Exchange Rate For Indonesian Rupiah To Australian Dollar
Exchange rates play a crucial role in international trade and tourism. The exchange rate between two currencies determines the value of one currency in terms of another. In this article, we will discuss the exchange rate for Indonesian Rupiah to Australian Dollar.
Indonesian Rupiah (IDR)
The Indonesian Rupiah, denoted by IDR, is the official currency of Indonesia. The Bank of Indonesia is responsible for issuing and regulating the currency. The Rupiah is subdivided into 100 sen, although inflation has rendered all coins and banknotes denominated in sen obsolete.
The Rupiah was introduced in 1946, replacing the Dutch East Indies Guilder. The currency has experienced periods of high inflation and devaluation over the years. However, the Indonesian government has taken steps to stabilise the currency in recent times.
Australian Dollar (AUD)
The Australian Dollar, denoted by AUD, is the official currency of Australia. The Reserve Bank of Australia is responsible for issuing and regulating the currency. The Australian Dollar is subdivided into 100 cents.
The Australian Dollar was introduced in 1966, replacing the Australian Pound. The currency has been relatively stable over the years, with minor fluctuations due to global economic events.
Exchange Rate
The exchange rate between two currencies is determined by the supply and demand of each currency in the foreign exchange market. The exchange rate for Indonesian Rupiah to Australian Dollar is influenced by a range of factors, including inflation, interest rates, and economic growth.
As of September 2021, the exchange rate for Indonesian Rupiah to Australian Dollar is approximately 0.000087. This means that one Australian Dollar is equivalent to approximately 11,508 Indonesian Rupiah.
Factors Affecting Exchange Rate
Exchange rates are influenced by a range of factors, including:
- Inflation rates
- Interest rates
- Economic growth
- Political stability
- International trade and investment
- Market speculation and sentiment
Changes in any of these factors can impact the exchange rate between two currencies.
Impact of Exchange Rate
The exchange rate between two currencies can have a significant impact on international trade and tourism. A weaker currency can make exports cheaper, which can boost a country's economy. On the other hand, a stronger currency can make imports cheaper, which can benefit consumers.
The exchange rate can also impact tourism, as a weaker currency can make a country a more affordable destination for foreign tourists.
Conclusion
In conclusion, the exchange rate for Indonesian Rupiah to Australian Dollar is influenced by a range of economic and political factors. As of September 2021, one Australian Dollar is equivalent to approximately 11,508 Indonesian Rupiah. The exchange rate can have a significant impact on international trade and tourism, and changes in the exchange rate should be monitored closely by businesses and travellers.