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AUD-USD / Australian Dollar to US Dollar


The Australian dollar is the official currency in Australia. It is one of the major foreign exchange markets in the world and an important part of the forex market. The USD is currently at a low risk to USD AUD as there are several economic variables that explain such a relationship.

More About AUD-USD / Australian Dollar to US Dollar

Continue reading to learn more about:

What is currency?
What factors influence the USD/AUD exchange rate?
What's the difference between the USD and the AUD?
What exactly is foreign exchange?
Additional information about Australian Dollar to US Dollar


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What is currency?


Currency is the current accepted medium of exchange. It works in the same way that money does to purchase goods, except unlike money, which has been defined by government decree, currency has no economic worth behind it. The only value that currency holds is whatever the public thinks it holds.


 
 

What factors influence the USD/AUD exchange rate?



According to the foreign exchange market, the USD/AUD rate is influenced by the following factors:

•The supply and demand of the US Dollar in the currency market.

•The interest rates set by the Reserve Bank of Australia (RBA) and United States Federal Reserve (FED).

•Economic growth and inflation of each country.

•Economic policies of both countries.

•Strong or weak national currencies, such as the Chinese yuan, euro, and sterling.

 

What's the difference between the USD and the AUD?

The Australian dollar and the US dollar are both currencies that can be used to make payments and purchases, but their values fluctuate.
If you live in Australia you'll often need to convert US dollars into Australian dollars using a foreign exchange currency converter in order to pay for goods purchased overseas or travel easily.
 
  • What exactly is foreign exchange?

    Foreign exchange is an international market where one currency is traded for another. This market has grown tremendously over the years and now billions of dollars worth of currency changes hands on a daily basis. To put it simply: if you have Canadian dollars, you can use them to buy US dollars, Euros and Mexican pesos. Then you can go to another country and use the foreign currency there.
  • Additional information about Australian Dollar to US Dollar

    The AUD-USD currency pair is the most heavily traded cross and is denominated in Australian dollars, which are frequently traded with the US dollar for a variety of reasons. These include the significant size of Australia's economy and the sizable mutual trade that takes place. A strong US dollar allows Americans to buy more goods compared to other currencies because it creates greater purchasing power. On the flip side, a strong Australian dollar also provides Australians with a higher purchasing power, which is necessary globally in order to remain competitive as an exporting nation.