AUD

The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($); A$ or AU$ are often used informally to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.The Australian dollar is currently the sixth-most-traded currency in the world^[1] foreign exchange markets, (behind the US dollar, the euro, the yen, the pound sterling, and the swiss franc), accounting for over 6% of worldwide foreign-exchange transactions. The Australian dollar is popular with currency traders due to high interest rates in Australia, the relative freedom of the foreign exchange market from governmental intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies (especially because of its greater exposure to Asian economies and the commodities cycle).

Monday, November 2, 2009

Leaders beg Reserve Bank of Australia to show restraint
A CHORUS of business leaders, led by Aussie chairman John Symond, has pleaded with the Reserve Bank to take baby steps in its push to raise interest rates away from "emergency levels".
A CHORUS of business leaders, led by Aussie chairman John Symond, has pleaded with the Reserve Bank to take baby steps in its push to raise interest rates away from "emergency levels".
The RBA stands to cripple thousands of homeowners if it raises official interest rates too rapidly, in increments of more than 0.25 per cent, or by lifting rates above five per cent within a year, the home loan tsar told business leaders in Sydney yesterday, The Daily Telegraph reports.
www.dailytelegraph.com.au/

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