Those not yet convinced about the problems of an overvalued Australian dollar should consider the following:
Currently, around US$1.05 is needed to buy AUD$1.00. For decades US70 to 80 cents could purchase AUD$1.00. On that basis, we are effectively giving imports from overseas a 20 to 30 per cent subsidy over our domestic industries — manufacturing and farming. We also put our exports industries at an undeserved disadvantage.
The International Monetary Fund ranks our currency as…
