OANDA uses cookies to make our websites easy to use and customized to our visitors. Cookies cannot be used to identify you personally. By visiting our website you consent to OANDA’s use of cookies in accordance with our Privacy Policy. To block, delete or manage cookies, please visit aboutcookies.org. Restricting cookies will prevent you benefiting from some of the functionality of our website.
Australian Dollar
Overview
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".
Economy
- 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.
History
- 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.
Symbols and Names
- Symbols: Dollar - $, A$, AUD. cent - c
- Nicknames: Aussie, Menzies
ISO 4217 Code
AUD
Central Bank
Currency Subunits
- Cent (c) = 1/100 of a Dollar
Denominations
- Bills: $5, $10, $20, $50, $100
- Coins: 5c, 10c, 20c, 50c. $1, $2
Countries Using This Currency
- Australia
- Ashmore and Cartier Islands (Australian Territory)
- Australian Antarctic Territory (Australian Territory)
- Christmas Island (Australian Territory)
- Cocos (Keeling) Islands (Australian Territory)
- Coral Sea Islands (Australian Territory)
- Heard Island and McDonald Islands (Australian Territory)
- Kiribati
- Nauru
- Norfolk Island (Australian Territory)
- Tuvalu
- view more
- view less
Currencies Pegged To AUD :
- Tuvaluan Dollar
- Kiribati Dollar
AUD Is Pegged To:
None
Your capital is at risk. Losses can exceed investment. Leverage trading is high risk and not for everyone.