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Exchange Rate

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marbs:
Early this year the AUD was getting over 95 cents for the US dollar, but today it stands at 82.5.


Just for clarification;

Was it high, because of the booming economic conditions in Australia with the high demand form China and India, bringing more investors, demanding our currency and resulting in a higher rate.
 
Which added to the fact that the US economy was slowing down, and suffering low confidence.

Plus the high interest rates resulting in more confidence for investors

Why did it decrease to 82 cents?

All I can think of is maybe that demand for our commodities slowed down, and the US economy improved (but it didn't), and there was only a slight decrease in the cash rate.

costargh:
I'd like an explanation too because I'd be crapping out of my ass if there was a question about the trend in exchange rates and I needed to comment on the fall.

From google
http://www.dailyfx.com/story/special_report/special_reports/Why_is_the_Australian_Dollar1217944652882.html
http://www.forextradinghq.com/major-currencies/australian-dollar-weakens-on-falling-stocks.html

AppleXY:
- The RBA has injected mass amounts of cash into the economy (in particular, in banking) which decreases the the AUD index.

And interest rates did go down, thus, investors are shorting the currency due to the high probability of another interest rate cut very soon.

costargh:
Sorry this might sound like a stupid question but what is the correct way to express the Australian dollar? Like exact way...

Just like 78 U.S cents?

ReVeL:
I believe so, 1 Australian dollar buys .78 US dollars, or 78 US cents.

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