Australian dollar hits decade low against the Singdollar: S$1.00 = AUD1.08

The Australian dollar is at its lowest since 2009

The Australian dollar has dropped to its lowest level against the Singapore currency since the 2008 Global Financial Crisis. The Aussie dollar is weaker this morning after it traded at an intraday low of 1.0816 against the Singapore currency, according to Investing.com

The Australian dollar plummeted after a huge rate cut from the Reserve Bank of New Zealand as investors now expect the Reserve Bank of Australia to follow suit, as it did with rate cuts earlier this year.

It is about time to plan a holiday to Australia with the attractive exchange rate.

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S$1.00 = AUD1.05: Singapore dollar stronger than Australian dollar

1 Singapore dollar can now get you 1.05 Aussie dollar

Planning for a trip to Australia? This is a good time to visit the money changer.

The Singapore dollar rose to a 4-month high against the Australian dollar since the last time it hits S$1.00 = A$1.051 in January this year.

If we look at the 10-year chart, you can see that it is near its peak.

The decline of the Australian dollar is probably due to the result of the trade war between China and US. Australia’s economy is dependent on exports of its natural resources and a dampen China’s growth prospect will definitely affect the dollar.

If you are a prospective student going to Australia for your studies, good for you.

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