsening of the financial and stock-exchange crisis of the Fall 2008 had consequences on a depreciation of the pound against the Australian dollar, because the Australians central bank maintained its interest rates at 3% during the crisis (and was the first western bank to increase its rates during the Fall 2009) whereas the Bank of England, following the model of the Fed, decreased its to nearly 0%.

We had the exchange value GBP/AUD = 1,8019 in November 2009. This value decreased under 1.80 during October 2009.

So the Pound Sterling fell again by 20% in a year against the Australian dollar.