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Australia's place in the global economy - "Explain the reasons for our current exchange rate level. Evaluate its impact on the Australian Economy."
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Australia's place in the global economy Question- "Explain the reasons for our current exchange rate level. Evaluate its impact on the Australian Economy." Introduction- The Reserve Bank of Australia (RBA) calculates the Trade Weight Index (TWI) measuring the movements of the Australian dollar relative to a "basket" of currencies of Australia's major trading partners according to their importance in trade. Major currencies include: * Japanese Yen * US Dollar * European Euro * UK Pound The Australian dollar has weakened against the Yen, the Greenback, and the Pound however the Euro has remained steady. The demotion of the Australian dollar, has also affected the Australian economy pessimistically. The weakening of the dollar Exchange rates of the One Australian Dollar 2nd Quarter '00 1/4/00-30/6/00 3rd Quarter '00 1/7/00-31/9/00 4th Quarter '00 1/10/00-31/12/00 1st Quarter '01 1/1/01-31/3/01 TWI 52.5 - 53.3 52.7 - 49.9 48.2 - 51.6 51.1-47.4 Currency Yen 62.91 - 63.19 63.65 - 58.59 56.11-63.57 63.71 - 60.96 $US 0.5909 -0.5986 0.5822-0.5433 0.5148-0.554 0.5466-0.489 Euro 0.6483 -0.6282 0.6306-0.6161 0.6123-0.5963 0.5898-0.5559 Pound 0.3758- 0.3941 0.3869-0.3712 0.3550-0.3715 0.3715-0.3425 Source: RBA Bulletin Statistical March 2001 According to the table, there is a...
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