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: Unemployment rate at eight-month low in December
January 21, 2021
Seasonally-adjusted employment soared by 50,000 in November, following 90,000 jobs gain in November.
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Australia: Consumer sentiment dips in January
January 21, 2021
The Westpac-Melbourne Institute consumer sentiment index dropped to 107.0 in January from 112.0 in December—which had marked the highest reading since October 2010.
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Australia: Retail sales jump in November
January 11, 2021
Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.
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Australia: Unemployment rate drops in November
December 17, 2020
Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800).
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Australia: Business confidence at highest level in close to three years in November
December 11, 2020
The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018.
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