Aussie dollar plunges into the 60's…again

The Australian dollar is getting smoked

a woman

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The Australian dollar has dropped into the 60's, currently trading at US 69.7 cents.

The currency has dropped 0.65% so far today, continuing its dismal fall over the past month. In early August the Aussie was trading around 74 US cents, but worries about China's growth and our close links to China are pummelling the Aussie down.

It's the lowest level since the depths of the Global Financial Crisis in 2009.

australian dollar versus US dollar
Source: Google Finance

Not that it's all bad news.

For our exporters, including iron ore and gold miners as well as oil and gas companies, it's a blessing in disguise.

In Australian dollars, iron ore priced at US$56.50 per tonne is above A$81 per tonne.

Gold at US$1,1125.56 an ounce is worth A$1,614.86 an ounce.

Brent Crude oil at US$50.78 a barrel is worth A$72.86 a barrel.

Motley Fool contributor Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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