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**Coffee Break** · 10-16-2010 06:00 AM

THE Australian dollar reached parity with the US dollar for the first time since the currency was floated in December 1983.

The local currency rose to $US1.00 at 11.18pm (AEDT) last night in overseas trading.

It was the first time since 28 July 1982 that the Australian dollar has traded about one US dollar.

In afternoon London deals, the Aussie soared as high as $US1.0003, hitting its highest level since being floated 27 years ago. Moments later it pulled back to stand at 99.50 US cents.

But by 3:04am (AEDT) on Saturday it had retreated to $US98.84.

Federal Treasurer Wayne Swan said the milestone reflected the strength of the Australian economy.

"The Government supports a floating currency, which has served our nation well as a shock absorber against global events for more than a quarter of a century," Mr Swan said.

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**Spunner** · 10-16-2010 11:41 AM

Very good for us when buying things in USD! Wink

**forwardone** · 10-16-2010 04:10 PM

Never thought I'd see the day...

**Spunner** · 10-16-2010 10:32 PM

GBP is next!

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