AUD - Australian Dollar (A$)
The Australian dollar is the currency of the Commonwealth of Australia and its independent islands. AUD is the code for the dollar. It’s symbolised by $, but can be written using A$ or AU$ to distinguish it from other dollar-based currencies. The AUD is most commonly exchanged in global markets with the British pound, and it is a fiat currency. It’s the fifth most traded currency in the world, behind the US dollar, the euro, the Japanese yen, and the pound sterling. The conversion factor for AUD has 5 significant digits.
The Australian Dollar (AUD) is the currency unit used in the Commonwealth of Australia. The Australian Dollar symbol is $. Commonwealth of Australia states include Cocos Islands, Norfolk Island, Pacific Island states, Christmas Island, and Australia. The Dollar is rated by the World Foreign Exchange market as the fifth most-traded currency in the world. The Australian Dollar is also known as the "Aussie".
The Australian Dollar is the currency in Australia (AU, AUS), Canton and Enderbury Islands, Christmas Island (CX, CXR), Cocos Islands (Keeling Islands, CC, CCK), Heard and McDonald Islands (HM, HMD), Kiribati (KI, KIR), Nauru (NR, NRU), Norfolk Island (NF, NFK), and Tuvalu (TV, TUV). The symbol for AUD can be written A$, Au$, $Au, Aud$, $Aud, Aus$, and $Aus. The Australian Dollar is divided into 100 cents. The exchange rate for the Australian Dollar was last updated on Today from The International Monetary Fund. The AUD conversion factor has 6 significant digits.
- Australia has a strongly developed and established modern economy.
- In 2011, Australia was rated the 13th biggest economy by GDP.
- Australia‘s economy relies on the service industry, which contributes 60% of the total GDP.
- Import products are computers, machines, telecommunication parts, equipment, petroleum products, and crude oil.
- Export products include gold, meat, aluminia, wool, wheat, iron ore, and coal. The total export value for the year 2010 is estimated at $2.107 billion AUD.
- The Australian Dollar replaced the Australian Pound in 1966. The currency was valued at 2 AUD = 1 Pound and the first coins introduced were 1 cent, 2 cents, 5 cents, 10 cents, 20 cents, and 50 cents.
- In 1967, Australia abandoned the sterling standard and pegged the Australian dollar to the United States Dollar at a rate of 1 AUD = 1.12 USD.
- In 1983, the AUD became a floated currency.
- In 1984, the Australian one-dollar coin was introduced; in 1988 the two-dollar coin was introduced.
- In 2006, the 1-cent and 2-cent coins were discontinued and taken out of circulation.
- Australia has made special edition coins and notes to commemorate events, such as the Commonwealth Games of 1982.