By 30 November, the Australian dollar (AUD) had depreciated 4.9% in nominal terms over the previous month and was trading at parity with the U.S. dollar (USD). The November drop contrasted the 6.9% appreciation recorded in October, when the AUD traded at 1.05 USD per AUD. As a result of the November decrease, the AUD has now depreciated an accumulated 1.4% versus the USD this year, but, at its current level, the AUD is still trading 4.2% stronger than in the same month last year. Furthermore, the value of the AUD remained stable at the beginning of December, with the Australian dollar still trading at parity on 15 December. The AUD's depreciation reflects expectations of slowing global demand and more subdued growth prospects for China, the main destination for Australia's export commodities.
Australia Exchange Rate
Australian dollar drops in November
December 15, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.