Australian Dollar plungers!

(Australian Dollar to Singapore Dollar Exchange Rate Graph)

"The Aussie dollar stabilised somewhat during Asia yesterday, holding on to 66 cents and rallying throughout Asia and in European trade to post an overnight high of 0.7130. Yesterday’s announcement of a rise in Australian unemployment from 4.1% to 4.3% caused little reaction on the AUD as the market continued to be driven by movements in equity markets. Investors pinned their hopes of a recovery in the local unit on a possible rebound on Wall Street but were disappointed in a big way with the Dow Jones Industrial Average falling over 7%. As a result AUD/USD fell sharply in late NY trade to open this morning near its lows at 0.6820 with the volatility expected to remain heading into the weekend."

Well all you peeps need to know is that the Aussie dollar has dropped significantly and was actually lower than the SGD at one stage... but has increased a little since.

The rate right now is 1.00 AUD = 0.981994 SGD. Time to buy some Aussie dollars or be kiasu and wait till it gets even lower? I'd rather buy now.