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Happy Birthday AUD: How Our Australian Dollar Was Floated, 40 Years Ago This Week menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
Up until December 9 1983, officials used to announce each morning how much the dollar was worth. Even bankers were shocked about letting the market set the price – but it’s served Australia well.
The double standard goes back to 1929, when Labor had the misfortune to be elected 12 days before the Wall Street crash that set off the Great Depression.