Despite what the Reserve Bank of Australia and politicians tell us, a low Aussie dollar is not cause for celebration, unless you enjoy celebrating failure. 
The exchange rate reflects the economic health of our country relative to its trading partners. Significant declines, as we have experienced, indicate poor trade and fiscal performance, and should be cause for concern, not joy.
Only a select few benefit from a declining currency, primarily our resource companies and other exporters.
The majority, who trade or consume imported products or travel overseas, suffer as their costs increase. Furthermore, every person or company with net Aussie dollar assets loses wealth every time the dollar falls. There is little positive impact on job creation. Miners and farmers are not big employers, and manufacturing jobs will not suddenly reappear just because the dollar goes down, due to other factors, such as high wages and property costs.
Policymakers mistakenly believe a low exchange rate helps produce a healthy economy. Consequently they will try and manipulate the rate lower, by talking it down or direct intervention. The truth is that an economy is far too complex for this to work, and it is the strength of the economy that drives the exchange rate, not vice versa.
Mark Engelbrecht
Floreat, WA