In Emerging Markets Australia is seeing increased business in RMB and INR
Adam Gazzoli, R5’s business development manager, describes the AUD/RMB cross as the “next big thing” in the Australian FX market, despite data from Peter Lee Associates’ annual FX survey showing that AUD/USD accounts for 89% of FX activity amongst the country’s highest volume customers.
AUD/INR is also growing. “Australian banks are seeing more Indian rupee flows as trade and investment buying lexapro picks up between the two countries,” he says. “Perhaps that is not such a surprise since Perth is closer to Calcutta than it is to Sydney or Melbourne.”
“However, Indian rupee still has a long way to go before it catches up with the China relationship. The Australian dollar is a good proxy for world sentiment on China.”
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