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 |
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Economic News
-
Australia: Consumer sentiment weakens in August
August 9, 2022
The Westpac-Melbourne Institute consumer sentiment index decreased to 81.2 in August from 83.8 in July, marking the lowest reading since August 2020.
-
Australia: Business confidence strengthens in July
August 9, 2022
The business confidence index produced by National Australia Bank (NAB) rose to 7.0 points in July from 1..4 points in June.
-
Australia: Retail sales growth eases in June
August 3, 2022
Retail sales growth expanded 0.2% in month-on-month seasonally-adjusted terms in June, down from May’s 0.7% increase. Looking at the details of the release, household goods and department store sales fell in June, as did food retailing.
-
Australia: RBA hikes rate further in August; hints at further hikes ahead
August 3, 2022
At its monetary policy meeting on 2 August, the Reserve Bank of Australia (RBA) hiked the official cash rate (OCR) from 1.35% to 1.85%, as had been widely expected by markets.
-
Australia: Inflation at over three-decades high in Q2
July 28, 2022
In the second quarter of 2022, consumer prices soared 1.8% over the previous quarter, following Q1’s 2.1% jump.
© Copyright: 2022. | Australia Exchange Rate | Privacy Policy | Cookies Policy | Terms & Conditions | Sitemap | RSS feed
