Australian dollar falls close to its lowest point in over 10 years

In short

1. The Australian dollar fell again overnight
2. The AUD/USD is close to it's lowest point in 11 years
3. The local currency is also falling against the Euro, Japanese Yen, British Pound and New Zealand Dollar

The Australian dollar hit 0.6704 this morning against the US dollar. While the AUD has been falling for a while, it hasn't been this low in almost 11 years.

• The AUD to USD exchange rate is at it's lowest point since the Global Financial Crisis in 2009
• The AUD to EUR exchange rate is at 0.6087, just above it's 10 year low of 0.6000
• The AUD to GBP exchange rate is at 0.5130 - the lowest point since June 2016
• The AUD to JPY exchange rate is just above a 3 month low of 73.12
• The AUD to NZD exchange rate is barely higher than it's 10 year low, trading at 1.0350

Is a lower Australian dollar bad?

It depends on your circumstance.

A lower Aussie dollar is good for:

1. Exporters because the goods they sell are now cheaper and more competitive for overseas buyers
2. Tourism operators in Australia. It means overseas tourists are more likely to arrive and Australian tourist are more likely to holiday at home
3. Organisations that cater for overseas students. A lower exchange rate makes studying in Australia cheaper

A lower Aussie dollar is bad for:

1. Importers because the goods they are buying from overseas are more expensive
2. Australians that want to travel overseas. A lower Aussie dollar means they get less bang for their buck
3. Overseas expats working in Australia. Their Australian dollar wages are worth less if they want to send the money home