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Australia's Economy: The US Dollar

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Australia's Economy: The US Dollar
Australian dollar highest value relative to the US dollar was $0.881 in December 1988. Its lowest after it was floated was 47.75 US cents in the April of 2001. Returning to over 96 US cents in June 2008, and reaching 98.49 at a later period that year. Even though the value of the Australian dollar decreased considerably from this elevated point nearing the end of 2008, it slowly improved in 2009 to 94 US cents.

The Australian dollar obtained parity with the US dollar for the first time after becoming a freely traded currency. The currency traded over parity for a continual period of quite a few days in November, and varied around that spot into 2011.
Some assert that the worth of the dollar in 2011 is linked to Europe’s monarch debt crisis, and Australia’s tough ties with material importers of Asia and especially China. …show more content…
Since decades, Australia’s balance of trade has rested chiefly upon commodity exports such as minerals and agricultural products. This means that the comparative value of the dollar ranges significantly during the business cycle, during global booms rallied. This movement is in the contradictory direction to reserve currencies, which are likely to be tougher during market
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