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
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Exchange Rate (vs USD) | 0.73 | 0.72 | 0.78 | 0.71 | 0.70 |
Australia Exchange Rate Chart
Source: Thomson Reuters.
Australia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.37 | 1.47 % | Dec 31 |
| Exchange Rate | 0.70 | 0.05 % | Dec 31 |
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Economic News
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Australia: Retail sales rebounds robustly in March
May 10, 2021
Nominal retail sales in March increased 1.3% over the previous month in seasonally-adjusted terms, swinging from February’s 0.8% drop.
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Australia: RBA stands pat in May
May 5, 2021
At its monetary policy meeting on 4 May, the Reserve Bank of Australia (RBA) decided to keep the cash rate unchanged at the all-time low of 0.10%.
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Australia: Inflation ticks up in Q1 2021
April 28, 2021
In the first quarter of 2021, consumer prices rose 0.6% over the previous quarter, following a 0.9% increase in Q4 2020.
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Australia: Retail sales rebounds robustly in March
April 21, 2021
Nominal retail sales in March increased 1.4% over the previous month in seasonally-adjusted terms, swinging from February’s 0.8% drop and beating market expectations of a 1.0% rise, according to preliminary figures.
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Australia: Consumer sentiment at over 10-year high in April
April 19, 2021
The Westpac-Melbourne Institute consumer sentiment index surged to 118.8 in April from 111.8 in March, logging the strongest reading in over 10 years.
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