Mongolia, Australia top 2010's strongest currencies
The Australian dollar was the world's best performing currency in 2010 - after Mongolia's.
The dollar, which was worth around 90 US cents this time last year, is now buying almost $US1.02 - a rise in value of around 13 per cent.
But CommSec says the Mongolian tugrik has posted the biggest rise, climbing around 15 per cent.
Like Australia, Mongolia is rich in resources and trades closely with China.
A strong recovery in commodity prices and relatively high interest rates in both nations have boosted their currencies.
The euro and the British pound have been among the year's worst performers, as the European Union still struggles to deal with its debt issues.
The dollar, which was worth around 90 US cents this time last year, is now buying almost $US1.02 - a rise in value of around 13 per cent.
But CommSec says the Mongolian tugrik has posted the biggest rise, climbing around 15 per cent.
Like Australia, Mongolia is rich in resources and trades closely with China.
A strong recovery in commodity prices and relatively high interest rates in both nations have boosted their currencies.
The euro and the British pound have been among the year's worst performers, as the European Union still struggles to deal with its debt issues.
Comments
Post a Comment