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Happy birthday AUD: how our Australian dollar was floated, 40 years ago this week

Written by Selwyn Cornish, Honorary Associate Professor, Research School of Economics, Australian National University

These days, we take for granted that the value of the Australian dollar fluctuates against other currencies, changing thousands of times a day and at times jumping or falling quite a lot in the space of a week.

But for most of Australia’s history, the value of the Australian dollar – and the earlier Australian pound – was “pe...

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