Australian Stock Market News - Dollar has dropped

Dollar down on Chinese share market pain

The benchmark Shanghai Composite Index slumped 3.06 per cent

THE Australian dollar has dropped, following Chinese equities down.

At 0630 AEDT on Thursday, the currency was trading at 72.13 US cents, down from 72.50 cents on Wednesday.

The benchmark Shanghai Composite Index slumped 3.06 per cent on Wednesday, after rising strongly in recent weeks in a recovery from a rout over the summer.

CURRENCY SNAPSHOT AT 0630 AEDT ON THURSDAY

One Australian dollar buys:

* 72.13 US cents, from 72.50 cents on Wednesday

* 86.53 Japanese yen, from 86.98 yen

* 63.61 euro cents, from 63.87 euro cents