The exchange rate of Australian dollar against RMB is 1 4.7. In the foreign exchange market, the Australian dollar is currently the fifth largest currency in the world, accounting for 6% of the total trading volume, second only to the US dollar, the euro, the Japanese yen and the British pound. In 20 10, the Australian dollar officially replaced the Swiss franc as the fifth largest currency in circulation in the world.

The significance of foreign exchange existence

With the development of foreign exchange business of banks, various credit instruments (such as bills of exchange) representing foreign exchange are widely used in the world, which makes it possible to transfer the purchasing power of money between different countries. Promote the development of international trade and capital flow. Foreign exchange is the product of international economic exchanges. Without foreign exchange, the international turnover and utilization of funds cannot be accelerated, and international economic, trade and financial exchanges will be hindered.

Paying off international creditor's rights and debts with foreign exchange can not only save the cost of transporting cash and avoid transportation risks, but also avoid capital backlog and accelerate capital turnover, thus promoting the development of international commodity exchange and capital flow. Promote the adjustment of international capital supply and demand.