Forex

Australian dollar falls after RBA governor's remarks

2021-12-09 16:56:27 GMT (Economies.com)

The Australian dollar fell against most major currencies on Thursday, following the Australia's Reserve Bank governor Philip Lowe's statements.

 

Lowe stated today that the Australian Reserve Bank is considering launching an electronic version of Australian dollar cash, but warned of the risks surrounding this step and what it could do to the financial system.

 

Lowe believes that the electronic version may be easier in terms of withdrawing money from commercial banks or depositing it as a safe haven with the central bank.

 

He added that monetary policy makers are studying how to reduce the risks of launching a digital Australian dollar, as the refusal to such a step would result in lagging behind the development of digital tools.

 

As of 16:55 GMT, AUD/USD fell 0.4% to 0.7145, after hitting a high of 0.7188 and a low of 0.7135.

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