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DAILY STATISTICAL RELEASE
Exchange Rates |
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| Release date: 12 May 2008 |
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Units of foreign currency per A$ |
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The rate shown for the US dollar is a representative mid-point determined by the Reserve Bank on the basis of quotations in the interbank foreign exchange market at 4 pm Eastern Australian time on the day concerned. Rates shown for most other currencies are calculated by crossing the rate for the US dollar with mid-points of buying and selling rates quoted at the same time. These rates are indications of market value only and may differ from those quoted by foreign exchange dealers.
The trade-weighted index is calculated on the basis of representative rates for the US dollar and other currencies. Details of the method of calculation of the trade-weighted index are set out in the Bulletin for October 2002 and current weights are on the Bank's website.
The value of the Special Drawing Right is calculated by the International Monetary Fund on the basis of a weighted basket of four currencies - US dollar, European euro, Japanese yen and UK pound. The Fund publishes the value of the SDR each day in terms of US dollars; the latest available rate is crossed with the 4 pm A$/US$ rate.
