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Article: RESERVE BANK INTERVENES TO HELP AUSTRALIAN DOLLAR AGAIN.
- Article from:
- AsiaPulse News
- Article date:
- November 21, 2008
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SYDNEY, Nov 21 Asia Pulse - The Reserve Bank of Australia (RBA) says it intervened in the foreign exchange market to support the Australian dollar on Friday morning, as the local currency fell under 61 US cents for the first time in four weeks.
"Yes, we provided liquidity as on previous occassions," an RBA spokesman said.
"We don't disclose when, nor do we disclose the level."
The Australian dollar sunk to a four-week low of 60.80 US cents at 0740 AEDT, after opening at 61.31 US cents only 40 minutes earlier.
The currency's low point occurred as Wall Street's Dow Jones Industrial Average was on the way to finishing the New York ...