The Australian dollar posted a new high for 2009 after Central Bank Governor Glenn Stevens reported that the economic downturn in Australia, “may turn out not to be one of the more serious ones of the post-War era, in contrast to the experiences of so many other countries”.
Stevens left the benchmark lending rate at 3 percent amid signs that the low borrowing cost has stopped the nation's economy from diving into a deep recession. This information, coupled with the Central Bank Governor's comments that the nation's economy may recover faster than forecasted caused the Australian dollar to rise to a new year high.
Exchange rates for the Australian dollar are currently at EUR1.7142 and GBP1.9839
The rates quoted above are interbank rates. Client rates may vary according to the volume and timing of the trade.
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