Australian Politics Forum - Australian dollar collapses- DONT PANIC!!!

Jasin Gold Member Online Posts: 49002 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #15 - Jan 14^th, 2025 at 5:03pm It's usually $1.20 for NZ
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Bobby. Gold Member Online Australian Politics Posts: 105774 Melbourne Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #16 - Jan 14^th, 2025 at 5:06pm Jasin wrote on Jan 14^th, 2025 at 5:03pm: It's usually $1.20 for NZ Nah - it's been about a 10% advantage for 20 years.
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Bobby.

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Re: Australian dollar collapses- DONT PANIC!!!
Reply #17 - Jan 14^th, 2025 at 5:07pm

Jasin wrote on Jan 14^th, 2025 at 5:01pm:

Australia has been at 60+Cents before, many times. Rarely at 90c+ at the most.
As always, the low value is justified by being great for trade, rather than a currency exchange rate for a holiday.
People who like spending money overseas on holidays are no different than those who import.

Does anyone know what the Australian dollar was worth?
When, during Lockdowns, Australians were still free to roam inside Australia with work and 'inside' trading, as it became the #1 Economy in the world for that period.

Did we bounce back up to 90c+ ?

I can't understand economics -
the Yanks are $35 trillion in debt yet their currency is still high in value.

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Jasin Gold Member Online Posts: 49002 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #18 - Jan 14^th, 2025 at 5:08pm It was $1.20 when... oh yeah, I was last there in NZ 2008
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Jasin Gold Member Online Posts: 49002 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #19 - Jan 14^th, 2025 at 5:09pm It's a rigged economy for sure. Lol
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Bobby.

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Re: Australian dollar collapses- DONT PANIC!!!
Reply #20 - Jan 14^th, 2025 at 5:23pm

Jasin wrote on Jan 14^th, 2025 at 5:09pm:

It's a rigged economy for sure. Lol

I think even the Yanky holdings of gold doesn't even add up to $1 Trillion
and that is 8,133 tonnes.
https://www.visualcapitalist.com/the-top-10-countries-by-gold-reserves-in-2024/

At a value of $86.5M per tonne that equals $692 billion.

Yet they are in debt for $34 trillion. Shocked

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Frank

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Re: Australian dollar collapses- DONT PANIC!!!
Reply #21 - Jan 14^th, 2025 at 6:02pm

China's yuan is given almost a 30 per cent weighting in the basket of currencies that matter to us, versus just 8.7 per cent for the US dollar.

China's property crash is bad news for Australia's economy, and there's even a risk it could precipitate our own housing crisis.

To a large extent, it is China's economic woes weighing on Australia.

For the past five years, it has been in the thrall of a debilitating property market collapse that has shaken its economy to the core, crimping national economic growth and causing a serious bout of deflation.

Given we're joined at the economic hip, global speculators often trade the Australian dollar as a proxy for China's health.

It's not great now and the bets are on that it will continue to deteriorate.

ABC

We shouldn't be joined at the economic hip to China. Not a trustworthy, reliable, friendly country to depend on.

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Estragon: I can’t go on like this.
Vladimir: That’s what you think.

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MeisterEckhart Gold Member Online Australian Politics Posts: 12716 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #22 - Jan 17^th, 2025 at 10:32am While the Australian dollar is on the lower end of the relatively 'normal' range at 67.71, it's holding its own against a sustained strong US dollar at over DXY 109, which appears to be aiming at the strength it had in mid-2022 at over DXY 114.
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John Smith Gold Member Offline Australian Politics Posts: 74797 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #23 - Jan 17^th, 2025 at 10:33am freediver wrote on Jan 14^th, 2025 at 5:00pm: Only to the US. I don't think exchange rates to other currencies have been affected much. Absolutely they have
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freediver Gold Member Offline www.ozpolitic.com Posts: 49190 At my desk.	Re: Australian dollar collapses- DONT PANIC!!! Reply #24 - Jan 17^th, 2025 at 10:51am The AUD to the Euro has been steady for about 12 months. The Euro to the USD is following the same trend as the AUD to the USD.
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MeisterEckhart

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Re: Australian dollar collapses- DONT PANIC!!!
Reply #25 - Jan 17^th, 2025 at 11:13am

Bobby. wrote on Jan 14^th, 2025 at 5:07pm:

I can't understand economics -
the Yanks are $35 trillion in debt yet their currency is still high in value.

The US dollar is currently the only world's reserve currency.

All nations need a reserve of US dollars to do business.

The whole point of a planned BRICS currency is to challenge the US dollar's monopoly on international trade.

Good luck with that! The US has been running the world's trade since WW2 with its dollar.

The BRICS countries lack confidence in each other's currencies, and the key ones, China and India, are technically at war over their shared border... Russia is a basket case.

It's a good bet that none will ditch the US dollar in the next 20 years.

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freediver Gold Member Offline www.ozpolitic.com Posts: 49190 At my desk.	Re: Australian dollar collapses- DONT PANIC!!! Reply #26 - Jan 17^th, 2025 at 11:21am Quote: All nations need a reserve of US dollars to do business. Wrong. Quote: the US dollar's monopoly on international trade The Euro and Yuan are already doing that. Even the Australian dollar is popular, well beyond what our GDP would dictate, due to our political and financial stability.
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MeisterEckhart Gold Member Online Australian Politics Posts: 12716 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #27 - Jan 17^th, 2025 at 11:41am The US dollar is used in over 55% of all world trade - greater than all others combined. Countries like Russia that have ceased (or were forced to cease) using the US dollar, rely on commodities like gold.
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freediver Gold Member Offline www.ozpolitic.com Posts: 49190 At my desk.	Re: Australian dollar collapses- DONT PANIC!!! Reply #28 - Jan 17^th, 2025 at 11:50am Quote: The US dollar is used in over 55% of all world trade Where did you get that number from? 55% is not a monopoly. Quote: Countries like Russia that have ceased (or were forced to cease) using the US dollar, rely on commodities like gold.
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MeisterEckhart Gold Member Online Australian Politics Posts: 12716 Gender:	Re: Australian dollar collapses- DONT PANIC!!! Reply #29 - Jan 17^th, 2025 at 12:36pm Russia has been using gold as a strategic resource to trade for goods and hard currency since the invasion of Ukraine https://www.euronews.com/my-europe/2024/12/09/what-is-the-role-of-gold-in-russia...
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