Once again, the Australian dollar dipped below S$1.00 this morning, the second time since 2009.
As of writing, a local dollar will get you 1.00192 AUD according to XE Currency Converter. Bloomberg data showed that the Australian dollar was trading at around 99.9 Singapore cents at 10.25am, compared to S$1.0047 yesterday.
The fall affects both the Australian and New Zealand dollars, both of which have slid to multi-month lows today following fierce selloff in commodities and equities, Reuters reports.
Prices of Australia’s top export earner — iron ore — are also down 8 perecent so far this year.
