Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Vanuatu Vatu Stronger Than The Aussie Dollar?

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 2 / Views: 157Next Topic  
Pillar of the Community
Australia
696 Posts
 Posted 09/20/2022  12:36 am Show Profile   Bookmark this topic Add MachinMachinMan to your friends list Get a Link to this Message
While noodling some Australian 10 cent coins I found this 100 Vatu coin from Vanuatu



The vatu has no subdivisions so 100 vatu is like our $1 coin (100 cents).

Thinking it was probably worth less than 10 cents, I was surprised when I checked the exchange rate to find that 100 vatu is currently worth AU$1.20.

Has the vatu always been stronger or has the arse recently fallen out of the Australian dollar?
Bedrock of the Community
Australia
20051 Posts
 Posted 09/20/2022  01:55 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I think the AUD is a long way from being in dire straits but
it has certainly had a tough time in the last few years.
That is due to the decline of strategic secondary industries in the Country - largely due to inept Government policy on both sides of the political divide.

We now have to buy almost everything that is manufactured, and that puts pressure on National current account balances, and thus downwards pressure on international AUD / currency exchange rates of almost every other country in the G20.

Not happy with Australia simply being a quarry. I feel confident that there is much more talent in the Australian workforce than just for quarrying.
At least, our farmers are doing their bit, often under very trying circumstances.
Moderator
Learn More...
Australia
14646 Posts
 Posted 09/20/2022  02:08 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
According to the xe.com ten-year exchange rate chart, the parity break is not "recent". Back 10 years ago, the 100 vatu was indeed about on par with the dollar. Went up to $1.10 in mid-2013, then $1.20 at the end of 2014, and has more or less stayed at $1.20 ever since, apart from a brief spike up to $1.40 at the height of the COVID lockdowns in Australia (Vanuatu didn't lock down, but simply closed the border before COVID could arrive, so their economy fared pretty good until the lack of tourists started to bite).
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
  Previous TopicReplies: 2 / Views: 157Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2022 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2022 Coin Community Forums
It took 0.17 seconds to rattle this change. Powered By: