Aust. $ rises sharply
PA Sydney The Australian dollar has risen more than SUS2c since last Monday, to reach its highest level since April 13.
The Reserve Bank of Australia yesterday raised the dollar mid-rate to $U51.1546, up from $1.1336 on August 17, and a low of $1.1225 on August 4.
In the past week the trade weighted index has been lowered to 94.4 from 94.6, effectively cushioning the effect of the U.S. currency’s devaluation on upward movements in the Australian dollar.
Yesterday’s index level represented a year-on-year 10.5 per cent revaluation of the Australian currency, reflecting the authorities’ exchange rate adjustment policies.
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Press, 25 August 1981, Page 18
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102Aust. $ rises sharply Press, 25 August 1981, Page 18
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