The Australian dollar against the US dollar exchange rate (AUDUSD) changes every second. This article shares bank forecasts to help you predict changes in the AUDUSD rate.
2022 AUD to USD: Get ready for a bumpy ride
Source: Australian Big 4 banks aggregate data
How will the AUDUSD perform in 2022?
Why is the AUDUSD rising in 2022?
There are many reasons why the Aussie dollar has been getting weaker.
These are the most likely:
- Vaccine rollout reduces coronavirus globally despite new strains
- Australian economy bounces back
- A weaker US dollar as the US economy struggles
- China’s demand for Australian commodities grow
- Economic growth on a global scale recovers
What do bank analysts think about the AUDUSD?
- ANZ – Expect the AUDUSD exchange rate to be 82 cents by June 2022
- Westpac – Predict the AUDUSD rate to be 80 cents by June 2022
- CBA – CBA forecast the AUDUSD rate to be 78 cents by the end of 2021
- NAB – NAB’s forecast shows the AUDUSD rate around 80 cents by the mid-year of 2022
3 Things to know about the AUDUSD
- AUD/USD tells you how many US dollars are needed to purchase one Australian dollar. This currency pair is also known as the "Aussie"
- The AUD/USD can fluctuate quickly. That’s why money exchange services offer rate alerts to help you get the best exchange rate
- Australia's economy relies heavily on raw materials exports, so the AUD/USD is heavily influenced by commodity prices
AUD bank forecast major crosses for 2022
Latest Australian Dollar to US Dollar news
If you are travelling overseas this year from Australia, the best time to buy US dollars with Australian dollars was in late February 2021. This is because the AUD/USD peaked at 0.7997 and has fallen gradually since. The same applies to anyone transferring money overseas in US dollars. In general, if you are buying US dollars with Australian dollars, you want the AUD/USD exchange rate to be as high as possible. The higher the rate, the better it is for you. It means that you will receive more US dollars for the same amount of Australian dollars (AUD).
Australian dollar exchange rates and forecasts change all the time. This article looks at bank predictions and is updated regularly.
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