Exchange Rate in Australia
Australia - Exchange Rate (average of period)
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 (aop) Data
|Exchange Rate (vs USD, aop)||0.75||0.74||0.77||0.75||0.70|
5 years of economic forecasts for more than 30 economic indicators.
Australia Exchange Rate (aop) Chart
Source: Thomson Reuters.
|Bond Yield||1.37||1.47 %||Dec 31|
|Exchange Rate||0.70||0.05 %||Dec 31|
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June 9, 2021
GDP rose 1.8% in seasonally-adjusted quarter-on-quarter terms in Q1, benefiting from strong fiscal and monetary stimulus.
June 6, 2021
At its monetary policy meeting on 1 June, the Reserve Bank of Australia (RBA) decided to keep the cash rate unchanged at the all-time low of 0.10%.
June 3, 2021
Nominal retail sales grew 1.1% month-on-month in seasonally-adjusted terms in April (March: +1.3% s.a.
May 20, 2021
Seasonally-adjusted employment decreased by 30,600 in April, following 77,000 jobs gain in March and surprising markets on the downside.
May 20, 2021
The business confidence index produced by National Australia Bank (NAB) jumped to 26.0 points in April from 16.7 points in March, marking a record-high reading.