10 Worst Performing Currencies of 2024

6. Australian Dollar

1 USD = 1.61 AUD

2024 Returns: -9.1%

Last year, there was an expectation that the Australian dollar would appreciate versus the US dollar. However, things didn’t exactly pan out that way, with the Australian dollar falling to new lows against the USD. The AUD plunged as low as 62 US cents, its lowest level since October 2022, while the ASX had one of its worst drops this year after the US Federal Reserve reduced interest rates by 0.25 percentage points in December. Interestingly enough, however, the AUD’s decline was primarily ascribed to the economic downturn in China, which is the country’s largest trade partner, accounting for 35% of Australian exports.