Australian Dollar Goes Up On A High
Australian Dollar Goes Up On A High
One of the things that Australian business visa holders have been following with regards to the country's economy is the value of the Australian dollar. As it is, the dollar's value against other currencies is an indication of the Australian economy's current strength. And this will definitely have and effect to businesses all over the continent.
And here is something that will definitely delight a lot of Australian business entrepreneurs. According to the latest figures from the currency trading scene, the Australian dollar is showing a great deal of strength. As of the Oct. 7 trading day, the Australian dollar was able to close at 0.98 US dollars to one AU$. This means that it now has an almost equal value to the American dollar in the trading market.
And aside from the US dollar, the Australian dollar also showed great strength against other highly traded currencies as well. It now has a value of 0.70 euros per dollar. It also posted similar values against the Japanese yen.
The rise of the dollar is actually considered by a lot of economic analysts as the peak of its growing strength in the past few months. In the last week of September, the Australian dollar posted 0.94 against the US dollar, which was a two year high. The recent peak, in turn, was a record high for the Aussie dollar in 27 years.
So what does this mean for the ordinary Australian. Well, it simply means that the Australian dollar now has more purchasing power, which also means that you will get more for the buck. And employees will also be delighted to know that, even though there will be no salary increases whatsoever, the higher value will almost equate to that one.
And many analysts are saying that it is actually just the start of the good part. According to their studies it is likely that the current strength of the Australian dollar will stay at that level for quite sometime after. This means that there will be quite a lot of time for the country to partake in the benefits brought about by the strong currency.
However, there are other economists who are saying that this is not the moment to be overjoyed just yet. As it turns out, a high Australian dollar is actually a double edged sword. Though the high levels would bring in a lot, it can also discourage foreign traders because of the higher cost of investment in the country. Thus, they advised the public to be prepared for such a predicament. Touring Agra And Its Amazing Mughal Monuments Travel Tips For Quito, Ecuador The Best Tourist Places To Visit In Goa Making Your Trip To Delhi One Of A Lifetime Salvador Da Bahia - Short Travel Profile What's should be taken in travel Bodrum, Turkey - Small Tourist Guide How to Beat the Heat In summer Faux Christmas Trees - Get the Best What I got from Strip that fat? Don't Forget The Cables This Christmas Distinctive Views On Picking Purses As a Christmas Present Gifts For Her - Keeping Out Of Trouble On The night Before Christmas