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    Currency in the Cocos Keeling Islands – Australian dollar AUD

    A practical foreign exchange and currency guide on sending money and travel to the Cocos Keeling Islands

    What's in this Cocos Keeling Islands currency guide?

    1. Australian dollar (AUD) Market Info
    2. AUD Latest Rate
    3. AUD Charts
    4. AUD Outlook

     

     

    Sending Money to the Cocos Keeling Islands

    The below comparison table makes it easy to find the best exchange rates and lowest fees when you want to make a Transfer or Spend Australian dollar.

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    Australian dollar – Markets & Rates

    The Australian dollar is the fifth most traded currency in the world and is popular with currency traders, because of the high interest rates in Australia, the freedom of the foreign exchange market from government intervention, the stability of Australia’s economy and political system, and the view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.

    The currency is commonly referred to by foreign-exchange traders as the “Aussie dollar”.

    Australians are more focussed on their currency exchange rate than are the citizens of most other countries, along with perhaps the British and Canadians. This is may be due to the open and trading nature of the Australian economy and also due to their love of ‘overseas’ travel.

    Aussie Ups and Downs 2011-20

    The Aussie is very volatile for a major currency, for example between 2008 and 2011, AUD rose 80 per cent against the US dollar, ultimately going up through parity at one point.

    Then during 2011-12 AUD started to track the Chinese economy much more than it tracked any of the traditional domestic economic and monetary indicators.

    From 2013 to 2015 it dropped against the US dollar, especially when the Chinese stock market sold off in 2015, followed by a decent cyclical 17 per cent rally in 2016-17.

    Then from early 2018 it again began its steady way down before being king-hit by the Covid pandemic flight to safety in March of 2020 which took AUD/USD all the way back to its 2008 lows to $60 cents.

     

    1 AUD = 0.6998 USD
    Sell AUD  →  Buy USD
    AUD to USD at 0.6999 has fallen 4.4% below its 90-day average, range 0.6999-0.7543.
    |
      1 USD = 1.4289 AUD
     
    4-DAY-2.0%
    90-DAYLOW

    Australian dollar Forecast and Trend

    The Aussie dollar hit a recent high near 0.755 USD in late October but has since dropped back to 0.74 into November. The catalyst was a successfully dovish Reserve Bank of Australia. The RBA reiterated that it doesn’t see rate hikes until 2024, as wages are expected to increase only moderately.

    At the same time, Australia’s narrowing trade surplus and the worst retail sales quarter on record added more fuel to a weak Australian dollar, the worst G10 performer last week.

    AUD-USD Outlook

    Historic AUD-USD Rates

    AUD/USD wasChangePeriod
    0.7232
    19 Nov 2021
    3.2% 2 Weeks
    0.7456
    04 Sep 2021
    6.1% 90 Days
    0.7436
    03 Dec 2020
    5.9% 1 Year
    0.7432
    04 Dec 2016
    5.8% 5 Years
    1.0235
    06 Dec 2011
    31.6% 10 Years
    0.5156
    08 Dec 2001
    35.7% 20 Years
    AUD/USD change over periods to 03-Dec-2021

     

    AUD is also used in 7 other countries

     

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