Exchange Rate in Australia
Australia - Exchange Rate
Australian dollar slides to weakest value in over six years
On 7 September, the Australian dollar (AUD) fell to 0.69 USD per AUD, bringing the exchange rate to levels not seen since 2009. The figure marked a 25.9% annual deterioration and a 6.0% weakening from the same day last month. Since 7 September, the currency has levelled off and has stabilized around the 0.71 USD per AUD mark.
The value of the AUD has been steadily declining over the past year, and has roughly been in line with the winding down of commodity prices that began in mid-2014. Indeed, the devaluation of the currency has been welcomed by the Reserve Bank of Australia, which had called for a weaker dollar in order to stimulate growth as the economy slowed.
The depreciation of Australia’s terms of trade since the beginning of the year does not show any signs of abating. The Chinese economy is enduring structural problems that are limiting growth and thereby reducing demand for Australian exports. Furthermore, concerns over instability surrounding a Fed rate hike, and a strengthening USD, will likely add to the downward pressure on the value of the AUD.
FocusEconomics Consensus Forecast panellists expect the USD to trade at 0.71 per AUD at the end of this year. For 2016, the panel projects the USD to trade at 0.71 per AUD.
Australia - Exchange Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 0.89 | 0.82 | 0.73 | 0.72 | 0.78 |
Australia Exchange Rate Chart
Source: Thomson Reuters.
Australia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.33 | 1.47 % | Jul 11 |
| Exchange Rate | 0.70 | 0.05 % | Jul 11 |
| Stock Market | 6,806 | 0.08 % | Jul 11 |
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Economic News
Australia: Softest job addition in close to one year in June
July 18, 2019
Seasonally-adjusted employment increased by a meagre 500 in June from the previous month, following the revised 45,300 jobs added in May (previously reported: +42,300 jobs).
Australia: Consumer sentiment plunges to near two-year low on worse short-term expectations at the outset of Q3
July 10, 2019
The Westpac-Melbourne Institute consumer sentiment index dived to a 23-month low of 96.5 in July from 100.7 in June.
Australia: May registers anaemic retail sales growth
July 4, 2019
Nominal retail sales in May inched up 0.1% over the previous month in seasonally-adjusted terms, swinging from April’s 0.1% dip.
Australia: RBA cuts rates again in July to new record low to combat slowing economy
July 2, 2019
At its 2 July monetary policy meeting, the Reserve Bank of Australia (RBA) trimmed the cash rate for a second consecutive month to a fresh all-time low of 1.00% from 1.25%.
Australia: Unemployment rate steady but employment surges in election month
June 13, 2019
Seasonally-adjusted employment increased by 42,300 in May from the previous month, following the revised 43,100 jobs added in March (previously reported: +28,400 jobs) and more than doubling analysts’ expectations of a gain of 17,500.
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