Australian dollar down on RBA rates decision
THE Australian dollar has dropped after the Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.75 per cent.
THE Australian dollar has dropped after the Reserve Bank of Australia (RBA) left the cash rate unchanged at 4.75 per cent at its August board meeting.
At 2.39pm (AEST), the currency was at 109.35 US cents, compared with 109.79 US cents just before the RBA announced its decision at 2.30pm.
The Australian dollar closed at 110.55 US cents yesterday.
It hit a peak of 110.81 US cents on July 27, its highest level since the fixed exchange rate era ended with its float in December 1983.
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