Australian dollar

"AUD" redirects here. For other uses, see AUD (disambiguation).

Australian dollar
A$, AU$
$100 banknote (2020, obverse)$1 coin (reverse)
ISO 4217
CodeAUD (numeric: 036)
Subunit0.01
Unit
UnitDollar
Symbol$‎
Denominations
Subunit
 1⁄100cent
Symbol
 centc
Banknotes
 Freq. used$5, $10, $20, $50, $100
 Rarely used$1, $2 (no longer in production)
Coins
 Freq. used5c, 10c, 20c, 50c, $1, $2
 Rarely used1c, 2c (no longer in production)
Demographics
Date of introduction14 February 1966; 58 years ago (1966-02-14)[1]
ReplacedAustralian pound
User(s) Australia
3 other countries
Issuance
Central bankReserve Bank of Australia
 Websiterba.gov.au
PrinterNote Printing Australia
 Websitenoteprinting.com
MintRoyal Australian Mint
 Websiteramint.gov.au
Valuation
Inflation2.8% (Australia only)
 SourceReserve Bank of Australia, September quarter 2024.
Pegged byTuvaluan dollar and Kiribati dollar at par

The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies;[2][3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.[4][5][6][7] In April 2022, it was the sixth most-traded currency in the foreign exchange market[8] and as of Q4 2023 the seventh most-held reserve currency in global reserves.[9]

The Australian dollar was introduced as a decimal currency on 14 February 1966 to replace the non-decimal Australian pound, with the conversion rate of two dollars to the pound (A£1 = A$2). It is subdivided into 100 cents. The $ symbol precedes the amount. On the introduction of the currency, the $ symbol was intended to have two strokes, but the version with one stroke has also always been acceptable.[10][11]

In 2023, there were A$4.4 billion in coins[12] and A$101.3 billion in notes[13] of Australian currency in circulation, or around A$6,700 per person in Australia,[14] which includes cash reserves held by the banking system and cash in circulation in other countries or held as a foreign exchange reserve.

  1. ^ Cite error: The named reference currency_act was invoked but never defined (see the help page).
  2. ^ McGovern, Gerry; Norton, Rob; O'Dowd, Catherine (2002). The Web content style guide: an essential reference for online writers ... FT Press. p. 104. ISBN 978-0-273-65605-0. Archived from the original on 14 January 2023. Retrieved 30 July 2010.
  3. ^ The Canadian Style. Dundurn Press/Translation Bureau. 1997. ISBN 1-55002-276-8. Retrieved 30 July 2010.
  4. ^ Reserve Bank Act 1959, s.36(1) Archived 16 June 2019 at the Wayback Machine, and Currency Act 1965, s.16 Archived 9 May 2019 at the Wayback Machine
  5. ^ "Currency". The Government of the Republic of Nauru. Retrieved 12 February 2023.
  6. ^ "Tuvalu country brief". Australian Government – Department of Foreign Affairs and Trade. Retrieved 12 February 2023.
  7. ^ "Kiribati country brief". Australian Government – Department of Foreign Affairs and Trade. Retrieved 12 February 2023.
  8. ^ Triennial Central Bank Survey Foreign exchange turnover in April 2022 (PDF) (Report). Bank for International Settlements. 27 October 2022. p. 12. Archived (PDF) from the original on 27 October 2022.
  9. ^ "Currency Composition of Official Foreign Exchange Reserves". IMF Data. International Monetary Fund. 9 March 2024.
  10. ^ Style Manual: For Authors and Printers of Australian Government Publications (1st ed.). Canberra: Commonwealth Government Printing Office. 1966. p. 35. OCLC 10365249.
  11. ^ Australian Decimal Currency Board (1965). The decimal currency handbook : a comprehensive guide to Australia's new decimal currency and the changeover period - planned to begin in 1966. p. 19. NLA: 585292.
  12. ^ Royal Australian Mint (22 September 2023). 2022–23 Annual Report (PDF) (Report). Commonwealth of Australia. p. 95. ISSN 2206-0375.
  13. ^ Reserve Bank of Australia Annual Report 2023 (Report). 14 September 2023. p. 103. ISSN 1448-5303.
  14. ^ Wright, Shane (23 July 2023). "Big change: Development shows Australia may have reached peak cash". The Sydney Morning Herald. Nine Entertainment. Retrieved 20 December 2023.