News Brief: The Day Australia Set Its Dollar Free
Summary
This article recounts the historic floating of the Australian dollar on December 12, 1983, a pivotal economic reform. It describes the financial pressures leading to the decision, the personal experience of a reporter covering the event, and the long-term impact of creating a free-floating currency.
Key Points
- Historic Date: The Australian dollar was officially floated on Monday, December 12, 1983.
- Reason for Change: The previous fixed-exchange system was unsustainable. The Reserve Bank struggled to maintain stability against intense speculation, forcing a 10% devaluation in March 1983.
- Immediate Context: The decision was announced by Treasurer Paul Keating under the new Labor government of Prime Minister Bob Hawke.
- Personal Anecdote: The author, a finance reporter, covered the story amidst his own wedding and honeymoon in the Pacific, facing temporary cash shortages abroad.
- Long-term Role: The floating dollar acts as the economy’s “shock absorber,” adjusting to global pressures. It has seen wide fluctuations, from below US$0.48 in 2001 to over US$1.10 in 2011.
- Lasting Significance: This reform marked the start of Australia’s economic modernization, embracing deregulation and global integration, which helped shape the nation’s future growth.
新闻简报：澳大利亚让汇率自由浮动的那一天
总结
本文回顾了1983年12月12日澳大利亚元汇率实现自由浮动这一历史性的经济改革。文章描述了导致这一决定的金融压力、一位报道该事件的记者的个人经历，以及创建自由浮动货币的长期影响。
关键要点
- 历史日期：澳大利亚元于1983年12月12日（星期一）正式实行自由浮动。
- 改革原因：之前的固定汇率制度难以为继。面对强烈的投机行为，澳大利亚储备银行难以维持汇率稳定，被迫于1983年3月将货币贬值10%。
- 决策背景：这一决定由财政部长保罗·基廷在鲍勃·霍克总理的新工党政府领导下宣布。
- 个人轶事：作者作为一名财经记者，在报道此事时正逢自己的婚礼和太平洋岛屿蜜月，在海外经历了短暂的现金短缺。
- 长期作用：浮动汇率成为经济的“减震器”，根据全球压力进行调整。其汇率波动剧烈，曾在2001年跌至0.48美元以下，又在2011年飙升至1.10美元以上。
- 深远意义：这项改革标志着澳大利亚经济现代化的开始，拥抱放松管制和全球一体化，为该国未来的发展奠定了基础。
Original Article Link: https://www.abc.net.au/news/2025-12-12/today-in-history-december-12-floating-the-dollar/106131892