Exchange Rate Australian Dollar To Us Dollar History
The exchange rate between the Australian dollar (AUD) and the US dollar (USD) has been a topic of interest for many investors, traders and economists over the years. The exchange rate is the value of one currency in terms of another currency. This article will explore the history of the exchange rate between the Australian dollar and the US dollar.
Early History
The Australian dollar was introduced on February 14, 1966, replacing the Australian pound. At that time, the exchange rate between the Australian dollar and the US dollar was fixed at AUD 1.00 = USD 1.12. This fixed exchange rate was maintained until 1971.
1971-1980
In 1971, the fixed exchange rate system was abandoned, and the exchange rate between the Australian dollar and the US dollar became a floating exchange rate. During this period, the Australian dollar weakened against the US dollar, and by 1980, the exchange rate had fallen to AUD 0.60 = USD 1.00.
1980-1990
In the 1980s, the exchange rate between the Australian dollar and the US dollar fluctuated widely. The Australian dollar strengthened against the US dollar in the early 1980s, reaching a high of AUD 0.96 = USD 1.00 in 1983. However, the Australian dollar then weakened again, and by the end of the decade, the exchange rate had fallen to AUD 0.70 = USD 1.00.
1990-2000
The 1990s saw a relatively stable exchange rate between the Australian dollar and the US dollar. The exchange rate fluctuated between AUD 0.70 and AUD 0.80 to the US dollar for most of the decade, before falling to a low of AUD 0.49 = USD 1.00 in 2000.
2000-2010
The early 2000s saw the Australian dollar recovering against the US dollar. By 2008, the exchange rate had reached AUD 0.98 = USD 1.00. However, the global financial crisis of 2008-2009 led to a significant weakening of the Australian dollar, and the exchange rate fell to a low of AUD 0.60 = USD 1.00 in 2009.
2010-2020
The exchange rate between the Australian dollar and the US dollar has continued to fluctuate in the 2010s. The Australian dollar reached a high of AUD 1.10 = USD 1.00 in 2011, before weakening again. By 2016, the exchange rate had fallen to AUD 0.68 = USD 1.00. In recent years, the exchange rate has remained relatively stable, hovering between AUD 0.70 and AUD 0.80 to the US dollar.
Conclusion
The exchange rate between the Australian dollar and the US dollar has been subject to a range of economic and political factors over the years. While the exchange rate has fluctuated widely at times, it has generally remained relatively stable in recent years. Investors and traders continue to monitor the exchange rate closely, as it can have a significant impact on the value of investments and the profitability of businesses that operate across borders.