The Australian dollar is surging at the moment, which means your dollar will go further if you’re travelling overseas.
The surge is largely due to high commodity prices, a softer US dollar and better-than-expected inflation data here at home.
But what does a surging dollar mean for Australians heading overseas? We asked Finance Researcher Angel Zhong on The Briefing:
Senior lecturer Angel Zhong from RMIT’s School of Finance said the Australian dollar will continue to perform over the next six to twelve months.
“High interest rate is not good news for Australians, but at least it is good news for those who love travelling overseas,” Zhong said.
The Olympics marks a good time for Australians to travel to France and surrounding countries, Zhong said.
“If you want to travel to France for the Olympic Games, that is a good timing because AUD to euro is at the highest point in the recent two years.”
“Similarly we are performing really well against the Japanese currency as well,” Zhong said, “AUD is doing relatively well to the Indonesian currency as well.”
Subscribe to The Briefing, Australia’s fastest-growing news podcast on LiSTNR today. The Briefing serves up the latest news and deep dives on topics affecting you, all in under 20 minutes.