The Continuing Rise of Australian Dollars And How You Benefit From It
The 2010-2011 financial year saw a dramatic rise in the value of Australian dollars. The AUD has become competitive against the US dollar and euro, and it only seems to be gaining in value.
Since the early 1990ís, the AUD has been growing steadily, and this is the highest it's been since 1983 when the Australian government ended exchange controls.
Experts predict the currency will continue to strengthen, having surpassed the US dollar value in 2011.
Why Are Australian Dollars On The Rise?
Australian dollars are growing for several reasons. This growth reflects global economic trends as well as the activity in Australia's domestic economy. Australia's economy is closely linked to the other economies of Asia, especially China.
As the Asian economy continues to grow, this trend is reflected in the value of Australian dollars. Much of this has to do with China.
Domestically, Australia's low market volatility is a major factor in its economic growth. It is a safe, economically healthy country which has grown steadily for 20 years. This slow, steady growth is a safer investment for foreign investors, and it's largely the country's stability that has kept Australian dollars on the rise.
The Benefits Of The High Australian Dollar
When Australian dollars appreciate in value against other currencies, there are multiple benefits for individual Australians, Australian businesses, and people investing in the Australian dollar.
For everyday people, a soaring Australian Dollar means more buying power overseas. This makes overseas travel a much cheaper option, and makes the purchasing of goods from other countries more affordable
Will Australian dollars continue to rise? The economy moves in often unpredictable ways, but it is predicted that as long as the country's economy grows steadily and the Asian region continues to expand, we'll see the AUD go from strength to strength. It's a great chance for Australians and currency investors alike to reap the benefits.For more information on the Australian currency, see our articles page.
Learn about the introduction of
Australia's decimal currency system
Explore the economic factors that are
driving the Australian currency
Reasons behind the dollar's rising value
and what it means for you
See the various coins and notes that are
currently in circulation within Australia