Low Australian Dollar good for FIRB approved Properties Real-Estate
Posted
in Updates
@ Jun 8th 2013 8:49pm
- By Garry Larden
Low Australian Dollar good for FIRB approved Properties Real-Estate
As turbulence in global currency markets continues, the Australian Dollar is stabilising and giving foreign investors great options and variety in the Australian real estate sector.
The dollar fell to a fresh 20-month low against the US dollar and lost 5% in its sharpest weekly fall in two years against the Japanese yen and is now sitting at US94.99c
Since the Australian dollar started its slide in early May, it has lost 7.7% against the US dollar and 12.5 per cent against the yen, making it one of the most underperforming currencies in the world, strategists said.
On the Reserve Bank's trade-weighted index, the Australian dollar weakened to a new low of 72.2 but currency strategists said the recent volatility and downward slide could soon end as confidence returns to the Australian dollar.
We've still got an interest rate advantage over the rest of the G7 and major currencies, and China is still growing at a relatively good pace, plus the investment from China, Europe Russia and many other countries into Australian property has gone up a gear with the dollar where it is.
