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1979 Australia Ten Dollars - TRU
Has some light soiling on the front upper left.
Some light creases along the top edge and a small blue pen mark on the reverse on the lower right.
Overall good condition.
Economists posit that commodity prices are the dominant driver of the Australian dollar, and this means changes in exchange rates of the Australian dollar occur in ways opposite to many other currencies. For decades, Australia's balance of trade has depended primarily upon commodity exports such as minerals and agricultural products. This means the relative value of the dollar varies significantly during the business cycle, rallying during global booms as Australia exports raw materials, and falling when mineral prices slump or when domestic spending overshadows the export earnings outlook. This movement is in the opposite direction to reserve currencies, which tend to be stronger during market slumps as traders move value from falling stocks into cash.
The Australian dollar is a reserve currency, and it is one of the most traded currencies in the world. Other factors include a relative lack of central bank intervention, and general stability of the Australian economy and government. In January 2011 at the World Economic Forum in Davos, Switzerland, Alexei Ulyukayev announced that the Central Bank of Russia would begin keeping Australian dollar reserves.
*All details taken from Wikipedia for educational purposes only.
Obverse:Francis Howard Greenway (20 November 1777 – September 1837) was an iconic colonial architect in Australia.
Reverse: Henry Lawson (17 June 1867 – 2 September 1922) was an Australian writer and poet . Along with his contemporary Banjo Paterson, Lawson is among the best-known Australian poets and fiction writers of the colonial period, and is often called Australia's "greatest writer".
Watermark: Captain Cook in left panel