Australian dollar

The Australian dollar is a rather exotic currency and is used in Australia and the Pacific region; in addition, this currency is widely used in payments for gold, minerals and some types of products.

This currency can be safely classified as the most popular world currency; it is in stable demand on all world exchanges.

In an abbreviated version, this means of payment is written as the abbreviation AUD; this designation is also used when displaying quotes in currency pairs.

The value of a currency is determined during trading on a foreign exchange exchange, which is why the Australian dollar is one of the freely convertible currencies of the world.

The Reserve Bank of Australia is responsible for issuing coins and paper money; it is also entrusted with all the functions of maintaining the stability of the monetary unit.

Banknotes are issued in denominations of 5,10,20,50,100. They are characterized by high quality manufacturing; to increase strength, the paper contains a number of polymer materials.

Exchange rate changes and forex trading

Although this currency instrument is inferior in popularity to the main world currencies, it still has a fairly large number of fans. It is great for the novice trader, especially if trading exclusively in the Australian forex session.

In this case, the Australian dollar is influenced only by news from Australia itself, because the entire business world is asleep at this time, with the only exception being the AUD/JPY pair, due to the fact that the time of business activity in both countries is almost the same.

The AUD/USD and EUR/AUD currency pairs deserve special attention from traders, as their prices begin to change along with changes in the cost of gold, the production of which Australia is one of the first in the world.

At the same time, the Australian dollar rate is growing, which causes an upward trend in the AUD/USD currency pair and a downward trend in the EUR/AUD pair. And if the rise in gold prices is associated with an economic crisis, then the existing trend strengthens.

In addition, it should be noted that the value of the analyzed currency is strongly influenced by weather factors that cause a reduction in crop yields. Australia is an agricultural country, and any forecasts that contain information about crop failure may affect the exchange rate of its national currency.

Trading using this currency is quite profitable, which is facilitated by the relatively low spread on the AUDJPY, AUDUSD, and EURAUD currency pairs.

See the current quote for this monetary unit here - http://time-forex.com/kotirovki