IS THAT LIKELY?
Australia has a floating exchange rate, which means it can fluctuate a lot depending on what's happening in global markets. It has been particularly volatile this year, with concerns about the potential for a global economic recession and aggressive raising of interest rates by central banks trying to stop inflation.
At levels around 65 US cents at the time of writing, our dollar had fallen by around 15% in the previous 12 months and almost 13% since January.
It hadn't yet pushed below 60 US cents, but many commentators were predicting this is a real possibility.
WHAT A LOWER DOLLAR MEANS
Currency is
