Australian Dollar


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Australian Dollar

The currency of Australia. It was introduced in 1966, replacing the Australian pound. It was initially pegged to the British pound, but later pegged to the U.S. dollar in 1967. It is now a floating currency and is one of the most widely traded currencies in the world. It is especially important in the South Pacific region, where a number of small nations either use the Australian Dollar or peg their currencies to it at a 1:1 ratio.
References in periodicals archive ?
A decline in the Australian dollar results in overseas investors suffering losses unless they are hedged.
The natural riposte from those who are long of Australian dollars is that the Australian economy is in better health than that of either the euro zone or the United States.
McLaren driver Lewis Hamilton has been fined 500 Australian dollars (Au288) for "behaving like a hoon" and performing boy racer stunts.
He said earlier there was an unwinding of aussie-kiwi long positions, which kept the NZ dollar bid as people liquidated out of Australian dollars.
''China's stronger-than-expected CPI data, meanwhile, added to market speculation that China will tighten its monetary policy further, which is reflected in the market's movements,'' she said, adding that currencies such as the euro and the Australian dollar could fall against the yen.
Australian dollar, while Panasonic went up by 1.4 percent to 1.151 Japanese
Every one-cent rise in the Australian dollar crimps cattle ranchers' revenue by 0.8 per cent, according to the Government's commodity forecaster, the Australian Bureau of Agriculture and Resource Economics, or Abare.
Overseas merchants who display prices to Australian consumers in Australian dollars will usually give consumers the choice to pay in the applicable foreign currency or in the Australian dollar equivalent, as converted by the merchant at their own exchange rate (using a process known as 'dynamic currency conversion').
Blackmore's market capitalization has grown from 550 million Australian dollars (377.27 million U.S.
In a speech, he said, 'The Australian dollar is still higher than most conventional estimates of fundamentals would indicate, notwithstanding its recent decline.
Emirates NBD said in a statement that it was pleased to issue again in the Australian Dollar market, having previously issued A$250 million in 2006, the first ever Middle East based institution to issue an Australian Dollar denominated transaction.
The Australian dollar may be losing its momentum as three major banks in Australia have lowered their forecasts due to the phasing out stimulus of the US Federal Reserve and China's commodity prices.

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