The Australian national currency has fallen to its lowest level since September 2010 after high selling in the US trading on Friday.

The Australian dollar more than 1.5 per cent to as low as 91.13 US cents and closed at 91.36 US cent on concerns that the US federal reserve might begin roll  back of its stimulus package in September. The US dollar has strengthened against most major currencies in the foreign exchange markets. The Australian dollar has been trading at around 92.66 US cents after touching a low of 91.48 US cents at the beginning of the week.

Australian dollar is headed for its highest fall in a week since the September of 2011 on concerns that that Australia's yield advantage over the US assets would fall. The Australian national currency has fallen to its lowest level against the US dollar as the US Federal Reserve indicated that it might start rolling back its stimulus and on concerns that the slowdown in China might convince the Reserve Bank of Australia to cut borrowing costs. 

Meanwhile, The International Monetary Fund (IMF) has indicated that it might consider giving Australian dollar the status of being a reserve currency, in an effort to boost its value.