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Aussie surges on RBA rate hike; U.S. dollar slumps

03 Nov

The Australian dollar raced to a 28-year high against the greenback on Tuesday after a surprise Australian interest rate hike, while the U.S. currency fell ahead of a Federal Reserve meeting expected to produce a fresh round of monetary easing.

Aussie surges on RBA rate hike; U.S. dollar slumps

Interest rates of 5% and above are common for Australian Saving Accounts

Today US dollar is equal to Aussie dollar. In 2001, each US Dollar was equal to 2 Aussie Dollars. In early 2009, each US dollar was equivalent to 1.5 Aussie Dollars.

Tale of two currencies…

 

 

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Posted by on November 3, 2010 in banks, economy, forex, money

 

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