- Currency -

The relentless decline in the value of the Australian dollar over the past 30 years has ended according to the Reserve Bank. That decline had fuelled regular crises of economics and confidence. While exporters benefited, it made their equipment more expensive, and also made Australian assets ripe for acquisition by cashed up foreigners. Reasons for optimism include: ending of inflationary outbreaks; improved terms of trade (ie better prices for exports of wool coal and tourism relative to imports such as computers and telecommunication equipment); productivity improvements; and rising export volumes that have narrowed the current account deficit - slowing the growth of foreign debt (Marris S. 'Dollar's 30 year fall over says RBA', Australian, 28/11/01)