By 31 August, the Australian dollar (AUD) had depreciated 2.5% in nominal terms over the previous month and traded at AUD 1.0691 per USD, marking the 7th consecutive month that the AUD traded above parity against the U.S. dollar. The August depreciation contrasted the 2.0% appreciation observed in July and, in fact, represented the fastest monthly depreciation since May 2010. In addition, the end-of-month reading constituted the lowest level at which the AUD was traded over the previous five months. Despite the monthly drop, the AUD has now appreciated an accumulated 5.2% versus the USD this year and, at the current level, is trading 19.9% stronger than in the same month last year. The AUD remains strong on the back of high prices for iron ore and coal, its key commodity exports, which reflects booming demand from China and emerging Asian economies.
Australia Exchange Rate
Australian dollar weakens in August
August 31, 2011
Looking for forecasts related to Exchange Rate in Australia? Download a sample report now.
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.