The AU$ is down to almost US$059.1 tonight - that's a fall of almost 15 percent since early January... whatever you buy then is ... going to likely have to rise by that amount. Average car fifty grand has to find another eight grand or so. Detergents, toothpaste - most of it from overseas - all up fifteen percent.Actually, it's theoretically a rise of around 17.6%. Check your maths. 100 becomes 85, 15 is 17.6% of 85.
Well I'm calling US$0.70 cents a hundred percent; it's been all over the shop today, as low as 55 cents - a drop of 15 cents is actually -21%.
Anyhow... it's all bad news for an economy that makes sweet F.A. here any more, the cost of all these imported goodies on our shelves goes up astronomically.
Let's keep a little perspective here....... Yes it's bad for importers, I tried to pay for an invoice of stuff from Europe today and got a hell of a shock the the AUD is rapidly approaching .5 against the EURO
But it will be a huge boom for exporters of agricultural products (we do a fair bit of that you know) plus the miners as much as everyone loathes them. With production ramping up again in China (yes, demand will be lower but better than nothing and you can guarantee that the Chinese government will come up with some novel stimulus measures to keep the masses placated) this will bring a few more dollars into Aus once converted.
Now that we don't make cars anymore who cares? No one in their right mind is running out and buying a car mid virus anyway unless they are looking for a bargain. But we do still make some things that you mentioned like detergents and now the locals will have a competitive advantage over the imported product.
Yes, this thing is going to hurt like hell but like in all economic transactions there will be winners and there will be losers.
Our long suffering farmers might turn out to be double winners here - high prices for their goods plus as they live in the sticks they have far less chance of catching Covid19!