Damon Mcknight
Australia's currency is the Australian dollar (AUD), which is subdivided into 100 cents. The Australian dollar comes in polymer (plastic) notes of $5, $10, $20, $50, and $100, and coins in denominations of 5, 10, 20, and 50 cents, as well as $1 and $2. The Australian dollar was introduced on February 14, 1966, replacing the Australian pound at a conversion rate of two dollars to the pound. It is the legal tender in Australia and its external territories, and is also the official currency in Kiribati, Nauru, and Tuvalu.
| Characteristics | Values |
|---|---|
| Name of currency | Australian dollar (AUD) |
| Denominations of notes | $5, $10, $20, $50, $100 |
| Denominations of coins | 5, 10, 20, 50 cents, $1, $2 |
| Exchange rate (in May 2025) | $1 AUD = $0.67 USD |
| Credit cards accepted | MasterCard, Visa, Diners Club, American Express (limited acceptance) |
| Legal tender in external territories | Christmas Island, Cocos (Keeling) Islands, Norfolk Island, Kiribati, Nauru, Tuvalu |
| Former legal tender | Papua New Guinea (until 1975), Solomon Islands (until 1977) |
| Introduced | 14 February 1966 |
| Replaced | Australian pound |
| Conversion rate | A$2 = A£1 |
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What You'll Learn
The Australian dollar
Australia's currency is the Australian dollar (AUD). It was introduced as a decimal currency on 14 February 1966, replacing the Australian pound at a conversion rate of two dollars to the pound. The $ symbol precedes the amount, and the currency is subdivided into 100 cents.
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Exchange rates
Australia's currency is the Australian dollar, denoted by the symbol $ and the code AUD.
- AUD to USD (US Dollar): 1 AUD = 0.719154 USD
- AUD to EUR (Euro): 1 AUD = 0.806942 EUR
- AUD to GBP (British Pound): 1 AUD = 0.719154 GBP
- AUD to CAD (Canadian Dollar): The 30-day average exchange rate was 1.1207, with a high of 1.1316 and a low of 1.1088.
- AUD to NZD (New Zealand Dollar): 1 AUD = 1.07969 NZD
It is important to note that these rates are for informational purposes only and may not be the exact rates you receive when exchanging currency. Exchange rates can be influenced by a variety of economic and political factors, and it is always a good idea to check the current rate before conducting any transactions.
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Credit and debit cards
Australia's currency is the Australian dollar (AUD), which comes in polymer (plastic) notes of $5, $10, $20, $50, and $100. The coins are in 5, 10, 20, and 50-cent denominations, as well as $1 and $2 denominations.
When it comes to credit and debit cards in Australia, MasterCard and Visa are widely accepted. Diners Club cards are also accepted in many places, and American Express has limited acceptance. On the other hand, Discover credit cards are generally not accepted in Australia. It is always a good idea to contact the bank that issued your credit or debit card before travelling to understand the associated fees and charges. Credit card issuers commonly charge anywhere from 1% to 3% for purchases made in other countries. Debit cards typically have lower fees, but it is important to check all your options.
In Australia, you will rarely be charged extra by a store for using a credit card to make a purchase. However, it is a good idea to look for signs or ask the cashier before using your card. Some banks, such as NAB, offer Visa Debit cards that are linked to your transaction account, providing secure and convenient access to your funds wherever Visa is accepted, both locally and internationally.
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Coins
Australian coins are produced by the Royal Australian Mint, which opened in 1965. The Mint strikes all of Australia's circulating coins, as well as collectible coins. The Royal Australian Mint replaced the Melbourne Mint. Australia's first official mint was in Sydney, founded in 1855. The Perth Mint, established in 1899, is Australia's second premier mint and the country's official bullion-producing facility.
Australia's circulating currency consists of Australian dollars and cents. The Australian dollar replaced the Australian pound on 14 February 1966 as part of the decimalisation process. Australia used pounds, shillings, and pence until 1966. In 1910, Australian silver coins were introduced, including florins, shillings, sixpences, and threepences. Australian pennies and half-pennies were introduced into circulation the following year.
The Royal Australian Mint regularly releases collectible coins, one of the most famous of which is the 1980-1994 gold two-hundred-dollar coin series. Australian collectible coins are all legal tender and can be used directly as currency or converted to "normal" coinage at a bank. The Perth Mint also strikes collectible Australian coins, including proof variants. The Perth Mint is particularly known for its Lunar series, which honours the Chinese Zodiac legend. The Silver Kookaburra Series has been a mainstay of the Perth Mint since its debut in 1990.
Each Australian coin has a heads side and a tails side. The heads side has a picture of Queen Elizabeth II and the year it was made. Newer coins will have a picture of King Charles III. The tails side has a special Australian design and shows the amount that the coin is worth. Each coin is a different size, so they can be distinguished by touch. The 50-cent coin has 12 flat sides around its edge. It used to be a circle, but the Mint changed it because it was too similar to the 20-cent coin. There used to be one- and two-cent coins, but they were removed in 1992.
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Notes
Australia's currency is called the Australian dollar (AUD). It comes in polymer (plastic) notes of $5, $10, $20, $50 and $100.
In 1966, the Australian dollar was introduced as a decimal currency, replacing the Australian pound. The conversion rate was set at two dollars to the pound (A$2 = A£1). The $ symbol was intended to have two strokes, but the version with one stroke has always been acceptable.
In 1983, the Australian Labor government floated the dollar, allowing the exchange rate to reflect the balance of payments, as well as supply and demand on international money markets. The Australian dollar reached its highest value relative to the US dollar in December 1988, at $0.881. However, in April 2001, it fell to its lowest value, reaching 47.75 US cents.
In 2023, there were approximately A$101.3 billion in notes of Australian currency in circulation. The notes are made of polymer (plastic) and come in denominations of $5, $10, $20, $50, and $100. The Royal Australian Mint, located in Canberra, produces Australia's coins.
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Frequently asked questions
The Australian dollar (AUD).
The Australian dollar was introduced on 14 February 1966.
The Australian pound. The conversion rate was A$2 = A£1.
The Australian dollar comes in polymer (plastic) notes of $5, $10, $20, $50, and $100. Coins are in 5, 10, 20, and 50 cent denominations, as well as $1 and $2 denominations.
The $ symbol.
