Featured Image for Pack your bags! The Aussie dollar is going absolutely ballistic right now

Pack your bags! The Aussie dollar is going absolutely ballistic right now

Ah July, also known as that month where all your friends are overseas having fun and you’re not.

While young Australians might have NFI who a NASDAQ is or how much one stock costs, we have a deep knowledge of the foreign exchange market – solely for the purpose of buggering off when the temperature gets slightly chilly.

Well folks, the good news is that the Australian dollar is rallying back like the little battler it is – reaching a two-year high earlier this morning.

The AUD hit 80.014 US cents – the first time we’ve been over 80 cents since May 2015, and almost 10 per cent higher than this time last year.

This is massive news for travellers and online shoppers after the dollar plummeted to 72 cents at the end of 2016

For those of you heading over to Europe to hang out with other Australians on yachts in Croatia, there’s good news for you as well.

The AUD is up to 68.18 Euro cents after getting as low as 65 cents just over a month ago.

It’s not just Europe and America where you can cash in though.

Compared to this time last year, the Aussie dollar’s up 9.9 per cent in Hong Kong if you want to eat yourself into a food coma, or 8 per cent in Indonesia, just in case it wasn’t already cheap enough for you.

It’s been a tough slog for the Aussie dollar the past couple of years, but we’re on the way up again – get excited.

About the author

Riordan is Techly’s News and Social Editor. He promises to tweet more at @riordanl

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