Australia's central bank supported A$, worst over

Australia's central bank intervened to support the local dollar to the tune of A$860 million in November as the currency plumbed record lows, the Reserve Bank said on Dec 21 2000. But analysts believe further intervention, which has totalled A$1.466 billion in the past three months, may not be needed as the Australian dollar appears to have turned the corner.

The local currency has recovered as the U.S. dollar has weakened, trading on Dec 21 2000 at US$0.5520, more than four cents cents above