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Foreign Exchange Market Australia

Foreign exchange market Australia functions as one of the principal sources of revenue for the government of Australia. The foreign exchange transactions in Australia support the economic growth of Australia to a significant extent. The official currency for the Commonwealth of Australia is the Australian dollar (AU$).
According to the ISO 4217 code, the Australian dollar is represented as the AUD. The Australian dollar was introduced in the country as the official currency in the year 1966. Currently, the Australian dollar ranks as the fifth most highly traded foreign currency in the worldwide foreign exchange market after the United States dollar, Euro, Yen and the Great Britain Pound Sterling ($).

The Australian foreign exchange market constitutes a considerable portion of all the foreign exchange transactions happening around the world. The reason behind the high volume of trading of Australian dollar is its global recognition and high liquidity.

The Reserve Bank of Australia (RBA) regulates the exchange rates of the Australian dollar. The foreign exchange rates in Australia are dependent on the exchange rate of AUD with the other foreign currencies of the world.
The forex market of Australia follows a floating exchange rate system.

The various foreign exchange market transactions that are present in Australia include the following:
  • Limit Order Deals
  • Forward Transactions
  • Options Trading
  • Day Trading

Following are the exchange rates of a number of currencies with the Australian dollar:

Australian Dollar 1 AUD in AUD
American Dollar 0.836302 1.19574
Brazilian Real 1.58939 0.629171
British Pound 0.418716 2.38825
Canadian Dollar 0.855872 1.1684
Chinese Yuan 6.29067 0.158966
Danish Krone 4.49128 0.222654
Euro 0.603001 1.65837
Hong Kong Dollar 6.51379 0.15352
Indian Rupee 33.8284 0.0295609
Japanese Yen 96.802 0.0103304
Malaysian Ringgit 2.91284 0.343307
Mexican Peso 9.27668 0.107797
New Zealand Dollar 1.17806 0.848855
Norwegian Kroner 4.719 0.211909
Singapore Dollar 1.26825 0.788487
South African Rand 6.00674 0.16648
South Korean Won 777.594 0.00128602
Sri Lanka Rupee 94.9036 0.010537
Swedish Krona 5.59352 0.178778
Swiss Franc 0.994447 1.00558
Taiwan Dollar 27.6816 0.0361251
Thai Baht 26.6613 0.0375075
Venezuelan Bolivar 1793.53 0.000557559


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