Little Aussie Battler

The Aussie dollar is seen to be punching above its weight these days with the announcement of Westpac & the ANZ being granted the rights to trade the Australian dollar & Chinese Yuan on the Chinese mainland, this announcement has pushed the Aussie back up over the US$1.05 mark, not a good outcome for our exporters but a bonus for importers. 

This will be a great advantage for Aussie importers as future shipment may not have the added expense of currency conversion into US$ in international trade deals, but I suggest this will all depend on your suppliers attitude towards dealing in Aussie$  when their currency is fixed against the US$ & the US currency is entrenched  as the preferred payment method.

Australia is only the third country behind the US & Japan to achieve such an arrangement & with talks re a free trade agreement between the two countries continuing into too its eighth year, this currency development is seen as a stepping stone for future economic engagement.  There is also a rumour on the Grapevine that the Japan / Australia Free Trade Agreement is a done deal but please do not quote me on that as this is just speculation, we will confirm further details when known.