How will the Aud perform in the future?

It's extremely difficult to predict how any currency pair will perform in the future. Inflation, interest rate hikes and the threat of a recession all have the potential to impact currency values here and overseas, while economic developments in China can also have a significant effect on the AUD's performance.

What factors affect the value of the Aud?

Increases in demand for commodities can drive the value of the AUD up, but falling prices can have a negative effect. Farming. Agriculture is another important driver of the Australian economy and made up 11.6% of the nation's goods and services exports in 2021-22.

Why did the Aud fall in 2023?

At the start of 2023, 1 AUD bought 0.68 USD. The AUD recovered against the USD in June reaching $0.687 but since then it's hit a new low for the year at 0.634 USD. According to the Commonwealth Bank, "The main reason for the fall in AUD is the fall in commodity prices.

What are Australia's major banks predicting in 2023?

But Australia's other major banks are a little more optimistic. Westpac is predicting the Aussie dollar to be trading at 0.69 USD in December 2023, while NAB is forecasting a 1 AUD = 0.74 USD exchange rate by the end of the year.