Australian Dollar Essay

942 Words2 Pages
bulb-icon

Recommended: Importance of money essay

“With limited money you can survive, with more money you can live”. (Amit Kalantri, 2015) Money is one of the most important fragments of our livelihood, the way we live, behave, react and satisfy human needs and greed. Many people may not like to think so, but the ultimate truth is this, man cannot function without money in this escalating economy and society.

Majority of the people today are intrigued by the thought of travel. In the year ending of December 2012, a record of 8.2 million Australians departed Australia for a short term, either for leisure or business. (Australian Bureau of Statistics 2012) With so many people travelling oversees, the question of foreign currency is raised quite often. Travellers and businesspeople will have …show more content…

The Australian dollar once in 2011 reached its peak against the US greenback. It has deteriorated by approximately 20 percent since then. She also stated the stats on Australians buying Japanese Yen, three times higher than usual due to the lovely autumn weather in October in …show more content…

Compared to the US dollar, the Australian dollar has always remained a little weaker in the overall scenario. But the Australian dollar over the past decade has shown tremendous growth. It has appreciated very strongly against the US dollar, starting its growth trend in 2001. In 2001, the AUD was less than US $0.50. In 2011, the AUD reached a peak of US $1.10. This rise was attributed to several factors, but the major one to be classified is the boom in the mining sector in Australia. (The Australian Treasury n.d.) Since, the last 3 years or 36 months, the Australian dollar has been showing a decline against the US dollar. Since its peak, it has not recovered to a level where it was. The chart below shows the trend, growth and downfall of the Australian dollar against the US

Show More
Related

  • The Impact of the Global Financial Crisis on the Australian Economy

    2888 Words  | 6 Pages

    In response to the most challenging global economic conditions since the Great Depression, the 2009-2010 Budget and the Economic Stimulus Plan focused on nation building and was crafted to boost employment, create a solid foundation for future growth and place the Australian economy to capitalise on the global recovery.

    Read More

  • Arthur C. Brooks 'How To Get Americans Moving Again'

    1261 Words  | 3 Pages

    Throughout history, traveling both domestically and internationally has been a major aspect of American life. Whether traveling for work, vacation, or even just leisure, Americans have always been on the move. Although, from Arthur C. Brooks article, “How to Get Americans Moving Again,” it is evident that times are changing. In “How to Get Americans Moving Again,” Brooks portrays an America that has had an immense percentage decrease in the amount of Americans that domestically move between states. This decrease is due to a traveling environment that has left a vast amount of fear and uncertainty in the hearts of travelers, which has caused them to stay home. Considering the current circumstances that Americans are traveling in, which includes

    Read More

  • Exploring the Intricacies of Monetary Policy

    713 Words  | 2 Pages

    In this paper, I will explore the definition of monetary policy, the objectives of the monetary and the monetary policy bases.

    Read More

  • Essay On Canadian Penny

    1354 Words  | 3 Pages

    Federal Government Article Summary In May 2012 the Royal Canadian Mint stopped minting one-cent coins (pennies). The Canadian penny has been in circulation since Canada established its own currency in 1858. Canada is following the path of what several other countries such as Britain, France, Australia, Sweden and Spain did. They all got rid of their smallest unit of currency (even some countries such as Australia, Denmark and Sweden getting rid of several of their smallest coins).

    Read More

  • Economics of Haiti

    2353 Words  | 5 Pages

    "Australia." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. N.p., n.d. Web. 2 Dec. 2013. .

    Read More

  • Edward Hammond Hargraves's Gold Rush

    741 Words  | 2 Pages

    Business and commerce lowered their price of shovels and other tools for digging in order to make people buy so they can dig for gold. Unfortunately, it did have a negative effect as well because clerks and labourers resigned their job to dig for gold. Because of the gold rush, Australia became a developed country and also ameliorated their ranking on producing gold. Australia is known to be the number 1 gold producer in the world due to this important event. Also more migration was taking place in order to scavenge for gold in the gold field.

    Read More

  • Banjo Paterson's Waltzing Matilda

    695 Words  | 2 Pages

    It wasn’t just the Australians hoping for gold, there were thousands upon thousands of immigrants from overseas landing in Australia in the hopes of becoming rich. With the increased and rising population, it was getting harder for people to obtain employment and have enough money to support themselves and their families. -The Bush rangers: Were originally escaped convicts in the early years of the British settlement who had escaped from authorities and his in the Australian outback, never getting caught. -Booms, depressions, and trade unions: Rapid economic growth due to the gold rushes, White Australian Policy, stopped non-whites from entering Australia, Federation-countries joining together in agreement -The

    Read More

  • Two Dollars A Day Essay

    1298 Words  | 3 Pages

    The book two dollars a day by Kathryn Edin is a book that highlights a spiraling poverty in America. One thing I feel contributed to the poverty talked about in the book is some types of American political culture. People in America who are in need of welfare often won’t take it until they have become so impoverished there is no other option due to the stigmas that come with welfare. American political culture also creates a persona for poor people it often paints them as lazy minorities that don’t want to work though they would be capable if they tried too. The pull yourself up by the boot straps mantra only creates more detestation for the poor and impoverished that already don’t seem to fit into the American dream.

    Read More

  • ANZUS

    1126 Words  | 3 Pages

    Australia has a formal alliance with the United States, this is known as the ANZUS treaty. The alliance was originally developed when Australia and New Zealand shared the same concern for the threat of communism. Australia, being closely dependent on Great Britain their mother country, had sought out a greater sense of security and protection and this is when Australia turned to America. Australia’s bilateral relationship with the United States has been driven primarily by security needs. Although post-war, Australians seem to still be vulnerable in following the American culture and ideology. Americanization is a danger to Australia and it’s national identity. Americanization may assist in securing the bond and the security that the United States provides to Australia, yet the threat of losing Australian culture is clear.

    Read More

  • Essay On Floating Exchange Rate

    2810 Words  | 6 Pages

    Fixed exchange rate which is at times known as pegged exchange rate is an exchange rate regime where a country’s currency value is fixed against the value of another currency or to another measure of value such as gold.

    Read More

  • The Positive Impact of Teen Travel Abroad

    1528 Words  | 4 Pages

    Travel has increased throughout the years. According to World Tourism Organization travel has increased by 5% in 2013 with 1,087 million people traveling. This is an additional 52 million international travels from the previous year. This increase in travel has brought a very positive impact on many economies around the world and is predicted to continue to do so in the following years. In 2014 UNWTO believes international travel will continue to grow up to 4-4.5%. Throughout the world the places most influenced by the demand for tourism are Asia and the pacific, Africa, and Europe (World Tourism Organization UNWTO). This increase in travel has shown that more people have decided to immerse themselves into new experiences and cultures, and that travel companies believe that more and more people will begin and continue to travel.

    Read More

  • Demand For Money Essay

    801 Words  | 2 Pages

    If the money is the building blocks of the economy; then the interest rate is the price of those building blocks. The interest rate is the cost, the firms, and the individuals, will have to pay for the use of the money, the price is expressed as a percentage of the amount borrowed.

    Read More

  • Billabong Essay

    659 Words  | 2 Pages

    Throughout the recession, Billabong continued with higher prices for lesser attractive products, which allowed Quiksilver to increase its market share by reacting much quicker to the fast fashion trends. In conjunction, ASOS, the largest UK online fashion retailer, thrived in the online market which seemed to be ignored by Billabong. “The company’s profit from ordinary activities after income tax decreased from a profit of A$152.8 million (approximately $140.3 million) in FY2009 to a loss of A$233.7 million (approximately $214.5 million) in FY2010” (Billabong International Ltd. SWOT Analysis, 2015, p. 5). Although the U.S. recession caused significant damage to Billabong sales, the firm experienced positive exporting volumes supported by emerging markets of China and India. As a result of these demands, the Australian dollar strengthened and value was $1.66 compared to every U.S. dollar in February 2009 (Hill,

    Read More

  • Impacts of Urban Tourism

    1319 Words  | 3 Pages

    During the past few decades, traveling has greatly increased. Purposes of travel vary, some travel for business, some for leisure,

    Read More

  • Essay On Exchange Rate

    1267 Words  | 3 Pages

    As the foundation for the foreign exchange process, exchange rates are one of the most important elements in business, both internationally and domestically. Defined as the rate at which one currency may be converted into another, exchange rates are used by countries in order to purchase products or services from one another. When examining these exchange rates it is important to note that their two distinct types of rates used for global trade: nominal and real.

    Read More

More about Australian Dollar Essay

Open Document