Even more reasons to get Australia into your travel itinerary soon — the value of their currency slumped to levels below parity against the Singapore dollar this morning.
According to The Straits Times, the last time it happened was way back in 2002. Right now, 1 AUD purchases 0.9984 SGD, which is very terrific news for Singaporean travellers looking to holiday there.
The Aussie dollar has also fallen to its lowest levels in six years against the US dollar last Friday, as economists note that the economy down under remains cloudy — the commodities upsurge that pushed the country's growth till 2013 is now over.
Sluggish global demand for Australia's commodities exports and a series of upsetting economic data in recent months have also contributed to their weakening currency, and the worser performances may yet to come.
Photo: Corey Leopold via Flickr
Even more reasons to get Australia into your travel itinerary soon — the value of their currency slumped to levels below parity against the Singapore dollar this morning.
According to The Straits Times, the last time it happened was way back in 2002. Right now, 1 AUD purchases 0.9984 SGD, which is very terrific news for Singaporean travellers looking to holiday there.
The Aussie dollar has also fallen to its lowest levels in six years against the US dollar last Friday, as economists note that the economy down under remains cloudy — the commodities upsurge that pushed the country's growth till 2013 is now over.
Sluggish global demand for Australia's commodities exports and a series of upsetting economic data in recent months have also contributed to their weakening currency, and the worser performances may yet to come.
Photo: Corey Leopold via Flickr