The Australian dollar was trading at $US 97.75 cents early this morning.

The value is $US 66 cents (68 percent) higher than Wednesday's close of $US 97.2 cents. Overnight, the Aussie buck reached $US 97.92 cents.

The dollar was trading between $US 97.06 cents and $US 97.92 cents since 5 p.m. yesterday.

The Australia dollar can buy the British pound at $AU 1.6297, the Euro at $AU 1.4221, and the Canadian dollar at $AU 1.0144. It could be exchanged with a unit of the Chinese Yuan for $AU 0.1533 cents, the Hong Kong dollar for $AU 0.1323 cents, and the Japanese Yen for 0.0123 cent.

The New Zealand Kiwi is worth $AU 0.7719 cents. Against the Singapore dollar, the local unit is equivalent to $AU 0.7833 cents.

The tourism industry, both inbound and domestic, could also hurt more with the rising local currency. Even the export sector would continue to experience some tightening if the local unit will continue near the $US 98 cent range.

Aside from these, the number of available employment dropped by 5.7 percent in September; primarily, due to rising fears a Reserve Bank increase in interest rates. Consumers remain conservative at spending and this has kept retailers from hiring.