AUD/USD Exchange Rate History
A decade of Australian Dollar–US Dollar movements, with the events that drove them.
AUD/USD 10-year snapshot
AUD/USD currently sits roughly 58% through its 10-year range — in the middle of the decade range.
The last decade in AUD/USD
AUD/USD is the world's premier "commodity currency" pair, correlated with iron ore, copper, and global growth cycles. Over 2016–2026, the pair traded between 0.55 and 0.81 — a 47% range driven by the China commodity cycle, RBA-Fed rate differentials, and global risk appetite. AUD has been one of the worst-performing G10 currencies against USD since the 2014 commodity peak.
Long-term trend
Secular weakening from the post-mining-boom peak of 1.10 (July 2011) to the 0.60-0.80 range of the late 2010s/2020s. AUD/USD has not seen 1.00+ since 2013. Structural factors: cooling Chinese demand for Australian iron ore, persistent Australian trade-deficit periods, and a Reserve Bank of Australia that has run more dovish than the Fed for most of the post-2014 era.
Key events
China commodity crash
Chinese industrial production weakness combined with a surprise CNY devaluation crashed iron ore prices and Australian export revenues. AUD/USD fell to multi-year lows.
AUD/USD fell from 0.78 (April 2015) to 0.69 (September 2015) — a 12% drop in six months.
COVID pandemic
Pandemic-driven USD safe-haven flows combined with collapse in commodity demand drove AUD to multi-decade lows. The recovery was equally violent — RBA emergency easing plus China stimulus rebooting iron ore demand.
AUD/USD fell from 0.67 to 0.55 in two weeks (March 2020), then rallied to 0.80 by February 2021.
China property crisis deepens
Evergrande default fallout, Country Garden financial stress, and Chinese property sales falling 30%+ year-over-year compressed iron ore demand. AUD/USD fell as China-sensitive currencies weakened.
AUD/USD fell from 0.72 to 0.62 between April and October 2022.
RBA holds while Fed tightens further
The RBA paused rate hikes at 4.35% while the Fed maintained 5.25-5.50%. The 100+ bp rate differential weighed on AUD throughout 2024.
AUD/USD held a tight 0.64-0.68 range for most of 2024.
China stimulus bazooka
PBOC announced coordinated 1 trillion yuan property-sector support package. Iron ore prices rallied 30% in two months. AUD outperformed as the most direct beneficiary of China growth surprises.
AUD/USD rallied from 0.65 to 0.74 between August and December 2025.
Practical takeaway
For Americans traveling to Australia or Australians sending money to the US, AUD/USD has settled into a 0.60-0.75 range that's roughly 30% weaker than the early-2010s mining boom era. Watch Chinese economic data (PMI, property sales, iron ore prices) as the primary AUD signal — RBA decisions matter less than China growth surprises. AUD typically rallies hardest during global risk-on episodes (equity bull markets, commodity rallies).
Convert AUD to USD now
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Frequently asked questions
When was AUD/USD at parity?
AUD/USD traded above 1.00 (parity with USD) from October 2010 to May 2013 — a 31-month run driven by the China-led commodity supercycle. The all-time high was 1.1080 in July 2011. Since 2013, AUD/USD has not retested 1.00.
Why is AUD called a "commodity currency"?
Australia is the world's largest iron ore exporter, a top-three coal exporter, and a major LNG supplier. AUD/USD is tightly correlated with iron ore and copper futures — when Chinese industrial data is strong and commodity prices rise, AUD rallies against USD.
Does Chinese data affect AUD more than US data?
Often yes. China buys roughly 30% of Australian exports. Chinese manufacturing PMIs, fixed-asset investment data, and property-sector news routinely move AUD more than equivalent US data. The exception is FOMC meetings, which dominate all G10 currencies including AUD.
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