January year 2001, 1 AU$ was close to US$ 0.56, 1 AU$ was almost Rp.5300 and 1 US$ was about Rp.9500. Now in April 2008 1 AU$ was US$ 0.94, 1 AU$ was Rp.8700 and 1 US$ was Rp.9250. Deposit rate at that time in Australia was only about 4% per annum. Now AUD is getting stronger and its still possible to move forward. Furthermore, USD is getting weaker against other major currencies. AUD would get more powerful than USD because today interest rate in the US offers lower rate than in Australia. Certificate Deposit with minimum AU$ 50.000 (equal to Rp.435 million) in Australia for 1 year offers interest rate up to 7.90% (5/5) compared with US offers only 2.6% (5/5) per annum or compared with Indonesia offers 6.5% (5/5) per annum with approximately equal minimum fund. I think this will bring more fund enter to Australia. Even though higher credit interest rate for home loan also increase in Australia at least above 8.5% (5/5). This loan increased was to anticipate higher inflation in Australia. In mid June 2005 when 1 AU$ was equal to US$ 0.76 and 1 AU$ was Rp.7000, I was confused to convert from AU$ into US$ but finally I executed it. Imagine now actually I could safe US$ 0.18 for every 1 AU$ and foreign exchange disparity.

Stronger local currency indicated stronger financial performance in Australia recently. Mainly Australia depends on tourism, educations and financial services which predominantly contribute to its GDP. Higher metal commodities such as nickel, gold, iron, silver, zinc and agriculture products such as cattle, wheat, sugar, milk, fruits and etches have also boosted Australian economy recently because these commodities are mainly for export. As a result property’s price in Australia was amazing. Property prices in Australia have been rising dramatically and in some region even more than doubled just in a decade such as in Melbourne. This surging price was boosted by high property demand and tax incentives. Australia Immigration programs is also adding to demand for housing. Now is almost impossible to find a house below AU$300.000 in the inner city. Probably it would take some more time before it’s getting to rally again. But I believe investment in housing in Australia is promising. Many Asian and Western people are still looking at Australia as a very stable country in the world with less population compared to others. Moreover this country has rich of mining resources and variety of agriculture products ready for exports.