15 Oct 2010

Australian dollar reaches highest level since 1983

11:12 am on 15 October 2010

The Australian dollar on Thursday night reached its highest level since floating in 1983, buying 99.93 US cents.

The ABC reports strength in the currency helps control inflation and the exchange rate could ease pressure on the Reserve Bank of Australia to lift interest rates.

At 7.30am (AEDT) on Friday, the Australian dollar was buying 99.37 US cents.

On the cross-rates, it was worth 80.68 Japanese yen, 61.94 pence, 70.47 euro cents and $NZ1.31.