The Aussie buck opens higher than its previous two-year high of $US 94.69 cents achieved on Friday by opening trade at $US 94.75 cents.

Tuesday's opening trading value is far higher than Monday's close of $US 94.48 cents. It has traded between $US 94.29 cents and $US 94.94 cents since 5 p.m. on Monday.

The Australia dollar can buy the British pound at $AU 1.64, the Euro at $AU 1.38, and the Canadian dollar at $AU 1.02. It could be exchanged with a unit of the Chinese Yuan for $AU 0.15 cents, the Hong Kong dollar for $AU 0.13 cents, and the Japanese Yen for 0.01 cent.

The New Zealand Kiwi is worth $AU 0.77 cents. Against the Singapore dollar, the local unit is equivalent to $AU 0.79 cents.

The dollar rose to $US 94.60 cents after Reserve Bank of Australia (RBA) governor Glenn Stevens delivered his speech at a business lunch yesterday. Monday's climb was a two-year record and the local currency's highest price since the global financial crisis.

Bank of New Zealand currency strategist Mike Jones said, “Yesterday's notably upbeat speech from Stevens really set the scene for the Aussie last night... Most debt markets are now pricing in a one in three chance of a rate hike in October.”

A 25 basis point increase in the cash rate this October will bring the benchmark rate to 4.75 percent.