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Dollar closes at one-year low
5-September-08
Written by AAP

The Australian dollar closed at its weakest level in more than a year today as a sharp dive on US share markets shaved almost two US cents from the local unit.

The domestic currency has now lost 17 per cent against the US dollar in less than two months after reaching a 25-year, pre-float high of $US0.9849 on July 16. .

At 1700 AEST, the Australian dollar was trading at $US0.8175/79, down sharply from yesterday's close of $US0.8353/57.

This was the Australian dollar's weakest close since August 30 last year when the currency finished the session at $US0.8155/58 during the early stages of the global credit crunch.

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Harry Kleyn - Publisher


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