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Dollar slumps to 2-year low
6-October-08
Written by AAP
Overseas holidays are tipped to get dearer by Christmas with the Australian dollar now trading below 76 US cents for the first time in two years.
The domestic currency shed one US cent this morning as financial markets contemplated a bigger than usual interest rate cut tomorrow from the Reserve Bank of Australia (RBA).
The Australian dollar has shed 23 per cent since reaching a 25-year high of 98.49 US cents in mid-July, and has lost 8.4 per cent of its value in the past week alone.
Article continues...
6-October-08
Written by AAP
Overseas holidays are tipped to get dearer by Christmas with the Australian dollar now trading below 76 US cents for the first time in two years.
The domestic currency shed one US cent this morning as financial markets contemplated a bigger than usual interest rate cut tomorrow from the Reserve Bank of Australia (RBA).
The Australian dollar has shed 23 per cent since reaching a 25-year high of 98.49 US cents in mid-July, and has lost 8.4 per cent of its value in the past week alone.
Article continues...
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