it's rising because divestment isn't happening as fast

couldn't tell you exactly wasup with australia

mainly coz i dont give a shit about australia

but in general currency drops when people withdraw their investments and demand for a country's goods fall. this is happening across the world because of the financial crisis as people are trying to withdraw their investments abroad and put them somewhere safe... like us government bonds (another reason the dollar is not tanking, is because it's widely viewed as a safe "reserve currency").

if you check out yahoo finance, nearly every western currency is tanking at the same rate. so what's happening in aus is nothing special, MATE. exceptions include the chinese yuan ... but the yuan is... special.

ya and the british pound is going up. not sure why?

Railz

United States1449 Posts

October 08 2008 18:27 GMT

#26

USD is rising because we're the first country investors run too when their economies start tanking, especially now it shows because our government is going through a nationalizing phase which equals more money for investors. Besides that, we're exporting quite strongly for once, we export a lot of needed items such as steel and agriculture items, and for the past 2 months haven't been importing as much.

Our financial markets may be plummeting but our economy is grounded for now and appears safe. I was watching the financial news on cnn and they mentioned how german plants were closing from no demand; Americans are a huge market, and we aren't going to be demanding much of anything in the near future. We don't have many unnecessary production factories in the USA so, that type of workforce won't be killed.

Mastermind

Canada7096 Posts

October 08 2008 20:27 GMT

#27

On October 08 2008 23:23 Xeofreestyler wrote:
every currency seems to be dropping
which one is rising?

If they are dropping, then they are dropping with respect to a specific currency. Find out what the currency is and you will know which one is rising( hint: its the american dollar).

capek

United States585 Posts

October 08 2008 21:26 GMT

#28

On October 09 2008 03:27 Railz wrote:
USD is rising because we're the first country investors run too when their economies start tanking, especially now it shows because our government is going through a nationalizing phase which equals more money for investors. Besides that, we're exporting quite strongly for once, we export a lot of needed items such as steel and agriculture items, and for the past 2 months haven't been importing as much.

Our financial markets may be plummeting but our economy is grounded for now and appears safe. I was watching the financial news on cnn and they mentioned how german plants were closing from no demand; Americans are a huge market, and we aren't going to be demanding much of anything in the near future. We don't have many unnecessary production factories in the USA so, that type of workforce won't be killed.

I read an article that said Daimler (the dudes that own Mercedes-Benz) might be bought out by an American company...
I love America. It will avenge the Daimler-Chrysler debacle.

kpcrew

Korea (South)1071 Posts

October 08 2008 21:32 GMT

#29

when the american dollar goes down, it becomes cheaper for foreign investors to buy safe treasury bonds. to buy these bonds, they buy our money with theirs and if enough people do it, the demand for the dollar goes up, the supply goes down and money is worth more

or at least thats how i think economics went

kpcrew

Korea (South)1071 Posts

October 08 2008 21:34 GMT

#30

last year, korean dollar was like 900 won to a dollar

now its like 1400 won to a dollar

canadian dollar was 1:1

now its 1: 1.13 canadian dollars

pound was 1 us dollar to .5 pounds

now its 1:0.579

euro was like 1 dollar : 0.67
nmow its 1:0.733

ahrara_

Afghanistan1715 Posts

October 09 2008 01:47 GMT

#31

On October 09 2008 03:27 Railz wrote:
USD is rising because we're the first country investors run too when their economies start tanking, especially now it shows because our government is going through a nationalizing phase which equals more money for investors. Besides that, we're exporting quite strongly for once, we export a lot of needed items such as steel and agriculture items, and for the past 2 months haven't been importing as much.

Our financial markets may be plummeting but our economy is grounded for now and appears safe. I was watching the financial news on cnn and they mentioned how german plants were closing from no demand; Americans are a huge market, and we aren't going to be demanding much of anything in the near future. We don't have many unnecessary production factories in the USA so, that type of workforce won't be killed.

1.) Nationalization is not more money for investors. That's like... the opposite of nationalization.

2.) Are you John McCain's economic advisor? a.) the fed made a 25 billion dollar loan to the big 3 auto manufacturers to help them retool their factories to produce fewer SUVs and more high MPG vehicles. b.) the housing market continues to plummet c.) the spread b/t interbank loans and the treasury bill yield is something like 6%?!, the commercial paper market has tanked, meaning companies and consumer access to credit is severely limited d.) we lost 159,000 jobs last month.

Grobyc

Canada18410 Posts

October 09 2008 02:08 GMT

#32

wow that fucking sucks so bad >_<
thank god i live in canada =D

SiegeTanksandBlueGoo

China685 Posts

October 09 2008 02:32 GMT

#33

I think it's the general slowdown of the global economy based on the US financial collapse. Other coutnries that relie on US consumers (The developing countries and the BRIC nations) have to deal with less consumerism, so they have reduced production. Raw materials countries like Canada, Australia and Russia tend to have currencies in free fall basically.

Or it could be as the OP suggests, Aussies like to take it up the ass. Either way works.

itzme_petey

United States1400 Posts

October 09 2008 03:00 GMT

#34

On October 09 2008 10:47 ahrara_ wrote:

Show nested quote +

1.) Nationalization is not more money for investors. That's like... the opposite of nationalization.
he probably meant more secruity when the government gets involved
2.) Are you John McCain's economic advisor? a.) the fed made a 25 billion dollar loan to the big 3 auto manufacturers to help them retool their factories to produce fewer SUVs and more high MPG vehicles. b.) the housing market continues to plummet c.) the spread b/t interbank loans and the treasury bill yield is something like 6%?!, the commercial paper market has tanked, meaning companies and consumer access to credit is severely limited d.) we lost 159,000 jobs last month.

Roxen000

1226 Posts

October 09 2008 06:56 GMT

#35

Yeah man, I remember a couple months ago I was buying a lot of shit online from the US because it was so damn cheaper (when the AUD was like 98 US cents) but now... its ridiculous. =/ Dunno man..