OANDA is electronically connected to numerous global banks to access the best currency rates for its forex traders, and electronic algorithms on OANDA’s fxTrade servers update exchange rates tick-by-tick, in periods of less than a second. The currency rates shown on this page are updated less frequently, but are still a close reflection of the rates available to forex traders right now.
The Australian dollar (also called the Aussie) is a “commodity currency” because the country exports abundant natural resources, including coal, iron ore, copper, gold, natural gas, uranium, and renewable energy.
Australia has strong trade ties with China, and the growing Chinese economy has driven its economy.
Australia is trying to diversify its export markets beyond China to other Pacific nations.