The US dollar came out on top at the start of this week’s session, bouncing back from its recent lows as investors sought to pick up the currency at bargain prices.
US dollar to Australian dollar exchange rate latest
Every day people across the world use the USD/AUD exchange rate to send money to Australia. Whether you’re transferring money for personal or business reasons, securing a bank-beating exchange rate can make a big difference to how much you receive.
Key facts about the USD/AUD exchange rate
The USD/AUD pairing was the fourth most commonly traded exchange rate during 2016, being involved in over 5% of all transactions.
Don’t forget! These are interbank exchange rates.
- Once the initial shock of the financial crisis had abated somewhat, USD/AUD hit its highest levels in the last ten years towards the end of October 2008, when the pairing struck AU$1.6531.
- July 2011 saw the USD/AUD exchange rate hit its lowest levels during the same period after the US dollar fell to AU$0.9064. This was because inflation reached 3.6%, driving up bets that the Reserve Bank of Australia (RBA) would hike interest rates that year.
Currency information for US dollar and Australian dollar
The US dollar is often referred to as the ‘Greenback’ or the ‘Buck’, while the Australian dollar is called the ‘Aussie’.
Australian dollar notes are available in denominations of $5, $10, $20, $50 and $100. The RBA pioneered the use of polymer bank notes, so there is no paper money left in circulation in Australia. Because of their bright colours, each note has a nickname, such as the red ‘Lobster’ AU$100 bill. Australian dollar coins come in A$2, A$1, 50 cents, 20 cents, 10 cents and 5 cent versions.
Major influencers of USD/AUD exchange rate movement
The US dollar is a more stable currency than the Australian dollar. AUD is known in the markets as a high-yield or high-risk asset, but this does not mean your transfer is not safe. It simply means that the Australian dollar can be more unpredictable because it is so reactive to external events. The Australian economy is heavily reliant upon iron ore mining and exportation, so developments in the global iron ore market can have a significant impact upon USD/AUD exchange rates.
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The Australian dollar (AUD) struggled at the beginning of last week after it was revealed that Japan’s economy – the third largest in the world – had suffered a sharper-than-expected contraction in business activity in July.