Would appreciate any financial wizards here who can shine some light on why the the Aussie Dollar took a nose dive against the USD in August 2008. It dropped from 95cents to the USD down to an all time low below 65 cents in one month.!

It is now 7 months and shows no sign of recovery.

Many thanks.

Would appreciate any financial wizards here who can shine some light on why the the Aussie Dollar took a nose dive against the USD in August 2008. It dropped from 95cents to the USD down to an all time low below 65 cents in one month.!

It is now 7 months and shows no sign of recovery.

No need for a wizzard, it's a common knowledge. A$ was high on China's unsatiable hunger for commodities in the lead to the Olympics.

It's not concidence that A$ fell right after the Games in August.

It's not coincidence that it is not recovering as markets for commodities are not recovering and the prices are down to 30% of former level.

Lowering interest rates by the Reserve Bank of Australia (five times in as many months) contributed further.

To me, being paid in Yen, it makes me stand out: in A$ I am paid more than Kevin Rudd, the PM. Thanks to to A$ crash. Pity no need to spend money in Oz.

Would appreciate any financial wizards here who can shine some light on why the the Aussie Dollar took a nose dive against the USD in August 2008. It dropped from 95cents to the USD down to an all time low below 65 cents in one month.!

It is now 7 months and shows no sign of recovery.

Many thanks.

Here's an old thread on the subject which may be helpful:

http://www.thaivisa.com/forum/Thoughts-pre...Ex-t198942.html

Would appreciate any financial wizards here who can shine some light on why the the Aussie Dollar took a nose dive against the USD in August 2008. It dropped from 95cents to the USD down to an all time low below 65 cents in one month.!

It is now 7 months and shows no sign of recovery.

Many thanks.

Here's an old thread on the subject which may be helpful:

http://www.thaivisa.com/forum/Thoughts-pre...Ex-t198942.html

Ok thanks chaps.

Unfortunately the AUD/THB exchange rate has a direct corelation to the AUD/USD exchange rate, so remitting funds from AUD to THB incurs noticeable exchange rate loses.