Australian dollar
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies;[1][2] 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.[3][4][5][6] As of 2022, it is the sixth most-traded currency in the foreign exchange market and also the seventh most-held reserve currency in global reserves.[7]
"AUD" redirects here. For other uses, see AUD (disambiguation).
A$, AU$
AUD (numeric: 036)
0.01
dollar
$
$_$_$DEEZ_NUTS#1__answer--4DEEZ_NUTS$_$_$
$_$_$DEEZ_NUTS#1__answer--6DEEZ_NUTS$_$_$
c
$_$_$DEEZ_NUTS#1__answer--8DEEZ_NUTS$_$_$
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14 February 1966
Kiribati (alongside Kiribati dollar)
Nauru
Tuvalu (alongside Tuvaluan dollar)
3.6% (Australia only)
Reserve Bank of Australia, March quarter 2024.
Tuvaluan dollar and Kiribati dollar at par
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.[8][9]
In 2023, there were A$4.4 billion in coins[10] and A$101.3 billion in notes[11] of Australian currency in circulation, or around A$6,700 per person in Australia,[12] which includes cash reserves held by the banking system and cash in circulation in other countries or held as a foreign exchange reserve.
Constitutional basis[edit]
Section 51(xii) of the Constitution of Australia gives the Commonwealth (federal) Parliament the power to legislate with respect to "currency, coinage, and legal tender".[13] The states are not allowed to coin money, in accordance with section 115 which provides that "[a] State shall not coin money, nor make anything but gold and silver coin a legal tender in payment of debts".[14] Under this provision the Perth Mint, owned by the Western Australian government, still produces gold and silver coins with legal tender status, the Australian Gold Nugget and Australian Silver Kookaburra. These, however, although having the status of legal tender, are almost never circulated or used in payment of debts, and are mostly considered bullion coins. Australian coins are now produced at the Royal Australian Mint in Canberra.
Legal tender[edit]
Within Australia[edit]
Australian notes are legal tender throughout Australia by virtue of section 36(1) of the Reserve Bank Act 1959 without an amount limit.[65] Section 16 of the Currency Act 1965 similarly provides that Australian coins intended for general circulation are also legal tender, but only for the following amounts:[66]