The inflation rate between 1949 and 2023 can be estimated using the Reserve Bank of Australia's inflation calculator. According to the calculator, the inflation rate from December 1949 to December 2023 is approximately 1,755.6%.
This means that the purchasing power of 1 Australian pound in 1949 is equivalent to approximately 1,755.6% more in today's currency.
Therefore, to determine the value of 1 Australian pound in 1949 in today's currency, we can multiply the original amount by the inflation rate expressed as a decimal:
1 Australian pound in 1949 * (1 + 1,755.6% / 100)
= 1 * 18.56
= 18.56 Australian dollars
Therefore, the value of 1 Australian pound in 1949 is approximately equivalent to 18.56 Australian dollars in today's currency (as of my knowledge cutoff date).