Weakening Asian currencies are dragging the Australian dollar down AUSTRALIA might be thousands of miles away from Asian financial centres but tumbling emerging-market currencies in the region are dragging the Australian dollar lower. Already one of the worst performing currencies globally in 2013, the Aussie now finds itself under a fresh assault, pulled lower against the US dollar as poor performers like the Indian rupee and the Indonesian rupiah fall to record lows and four-year lows respectively.