The Australian national currency has fallen to its lowest level in a period of three years providing a boost the country's manufacturers as it will make Australian exports cheaper in the global markets.

The Australian dollar fell below US90c mark for the first time in three years ahead of the strong U. S. jobs data that is expected to back the US Federal Reserve's plans to cut its stimulus package. The Australian dollar fell 0.4 per cent to 88.92 U. S. cents this morning in Sydney and is heading towards a 4 per cent fall this week, which is the highest fall since September 2011.

Australia's central bank, the Reserve Bank of Australia is set for a monetary policy decision next week and many expect the officials to reduce the interest rates in eth country to boost liquidity. The RBA is expected to reduce the overnight cash rate target by 25 basis points to 2.5 per cent at its meeting scheduled for 6 August, 2013, according to economists surveyed by Bloomberg News.

The slide in the country's currency is a positive development for the struggling manufacturing sector as the global buyers will have more purchasing power for acquiring Australian products.