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The Conversation
The Conversation
John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

The Australian dollar has hit a 5 year low. Sounds bad but don’t panic

Australian Dollar United States Australia US Dollar Reserve Bank Inflation
Motortion Films/Shutterstock

You may have seen stories the Australian dollar has “plummeted”. Sounds bad. But what does it mean and should you be worried?

The most-commonly quoted exchange rate in the Australian media has long been the Australian dollar/US dollar rate. On Tuesday midday it was at 0.62, meaning one Australian dollar can be exchanged for 62 US cents.

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