What is the Australian Dollar Rate?
The Australian Dollar Rate is the price in Australian dollars for one US dollar. The AUD/USD pair is commonly traded worldwide, and the AUD is often seen as an emerging market currency, due to Australia’s abundant natural resources.
As a result of these natural resources, Australia is one of the world’s leading commodity economies, and exports commodities such as iron ore and gold to markets around the world. This means that AUD rates can be strongly affected by changes in global demand for these raw materials, as well as interest in the country’s financial and equity markets.
Historically, the AUD was pegged at par with the British Pound (APS1 = UKPS1) from 1910 until 1971. Then, following the breakdown of Bretton Woods and the introduction of the floating exchange rate system, it was initially valued against the USD until 1974 when it was devalued against a basket of currencies in a move to ease volatility. Australia’s central bank, the Reserve Bank of Australia (RBA), has the responsibility for monetary policy and produces the money supply for the country. The RBA issues AUD notes in denominations of $5, $10, $20, $50 and $100, and coins in denominations of 5c, 10c, 20c, 50c, $1 and $2. Aussies are known for their plethora of nicknames for their currency, which mostly refer to the bright colours of the notes, with the pink 5-dollar note famously referred to as ‘fairy floss’, ’pink snapper’, 'prawn' and 'rasher'.
The AUD/USD has benefited نرخ دلار استرالیا recently from the USD’s softness as investors anticipate a less hawkish Fed and strong economic data. However, trade wards fears between the US and China could limit any gains for the Aussie.
MakeMyTrip offers a simple and secure way to buy copyright, via their app or website. They have a comprehensive portal which allows customers to select from a range of payment methods and can offer the best Australian Dollar rates. Customers can also choose to buy AUD for cash or a multi-currency Forex card.
When you send money to friends or family overseas, you’ll want to be sure that you get the most bang for your buck. Many banks advertise free or low-cost transfers, but add a hidden markup to the exchange rate that you end up paying. With Wise, you’ll always get the real, mid-market, exchange rate. Compare our rates with those offered by the big banks and you’ll see how much you can save. You can even set up an AUD alert to track the latest rates. It’s easy to get started and you can see your savings in your account within minutes.