Lexi Webster
The Australian dollar (AUD) is the official currency of Australia and its territories, as well as some Pacific Island nations. It is the sixth most traded currency in the world and is divided into 100 cents. The Australian dollar symbol is '$$$', but 'A$' or 'AU$' are also used to distinguish it from other dollar-denominated currencies. When displaying Australian dollars, it is recommended to use the dollar symbol and numerals, with no space between the symbol and the number. For example, 'A$89' or '$89'.
| Characteristics | Values |
|---|---|
| Currency Name | Australian Dollar |
| Currency Code | AUD |
| Currency Symbol | $ |
| Country Code | AU |
| Country | Australia |
| Banknote Denominations | $5, $10, $20, $50, $100 |
| Number of Decimal Places | 2 |
| Coins | 5c, 10c, 20c, 50c, $1, $2 |
| Central Bank | Reserve Bank of Australia |
| Exchange Rate (in 1966) | A$2 = A£1 |
| Exchange Rate (in 1967) | A$1 = US$1.12 |
| Commodity Currency | Yes |
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What You'll Learn
Using the dollar symbol ($)
The Australian dollar is denoted by the $ symbol, which is the same symbol used for the US dollar. However, to distinguish it from other dollar-denominated currencies, the Australian dollar is also abbreviated as A$ or AU$.
When writing out Australian dollar amounts, place the $ symbol before the numerals with no space in between. For example, $49.50. For an amount less than $1, you can write it as a whole number of cents (e.g., 50c) or as a decimal value (e.g., $0.50). Always use two digits after the decimal point. If the amount is less than 10 cents, use a zero before the number of cents (e.g., $0.05).
If your content is clearly referencing Australian dollars only, using the $ symbol is sufficient. However, if there is a chance of confusion with other currencies, it is recommended to use the country prefix "A" before the $ symbol (e.g., A$49.50). This is especially important for global audiences or when the context is not exclusively Australian.
Screen readers and voice assistants may also influence your choice of currency symbol. NVDA, Narrator, and VoiceOver can recognise the three-letter IBAN code "AUD" for Australian dollars, but JAWS and TalkBack do not recognise it and attempt to pronounce it as a word. Most screen readers will announce the $ symbol as "dollar", but some may not recognise the currency. In such cases, using the "A$" format may be more accessible.
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AUD or other currency codes
The Australian dollar (AUD) is the official currency of Australia and several countries and territories, including Christmas Island, Cocos Islands, Norfolk Island, Nauru, Tuvalu, and Kiribati. The Australian dollar is also the legal tender of three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
The Australian dollar symbol is $, and the currency code is AUD. However, the symbols A$ or AU$ are also used before the dollar sign to distinguish the Australian dollar from other dollar-denominated currencies. For example, A$89 or AU$89. The $ symbol should precede the amount.
The Australian dollar was introduced as a decimal currency on 14 February 1966, replacing the non-decimal Australian pound. The conversion rate was two dollars to the pound (A£1 = A$2). The Australian dollar is subdivided into 100 cents.
The Australian dollar has five denominations of notes: $5, $10, $20, $50, and $100. The $1 and $2 notes were replaced by coins in 1984 and 1988, respectively. The country's coins are issued in six denominations: 5c, 10c, 20c, 50c, $1, and $2. The 1 and 2 cent coins were discontinued in 1991 and withdrawn from circulation in 1992. Since then, cash transactions have been rounded to the nearest 5 cents.
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Commemorating events with special designs
The Royal Australian Mint has an international reputation for producing quality numismatic coins. It has a history of commemorating events with special designs on its coins and banknotes.
In 1970, the Royal Australian Mint issued its first commemorative 50-cent coin, marking James Cook's exploration of the east coast of the Australian continent. This was followed by coins commemorating Queen Elizabeth II's Silver Jubilee in 1977, the wedding of Charles and Lady Diana in 1981, the Brisbane Commonwealth Games in 1982, and the Australian Bicentenary in 1988.
The demand for commemorative coins increased in the 1990s and continues to this day. These designs have been featured on circulating two-dollar, one-dollar, and 20-cent coins. For instance, in 2006, to commemorate the 40th anniversary of decimal currency, the mint proof and uncirculated sets included one- and two-cent coins. In 2013, Australia introduced its first triangular coin to mark the 25th anniversary of the opening of Parliament House.
The $50 note, introduced in 1973, and the $100 note, introduced in 1984, were responses to inflation, requiring larger denominations for transactions. The $10 note, issued in 1988, was the first Australian plastic banknote, commemorating the bicentenary of European settlement in Australia. It featured a transparent window with a diffractive optically variable device (DOVD) image of Captain James Cook as a security feature.
In 2001, a special commemorative 'Federation' $5 note was produced. The $5 note has also been in the news recently, with the decision to replace Queen Elizabeth II's portrait with a design honouring Indigenous history and culture, rather than a portrait of King Charles III. This decision respects the wishes of Australians, as only 34% wanted to see King Charles replace the Queen on the note, with 43% preferring a famous Australian. The other side of the new $5 note will continue to display an image of Parliament House.
To display Australian dollars, the currency symbol '$' is used, with the amount preceding the symbol. When necessary to distinguish it from other dollar-denominated currencies, it can be written as A$ or AU$.
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Replacing banknotes with coins
The Australian dollar (AUD) is the official currency of Australia and its external territories, as well as some Pacific Island states. It is subdivided into 100 cents, with coins issued in denominations of 5c, 10c, 20c, 50c, $1 and $2.
In 1984, the $1 banknote was replaced by a $1 coin, and in 1988, the $2 banknote was replaced by a smaller $2 coin. These coins are often referred to as "gold coins" in Australian parlance. The introduction of these coins was intended to replace the banknotes of the same value. The $1 coin is made of aluminium bronze (92% copper, 6% aluminium, 2% nickel), while the $2 coin is also made of aluminium bronze.
The replacement of the $1 and $2 banknotes with coins was not the first time that coins had been introduced to replace banknotes in Australia. In 1966, when the Australian dollar was introduced as a decimal currency, coins were issued in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel; 75% copper, 25% nickel); and 50 cents (silver, then cupronickel). The 50-cent silver coins were discontinued in 1968 due to the intrinsic value of their silver content rising above the face value of the coins.
Today, Australia's coins are produced by the Royal Australian Mint, which has a reputation for producing quality numismatic coins. The Mint has also issued commemorative coins to mark special occasions, such as the wedding of Charles, Prince of Wales, and Lady Diana Spencer in 1981, and the Brisbane Commonwealth Games in 1982.
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$79.99
Conversion from Australian pounds
The Australian dollar (AUD) was introduced on 14 February 1966 to replace the non-decimal Australian pound, with a conversion rate of two dollars to the pound (A$2 = A£1).
The $ symbol is used to denote the Australian dollar, although the versions with one or two strokes are both acceptable. To distinguish it from other dollar-denominated currencies, the Australian dollar is also abbreviated to A$ or AU$.
In 1966, coins were introduced in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel; 75% copper, 25% nickel); and 50 cents (silver, then cupronickel). The 80% silver 50-cent coins were no longer minted after March 1968 as the value of the silver content exceeded the face value of the coins.
The $1 banknote was replaced by a $1 coin in 1984, and the $2 banknote was replaced by a smaller $2 coin in 1988. The 1 and 2 cent coins were discontinued in 1991 and withdrawn from circulation in 1992. Since then, cash transactions have been rounded to the nearest 5 cents.
When referencing the Australian dollar, it is recommended to use the country prefix followed by the dollar symbol, i.e., A$. This is to avoid confusion with other dollar currencies.
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