Australian dollar - AUD

AUD - Australian Dollar Our currency rankings show that the most popular Australia Dollar exchange rate is the USD to AUD rate. The currency code for Dollars is AUD, and the currency symbol is $.

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The Australian dollar, also known as the Aussie, is Australia's national currency. It is currently the world's fifth most traded currency. The Australian dollar is involved in % of all global foreign exchange trading, according to a recent survey from the Bank for International Settlements.

Australia's ties to China and the 'hard' commodities it produces have fostered a historical relationship between the local currency and precious metals. The value of the Canadian Dollar is strongly correlated with the price of crude oil as the country remains a dominant exporter of the commodity. Both currencies are therefore sensitive to broader commodity price trends. After weakening in its final moments of , the Australian Dollar may be getting ready to reverse course.

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Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment. E-Mail Please enter valid email. These factors made the AUD very popular among currency traders. Australia is a big exporter to China and its economy and currency reflect any change in the situation in that country. The prevailing view is that the Australian Dollar offers diversification benefits in a portfolio containing the major world currencies because of its greater exposure to Asian economies.

This correlation with the Shanghai stock exchange is to be added to the correlation it has with gold. In the financial world, gold is viewed as a safe haven against inflation and it is one of the most traded commodities. Australia's dependency on commodity mineral and farm exports has seen the Australian Dollar rally during global expansion periods and fall when mineral prices slumped, as commodities now account for most of its total exports.

The AUD is under a free floating regime since Before that it was pegged to a group of currencies called the trade weighted index TWI. Reserve Bank of Australia RBA that issues statements and decides on the interest rates of the country. Its president is Philip Lowe.

Australian Government headed by Malcolm Turnbul and its Department of Finance whose minister is Mathias Cormann that implement policies that affect the economy of the country. The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis.