The Site Australian Exchange Rate

Australian Exchange Rate is a key issue, for Austrlians, and people visiting or exporting to Australia. The Australian dollar is currently the sixth-most-traded currency in world foreign exchange markets (behind the euro, US dollar, the yen, the pound sterling, and the swiss franc), accounting for over 6% of worldwide foreign-exchange transactions. The Australian dollar is popular with currency traders due to high interest rates in Australia, the relative freedom of the foreign exchange market from intervention by the Australian government, the general stability of the economy and political system, and the prevailing view that it offers diversification benefits in a portfolio containing the major world currencies (especially because of its greater exposure to Asian economies and the commodities cycle). In the inter-bank foreign exchange market AUD/USD is known simply as the "Aussie" On 9 December 1983, the Australian Labor government led by Prime Minister Bob Hawke and Treasurer Paul Keating "floated" the Australian dollar. From that point, movements in the Australian dollar reflected the credits and debits in the balance of payments. The terms of trade does not determine the value of the dollar but it is a major component of the balance of payments.