Australian dollar
| 252px Australian $5 polymer banknote | |
| ISO 4217 | |
|---|---|
| Code | Template:ISO 4217/code/format |
| Subunit | Template:ISO 4217/code-minor-unit/format |
| Unit | |
| Symbol | $ |
| Denominations | |
| Banknotes | |
| Freq. used | $5, $10, $20, $50, $100 |
| Coins | |
| Freq. used | 5c, 10c, 20c, 50c, $1, $2 |
| Issuance | |
| Central bank | Reserve Bank of Australia |
The Australian dollar (sign: $; code: AUD) is the currency of Australia, including its external territories. It is also used by three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies.
History[edit | edit source]
The Australian dollar was introduced on 14 February 1966, replacing the Australian pound, which was pegged to the British pound sterling. The conversion rate was two dollars per pound, or ten shillings per dollar. The introduction of the dollar was part of a decimalisation process that was occurring in many countries around the world during the 1960s.
Coins and Banknotes[edit | edit source]
The Australian dollar is subdivided into 100 cents. The coins in circulation include 5, 10, 20, and 50 cent coins, as well as $1 and $2 coins. The banknotes in circulation are $5, $10, $20, $50, and $100.
Coins[edit | edit source]
The coins are produced by the Royal Australian Mint in Canberra. The $1 and $2 coins are made of an alloy of copper, aluminum, and nickel, while the smaller denominations are made of copper and nickel.
Banknotes[edit | edit source]
Australian banknotes are notable for being made of polymer, a type of plastic, which makes them more durable and resistant to counterfeiting. The Reserve Bank of Australia is responsible for issuing and managing the currency.
Exchange Rates[edit | edit source]
The Australian dollar is a free-floating currency, meaning its value is determined by the foreign exchange market. It is one of the most traded currencies in the world, often used as a proxy for global risk appetite due to Australia's significant commodity exports.
Economic Role[edit | edit source]
Australia's economy is heavily reliant on its natural resources, and the Australian dollar is often influenced by commodity prices, particularly those of iron ore and coal. The currency is also affected by interest rates set by the Reserve Bank of Australia, as well as global economic conditions.
Also see[edit | edit source]
Template:Currencies of Oceania Template:Currencies of Australia
Search WikiMD
Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro / Zepbound) available.
Advertise on WikiMD
|
WikiMD's Wellness Encyclopedia |
| Let Food Be Thy Medicine Medicine Thy Food - Hippocrates |
Translate this page: - East Asian
中文,
日本,
한국어,
South Asian
हिन्दी,
தமிழ்,
తెలుగు,
Urdu,
ಕನ್ನಡ,
Southeast Asian
Indonesian,
Vietnamese,
Thai,
မြန်မာဘာသာ,
বাংলা
European
español,
Deutsch,
français,
Greek,
português do Brasil,
polski,
română,
русский,
Nederlands,
norsk,
svenska,
suomi,
Italian
Middle Eastern & African
عربى,
Turkish,
Persian,
Hebrew,
Afrikaans,
isiZulu,
Kiswahili,
Other
Bulgarian,
Hungarian,
Czech,
Swedish,
മലയാളം,
मराठी,
ਪੰਜਾਬੀ,
ગુજરાતી,
Portuguese,
Ukrainian
Medical Disclaimer: WikiMD is not a substitute for professional medical advice. The information on WikiMD is provided as an information resource only, may be incorrect, outdated or misleading, and is not to be used or relied on for any diagnostic or treatment purposes. Please consult your health care provider before making any healthcare decisions or for guidance about a specific medical condition. WikiMD expressly disclaims responsibility, and shall have no liability, for any damages, loss, injury, or liability whatsoever suffered as a result of your reliance on the information contained in this site. By visiting this site you agree to the foregoing terms and conditions, which may from time to time be changed or supplemented by WikiMD. If you do not agree to the foregoing terms and conditions, you should not enter or use this site. See full disclaimer.
Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.
Contributors: Prab R. Tumpati, MD
