AuD

The Australian dollar (ISO 4217 code AUD) is the official currency of the Commonwealth of Australia and its external territories. It is commonly displayed as A$ to distinguish it from other dollars in international contexts. The currency is issued by the Reserve Bank of Australia (RBA), the country’s central bank, and is subdivided into 100 cents.

Coins in current circulation include 5c, 10c, 20c, 50c, $1 and $2. Banknotes are issued in denominations of $5, $10, $20, $50 and $100. In practice, the 1c and 2c coins were gradually withdrawn from circulation starting in the early 1990s, with most cash transactions rounded to the nearest 5 cents. Since the late 20th century, Australian banknotes have been produced with polymer material, and the banknotes in use today are primarily polymer.

History and monetary arrangement: Decimal currency was introduced on 14 February 1966, replacing the Australian pound at a fixed rate of 2 dollars per pound. The Australian dollar was floated in December 1983, allowing its value to be determined by market forces rather than a fixed peg.

Usage and significance: The AUD is widely used across Australia and its external territories and is among the most traded currencies in the Asia-Pacific region. It serves as a major domestic medium of exchange and is held as a reserve asset by some international investors, reflecting Australia’s open economy and integrated financial markets.