Australian dollar rate at 11 month low
28 July, 2011
The Aussie Dollar rate has slipped to an 11-month low today of 1.9650 [mid-market], on speculation that Australia will increase their interest rates in the coming months.
This would be the first upward interest rate move by a developed economy, since the financial crisis started last September.
If you need to send money to Australia in the coming months, contact your currency company to discuss your transaction – if interest rates do start to go up in Australia, exchange rates could easily fall further still.
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