CHAIYES Posted March 18, 2009 Share Posted March 18, 2009 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. Link to comment Share on other sites More sharing options...
think_too_mut Posted March 18, 2009 Share Posted March 18, 2009 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. Link to comment Share on other sites More sharing options...
lannarebirth Posted March 18, 2009 Share Posted March 18, 2009 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 Link to comment Share on other sites More sharing options...
CHAIYES Posted March 18, 2009 Author Share Posted March 18, 2009 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. Link to comment Share on other sites More sharing options...
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