blue_chameleon said:
Interesting Facts:
The first time the USD surpassed the AUD was back in 1982. (Note: Aus was above US before that).
The highest the AUD has reached against the USD was AUD1.49:USD1 back in 1973. The lowest was AUD0.47:USD1 in 2001.
Before the drop below in 1982, the AUD has been above the USD continuously since back in the 1950's at least (I don't have data further back than that).
That is all.
interesting stats... but back in 1982 the exchange rate was pegged by the government... when the Australian dollar was floated in late 1983 (ie; people's buying and selling of the dollar would determine the value), it lost 40% of its value - so it was obviously pegged too high...
todays dollar has earnt its high value, primarily through our improving terms of trade (thankyou commodity boom)...
really, without the commodity boom our dollar wouldnt be much higher than 70c US.