Australia's AUD Hits 3-Year High; Government Allocates $1.2 Billion for Strategic Minerals Reserve
The Australian dollar (AUD) surpassed 71.75 cents USD following the RBA's interest rate hike to 3.85%. Additionally, the Australian government announced a $1.2 billion fund to secure essential mineral supplies.
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In the week from February 9 to 13, 2026, the Australian dollar (AUD) reached its highest level in three years, exceeding 71.75 cents USD. This increase is attributed to the Reserve Bank of Australia's (RBA) decision to raise interest rates from 3.60% to 3.85% on February 5.
The government also announced a $1.2 billion investment to establish a Critical Minerals Strategic Reserve, focusing on essential materials such as antimony, gallium, and rare earth elements. The Australian stock market experienced volatility, with technology stocks dropping 5% due to concerns over AI impacts on traditional business models.
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