Our smart tech means we’re more efficient – which means you get a great rate. Established in 1966, the Australian dollar (AUD) is the official currency of Australia and several countries and territories, including Christmas Island, Cocos Islands, Norfolk Island, Nauru, Tuvalu, and Kiribati. The Australian dollar symbol is $, however, symbols such as A$ or AU$ are also used to distinguish the Australian dollar from other dollar-denominated currencies. The Australian dollar, also known as the ‘buck’, ‘dough’ and ‘aussie’, ranks as the fifth most traded currency in the world. This is because Australia has high interest rates and little government control on currency trading.

Australian Currency and USD to AUD

The territory’s first coinage was introduced in 1813, including a 15 pence and 5 shilling coin (known as the “Holey dollar”). The pound sterling was later introduced, followed by the Australian pound in 1909. If you want to exchange AUD in Australia you’ll need to shop around, looking at the currency exchange options available to you online and in your local area.

Exchange Rate and International Usage

Holey dollars were used as a form of currency in the colony from 1813 until 1829. During this time, they were used alongside other foreign coins, such as Dutch guilders and Portuguese johannas. You can exchange your money for Australian dollars at airports, banks, and currency exchange offices. Like most currencies, the AUD moves versus other currencies due to economic data releases, including the country’s gross domestic product (GDP), retail sales, industrial production, inflation, and trade balances.

ATMs and Currency Exchange:

In February 1959, treasurer Harold Holt appointed a Decimal Currency Committee to examine the merits of calculated bets decimalisation. Is a site operated by TRAVELNER TRAVEL AGENCY L.L.C, a licensed travel agency in Dubai regulated by the Government of Dubai’s Department of Economy and Tourism. We specialize in assisting international travelers in Dubai with their trips to Australia, offering support for visa applications, travel advice, and tour arrangements.

• By adopting a decimalised currency, Australia could keep pace with its trading partners and the majority of the world.
• Currently, denominations of 5, 10, 20, 50, and 100 AUD are in circulation.
• You’ll need to have ways to spend in AUD during your visit, which can mean carrying some cash, getting a prepaid travel card before you leave home, or using your credit card.
• The first people to settle on Australia are believed to have arrived between 40,000 and 70,000 years ago.
• The Australian dollar, was effectively pegged to the pound sterling at an equivalent value of about 1 gram of gold.

Legal Tender

The high level of trade in Australia is partially due to the country’s economic and political stability and minimal government interference in the foreign exchange industry. Commemorative coins have been produced in various denominations over the years, with the 20 cent, 50 cent, and 1 dollar coins being the most commonly used. The Australian dollar is a unique currency that stands out from other dollar currencies with its colorful banknotes and distinct coinage. A pre-decimal amount of nine pounds, sixteen shillings and sixpence (£9 16s 6d) became $19.65 in terms of dollars and cents. The coins come in various denominations, including 1, 2, 5, 10, 20, and 50 cents, as well as $1 and $2 coins.

• Using a wallet like Apple Pay or Google Pay is super convenient and allows you to tap and pay in stores and anywhere contactless payments are accepted.
• The next came in 1985, with a new crown and pose, and finally, the most recent, in 1999, showing a more age-appropriate portrait of Elizabeth.
• Other factors include a relative lack of central bank intervention, and general stability of the Australian economy and government.
• Due to its relatively high interest rates, the Australian Dollar is often used in carry trades with the Japanese Yen.
• There’s a good network of ATMs across Australia, and card payments are also widely accepted.

You use the information at your own risk, for more details read ‘how our site works’. Just use your prepaid travel card at an ATM whenever you need to restock your suppliers of local cash in Australia, to avoid the risk of carrying too much cash in your pocket at any given time. This guide will walk through all you need to know, including US dollar/Australian Dollar rates and where best to get your travel money from. Open a Wise account online or in the Wise app, to order a Wise travel card you can use for convenient spending and withdrawals in Australia.

What is the old Australia currency?

Since the end of China’s large-scale purchases of Australian commodities in 2013, however, the Australian dollar’s value versus the US dollar has since plunged to $0.88 as of end-2013, and to as low as $0.57 in March 2020. With a mass of 15.55 grams (0.549 oz) and a diameter of 31.51 millimetres (1+1⁄4 in), the Australian 50-cent coin is one of the largest coins used in the world today. Australia’s coins are produced by the Royal Australian Mint, which is located in the nation’s capital, Canberra. Since opening in 1965, the Mint has produced more than 14 billion circulating coins, and has the capacity to produce more than two million coins per day, or more than 600 million coins per year. For security, these notes bear a transparent window with an image of Captain James Cook.

Planning smart and convenient ways to spend in AUD when you’re away is likely to mean you save on costs in the end. Learn about Australian currency, including notes, coins, and exchange rates, in this comprehensive guide to understanding Aussie money. The Australian dollar’s value is influenced by several key factors, including its high interest rates and relatively free foreign exchange market from government intervention. As of 2019, the Australian dollar ranked as the fifth most traded currency in the world, according to worldwide foreign exchange transactions, accounting for approximately 7% of trade. The high trading volume is due in part to Australia’s political and economic stability and to the government’s limited intervention in the foreign exchange market. Australian notes and coins are also legal tender in the independent sovereign states of Kiribati, Nauru, and Tuvalu.567 Nauru never had its own currency.

In 1966, coins were introduced in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel; 75% copper, 25% nickel); and 50 cents (silver, then cupronickel). In everyday Australian parlance, these coins collectively are referred to as “gold coins”. 1 and 2 cent coins were discontinued in 1991 and withdrawn from circulation in 1992; since then cash transactions have been rounded to the nearest 5 cents. From the Pound Sterling to the Australian DollarIn 1825, the government imposed the Sterling standard and British coins began to be minted in Australia.

Australia’s economic growth was hindered by its complex currency system, with the Australian pound being divided into 20 shillings of 12 pence each, making financial transactions a chore. In 1966, the Australian government also introduced the Reserve Bank of Australia’s (RBA) authority to manage the currency and regulate the banking system. The RBA is responsible for maintaining the stability of the financial system and the value of the Australian dollar. The first commemorative 1 dollar coin was issued in 1986, marking the International Year of Peace. The first commemorative coin was minted that year, with a denomination of 50 cents, to honor James Cook’s exploration along the east coast of the Australian continent. The Australian dollar replaced the pound in 1966, with 1 Australian dollar divided into 100 cents.

To make it hard to copy these notes, they have see through windows with a picture image of Captain James Cook. Every note also has a seven-pointed star which has only half the printing on each side. The Australian dollar (AUD) is the official currency of the Commonwealth of Australia.

Need Help with Your Visa or Travel Plans to Australia?

During the commodity slump of 2015, oil prices hit decade lows and both iron ore and coal prices dropped to recent lows. As a result, the Australian dollar weakened sharply, falling more than 15 percent against the U.S. dollar reaching parity against the New Zealand dollar (NZD) – levels not seen since the 1970s. AUD (Australian Dollar, or “Aussie”) is the currency abbreviation for the Australian dollar (AUD), the offocial currency for the Commonwealth of Australia. The Australian dollar is made up of 100 cents and is often presented with the symbol $, A$, or AU$. The AUD replaced the Australian pound, which was a holdover from its days as a British colony, in 1966. The first polymer banknote was issued in 1988 as a $10 note33 commemorating the bicentenary of European settlement in Australia.