January 02, 2019, 03:27 PM 
Singaporean holidaymakers going to Australia, rejoice.
Besides amazing beaches, forest trails for hiking and generous servings of great food, another thing going in favour for Australia as a holiday destination is its currency.
The Australian dollar is currently trading at SG$1 to AUD1.04.
In other words, the Singaporean dollar is slightly stronger than the Australian dollar, when it used to be the other way round.
A trip to Australia for Singaporeans has been made much more affordable almost overnight.
The last time the Australian dollar sunk to this level against the Singapore dollar was almost 10 years ago.
Long-term trend
Screen shot from XE.com.
You can see from this XE.com chart over a 10-year period: The Australian dollar is at a near 10-year low against the Singapore dollar.
This chart from Bloomberg tells the same story, over a five-year period.
Screen shot from Bloomberg.
In February 2009, S$1 was AUD0.9458.
On Jan. 2, 2019, S$1 was AUD0.9555.
There are predictions that it could dip further.
What could be behind this fall in the Australian dollar?
In mid-December 2018, it was reported that the AUD's decline could be partially attributed to the global decline in the prices of crude oil.
As Australia is a major producer and exporter of liquefied natural gas (LNG), exporting nearly 60 million tonnes in 2017 and 2018, the cheaper price of oil would translate into a lower demand for LNG.
Whatever the reason, it's certainly a good time to go Down Under and buy all the Tim-Tams you want.
Top image by solvarsity via Wikimedia Commons
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