the pacific peso?

[koala bear]

I've often wondered by some locals here refer to the ozzie dollar as the 'pacific peso' when it's one of the worlds most commonly traded currencies?

Survey of Foreign Exchange and Derivatives Markets

In April 2010, the Reserve Bank conducted a survey of activity in foreign exchange and over-the-counter (OTC) derivatives markets in Australia. This was part of a global survey of 53 countries, co-ordinated by the Bank for International Settlements (BIS). Similar surveys have been conducted every three years since 1989.

Activity in Australia’s foreign exchange market has continued to increase since the previous survey in 2007, although the rate of growth has slowed. Total turnover increased by around 12 per cent, reflecting strong growth in spot turnover. In terms of global turnover, the Australian foreign exchange market remains the seventh largest in the world.

Globally, the Australian dollar is now the fifth most traded currency and the AUD/USD remains the fourth most traded currency pair.

The preliminary results of the global survey and links to other participating nations’ results are available from the BIS website. Results for the Australian market, collected by the Reserve Bank, are attached.

rba.gov.au/media-releases/2010/mr-10-19.html

[BananaMan]

It's just a jibe at how weak a currency is, nothing to do with how much it is traded. Am sure that GBP is even more commonly traded that AUD, but in the last year or so, you might have heard people refer to the British Peso

[koala bear]

hmmm.... yes a couple of times, which is odd at the pound is still stronger than most currencies, same with the ozzie dollar - how many currencies are there that are stronger? yes the euro and usd, but what else in the way of the majors?

[Mystery]

to PP...
the Swiss Franc for example 

[ok so there you go]

Between you, you just named the 5 most traded currencies, just need to add JPY (USD doesn't count as everything is quoted against it irrespective of what village idiot thinks).

Anyway, prefer to be the pacific peso than the "what's that".

Nobody put SGD in there did they.  Funny that.

[Keating]

I think that was the currency for the Banana Republic

[BananaMan]

hmmm.... yes a couple of times, which is odd at the pound is still stronger than most currencies, same with the ozzie dollar - how many currencies are there that are stronger? yes the euro and usd, but what else in the way of the majors?

Not weak in absolute numerical terms, but weak compared to previously.