Stupid Australian $

[STL]

It would appear that rationality finally struck the Aussie dollar again. Let's see where it goes by the time we wake tmrw.

[llamatron]

It would appear that rationality finally struck the Aussie dollar again. Let's see where it goes by the time we wake tmrw.

It's back up over 70c as I type this.

[Kyle]

It's back up over 70c as I type this.

Whew...

[griffin]

Not any more. It's back down to 67c.

The yen is even worse to the AU$, with us losing almost half the value of our currency to it (from about 110y 2 months ago to 66y now).

[griffin]

Looking at this website that archives exchange rates:
http://www.gocurrency.com/index.htm
exactly 3 months ago (July 10th) to now (Oct 10th)

US$ 0.96 - 0.67 (down 29 or 30.2%)
£ 0.48 - 0.39 (down 9 or 18.75%)
¥ 103 - 66 (down 37 or 35.9%)
EU€ 0.60 - 0.49 (down 11 or 18.3%)
NZ$ 1.27 - 1.12 (down 0.15 or 11.8%)

We're even weakening to the NZ$, how pathetic does that make the AU$ if a 'more troubled economy' like NZ is doing better than we are on the cross-rates.
Every currency I checked had the AU$ dropping by 10-30% in the last 3 months, suggesting that it was either overvalued before (July was the peak) or now just unwanted.
Hell, even Zimbabwe is probably doing better than us...

[Sky Shadow]

Hell, even Zimbabwe is probably doing better than us...

I laughed when I read that. But then again... in July an Australian Dollar would have bought you $27,947 Zimbabwe. And today $1 AU = $177 Zimbabwe.

So in three months we're at 76% of where we were compared to the US$. And Zimbabwe have had something like a 23,886% improvement.

Sigh.

[griffin]

Ah, but about a month ago, Zimbabwe re-pegged their currency by cutting off 2 or 3 zeros, which makes it look like a huge improvement, when infact it is still fairly flat.