The Aussie dollar fell to a four year low of US 86.43¢ last Friday, dropping by nearly US 8¢ for the month of September, as the US dollar is expected to rise due to stronger job data.
The Reserve Bank is pushing for further drops in the local currency, saying that the lower dollar will help the country as it transitions from mining into a non mining dependent economy. Current interest rates are pegged at 2.5% to support the weaker sectors in the economy. Predictions of the AU dollar have been as low as 84¢ to the end of the year.
Read more about this on the Sydney Morning Herald website.
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