# Box A: Australia's Real Exchange Rate | Statement on Monetary Policy – May 2017 | RBA

> The Reserve Bank of Australia's May 2017 Statement on Monetary Policy explains how the mining boom drove large swings in Australia's real exchange rate. It notes that competitiveness has improved since commodity prices peaked in 2011 and the nominal exchange rate began depreciating in 2013.

- Date: 2017-05-15 · published 2017-05-15T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/71265-box-a-australia-s-real-exchange-rate-statement-on-monetary-policy-may-2017-rba
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

This is background on currency competitiveness rather than a new shock, so it has little direct effect on feed commodity prices.

## Read by commodity

- AUDUSD: neutral

## Sources

- rba.gov.au: https://www.rba.gov.au/publications/smp/2017/may/box-a-australian-services-trade.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.