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Australian dollar currency characteristics and factors affecting the Australian dollar

(1) cashbackforex forex cashback easy currency characteristics Australias new version of plastic banknotes, after nearly 30 years of development before be cashback forexg put into use, it is a polyester material instead of paper, wear-resistant, not easy to break, not afraid to rub wash, use a long cycle cashbackforexpip feel strong, with good anti-counterfeiting characteristics 100%cashbackforex main features of Australian banknotes can be briefly summarized as follows: Currency name: Australian dollar (AUSTRALIANDOLLAR) Currency symbol:: AUD Coin entry: 1 Australian dollar = 100 cents (CENTS) Banknote denomination: 5, 10, 20, 50, 100 yuan Issuing institution: forexcashbackeasy Bank of Australia (RESERVEBANKOFAUSTRALIA) (2) Factors affecting the Australian dollar Australian dollar, referred to as the Australian dollar (English abbreviation) Aussie): The Australian dollar is also known as a commodity currency, and its exchange rate is closely linked to the prices of commodities such as gold, copper, nickel, coal and wool, which account for nearly 2/3 of Australias total exports. For example, when the price of gold rose in 2002 the Australian dollar exchange rate also rose, and when the price of the metal retreated in the summer of 2002 the Australian dollar also retreated, and both rose again at the same time in the fourth quarter of 2004 On the other hand, Australias close ties with the Japanese economy (Japan absorbs 20% of Australias exports) and the eurozone economy may explain why the Australian dollar follows the movements of the euro and the Japanese yen for example. The inverse correlation between the exchange rate of the Australian dollar against the US dollar and the exchange rate of the US dollar against the Japanese yen in the foreign exchange market is easy to identify The exchange rate of the Australian dollar against the US dollar is expressed in the same form as the euro against the US dollar and the British pound against the US dollar, indicating how many US dollars correspond to one Australian dollar The Reserve Bank of Australia: Under the Reserve Bank Act 1959, the Reserve Bank of Australia was given the status of the central bank of Australia The main task of the Reserve Bank In 1993, the Reserve Bank of Australia was given the power to operate independently, and the Reserve Banks objectives were set at 2-3% per annum for medium-term inflation. The reason for setting medium-term rather than short-term inflation targets was to encourage healthy and sustainable economic growth.