SINGAPORE - The Australian dollar hit record lows below parity against the Singapore currency on Thursday (Aug 27).
The Aussie unit fell as low as 1.0049 to one Singdollar at 12.44am before recovering ground but still trading below parity with the local currency.
The Aussie dollar was trading at 1.0017 per Singdollar at 1.30pm, up from its close of 0.9997 on Wednesday.
Plunging commodity prices around the world, the rising US dollar and the uncertainty over China - which is a key export market - continued to weigh on the Aussie currency, which has been on a downward trajectory for months.
It closed below the Singdollar for the first time since the global financial crisis in 2009 on July 31 this year, when it fell to 1.0031 per Singdollar.