Lexi Webster
The Australian dollar is the official currency of Australia and its external territories, as well as three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. It was introduced in 1966 to replace the Australian pound, with a conversion rate of two dollars to the pound. The Australian dollar is subdivided into 100 cents, and the standard notation always places the dollar sign before the amount, with no space between them, e.g. $49.50. When writing for an international audience, it is recommended to use 'A$' to distinguish it from other dollar-denominated currencies.
| Characteristics | Values |
|---|---|
| Currency Symbol | $ or A$ |
| Currency Code | AUD |
| Currency Name | Australian dollar |
| Currency Subdivisions | 100 cents |
| Number of Decimal Places | 2 |
| Comma Placement | No comma for thousands below 10,000 |
| Currency Symbol Placement | Before the amount |
| Use of Non-Australian Currency Symbols | Avoid |
| Use of Currency Codes | AUD for general writing, A$ for international audiences |
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What You'll Learn
Using the dollar symbol
The Australian dollar is the official currency and legal tender of Australia, and it is also used in some external territories and three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. It was introduced on 14 February 1966 to replace the non-decimal Australian pound.
When using the dollar symbol to write prices in Australian dollars, there are a few conventions to follow. Firstly, the $ symbol should always precede the amount, with no space between the symbol and the number. For example, the correct way to write a price of forty-nine dollars and fifty cents is $49.50. This is similar to the style used in the USA.
If you are writing for an international audience, it is recommended to use the "A$" symbol to explicitly indicate Australian dollars. For example, A$49.50. This is to avoid confusion with other dollar-denominated currencies, such as the US dollar or New Zealand dollar. However, when writing specifically for Australian audiences, it is acceptable to use the "$" symbol without the "A".
When writing about amounts less than one dollar, you can express it as a whole number of cents or as a decimal value. For example, either $0.20 or 20c are correct. For decimal values, always use two digits after the decimal point, and do not insert a space between the number and the "c". For example, $0.20 or 20c, not $0.2 or 20 cents. If the amount is less than 10 cents, use a zero before the number of cents, such as $0.05 or 5c.
It is important to note that non-Australian currency symbols may be inaccessible to people using screen readers. Therefore, it is recommended to use the three-letter International Bank Account Number (IBAN) currency codes, such as USD for US dollars or THB for Thai baht, when referencing foreign currencies.
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Australian currency history
To write a price in Australian dollars, place the dollar sign before the amount, with no space between them. For example, $49.50.
Now, let's delve into the history of Australian currency.
Before European colonisation, Aboriginal Australian communities traded using items like tools, food, and raw materials, but no currency. After colonisation in 1788, New South Wales became a British colony and was provided with English currency, though the supply was insufficient.
At federation in 1901, the currency in the Australian colonies (which became states) consisted of British silver and copper coins, Australian-minted gold sovereigns and half sovereigns, locally minted copper trade tokens, and private bank notes. The Perth Mint opened in 1899, where gold miners could exchange raw gold for gold coins.
In 1910, a national Australian currency was created: the Australian Pound, which was at par with the British Pound. This was introduced by the federal Labor Government, which assumed power over currency matters and passed the Australian Notes Act. The Australian Pound was divided into 240 pence or 20 shillings, each comprising 12 pence.
In 1911, as a transitional measure, blank note forms of 16 banks were supplied to the government to be issued as the first Commonwealth notes. In 1913, Australia's first federal government-issued banknotes were circulated.
From the early 19th century until 1971, the exchange rate of the Australian currency was fixed to the British Pound. In 1929, during the Great Depression, Australia left the gold standard, resulting in a devaluation relative to sterling.
In 1931, the Australian currency was devalued by 25%, so one pound sterling was equivalent to one pound five shillings Australian. In 1937, a banking royal commission recommended that Australia adopt a decimal system, but this was not accepted.
In 1959, a Decimal Currency Committee was appointed to investigate decimal currency, and in 1960, they recommended introducing the new system by February 1963. In 1961, the government confirmed its support for a decimal currency system, and in 1963, they announced that a decimal currency would be introduced at the earliest practicable date.
On 14 February 1966, the Australian Pound was decimalised, and the Australian Dollar was introduced, with a conversion rate of two dollars to the pound. The $ symbol was intended to have two strokes but has always accepted one stroke as well.
Since its introduction, the Australian Dollar has been the official currency and legal tender of Australia, including its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
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$88.99
Comma exclusion
When writing prices or amounts in Australian dollars, it is important to be clear and consistent with your formatting. Here are some guidelines to follow:
Use the dollar symbol ($) and numerals: The general recommendation is to use the dollar symbol ($) along with numerals to indicate the price in Australian dollars. This is the most common and recognisable way to express prices in Australia. The symbol should be placed before the numerals without any space in between, like this: $49.50.
Decimal point usage: The decimal point is used to separate the dollars from the cents in Australian currency. For example, $12.50 consists of twelve dollars and fifty cents. When expressing an amount less than one dollar, you can write it as a whole number of cents (e.g., 50c) or as a decimal value (e.g., $0.50). Always use two digits after the decimal point for decimal values.
Use "A$" for international audiences: When writing for an international audience, it is recommended to use "A$" before the amount to explicitly indicate Australian dollars. This is especially important to distinguish Australian dollars from other dollar currencies, such as US dollars or New Zealand dollars. The "A$" notation is not generally necessary when writing solely for an Australian audience.
Avoid non-Australian currency symbols: When referencing Australian dollars, avoid using non-Australian currency symbols. Instead, use the dollar symbol ($) or "A$" when necessary. This helps maintain clarity and accessibility, especially for users with screen readers.
Consistency is key: Regardless of the specific formatting guidelines you follow, the most important aspect is consistency. Ensure that you apply the chosen formatting consistently throughout your content to avoid confusion and maintain a professional appearance.
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Cents and decimals
The Australian dollar was introduced as a decimal currency on 14 February 1966, replacing the non-decimal Australian pound. The currency is subdivided into 100 cents. For amounts less than $1, you can write the price as a whole number of cents or as a decimal value.
When writing out prices in Australian dollars, you should always include the dollar symbol ($) before the amount. This is the standard format for prices in Australia, and it mirrors the style used in the USA. For example, a price of $49.50 would be written with the dollar sign before the number, with no spaces.
If you are writing for an international audience, it is recommended to use 'A$' to distinguish the Australian dollar from other dollar-denominated currencies. This is especially important if there is a chance of confusion with other currencies, such as the US dollar. However, for print publications intended for Australian audiences, it is acceptable to use the '$' symbol alone.
When writing amounts less than $1, you have two options. You can either use a whole number of cents with a 'c' after the numerals, or you can express the amount as a decimal value. For example, 50 cents can be written as either "50c" or "$0.50". If the amount is less than 10 cents, use a zero before the number of cents, such as "05c" or "$0.05". For decimal values, always use two digits after the decimal point.
It is important to note that the use of non-Australian currency symbols should be avoided when possible, as they may be inaccessible to users with screen readers. Instead, use the 3-letter International Bank Account Number (IBAN) currency codes, such as "USD" for US dollars or "EUR" for euros.
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International context
The Australian dollar is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. It is subdivided into 100 cents and its symbol, the dollar sign ($), precedes the amount.
In 1966, the Australian dollar was introduced as a decimal currency, replacing the non-decimal Australian pound. The $ symbol was intended to have two strokes, but the version with one stroke has also always been acceptable. The Australian dollar was floated in 1983, with the exchange rate reflecting the balance of payments as well as supply and demand on international money markets. Australia has a floating exchange rate, which means that movements in the Australian dollar exchange rate are determined by the demand for, and supply of, Australian dollars in the foreign exchange market.
The Royal Australian Mint has an international reputation for producing quality numismatic coins. It has issued commemorative 50-cent coins and designs featured on the circulating two-dollar, one-dollar, and 20-cent coins. In 2011, the Central Bank of Russia announced that it would begin keeping Australian dollar reserves. As of 2024, the Australian dollar was the sixth most-held reserve currency in global reserves.
The Australian dollar is bought and sold to facilitate the international trade of goods and services. An increase in the demand for Australian exports also increases the demand for Australian dollars in the foreign exchange market, leading to an appreciation of the currency. Conversely, when Australians import goods and services, the supply of Australian dollars in the foreign exchange market increases, causing the currency to depreciate.
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Frequently asked questions
The Australian dollar is the official currency of Australia and is abbreviated as A$ or AU$ to distinguish it from other dollar-denominated currencies. The $ symbol always comes before the amount, e.g. A$50.
For amounts less than one Australian dollar, you can write it as a whole number of cents or as a decimal value. For example, 50 cents can be written as either 50c or A$0.50.
To indicate that you are referring to Australian dollars, use the abbreviation A$ or AU$ rather than just the $ symbol. This is especially important when writing for an international audience to avoid confusion with other dollar-denominated currencies.
