Currency Rates for Australian Dollar
Bank Exchange Rates for Australia - AUD - Australian Dollar - $. The foreign exchange rates for Australia also known as the ISO code AUD or the Australian Dollar currency and as a symbol $. Send Money Transfer to Australia.
The Australian dollar symbol is sometimes prefaced with an A (A$) to differentiate it from other dollar currencies. One Australian dollar is comprised of 100 cents, but only 1 and two dollars can be found as coins singularly. The other subdivisions are notes in the form of $5, $10, $20, $50 and $100 and 5, 10, 20, 50 cent coins.
The Australian Dollar is the currency of Australia, Christmas Island, Norfolk Island, Cocos Island and also the states of Tuvalu, Nauru and Kiribati. It is abbreviated as $ or A$ or AU$, just to distinguish itself from the other dollar denominations. It can be further divided into 100 cents.
Prior to 1963, there were many suggestions made for the name of this currency. In 1963, Sir Robert Menzies, the PM named the currency as 'royal'. In Australian Reserve Bank, trial designs were designed and printed. Royal could be divided into 100 cents and the existing names i.e 10 cents = shilling, 20 cents = florin and 50 cents = crown would be retained. On 18th September, Harold Hold, The Treasurer, revised the name to 'dollar'.
In 1966, officially Australian dollar got its name and value (in 1931 Australian pounds got devaluated) The conversion rate was :
2 dollars = 1 Australian pounds
10 Australian shillings = 1 dollar
On 27th Sept, 2012, the Australian Reserve Bank ordered a project for up-gradation of their banknotes. On 21st Sept, 2016, the first latest banknotes were issued.
In 1966, denominations of 50, 20, 10, 5, 2 and 1 cents were introduced. 1984 witnessed the issuance of $1 coins and in 1988 $2 coins were introduced. In 1991, 1 cent and 2 cent coins were discontinued. In 2013, triangular coins were introduced in Australia. The $5 coin is silver and on it is a depiction of the Parliament House, as it looks from one of the courtyards. All coins have the portrait of Queen Elizabeth 2 and produced by Royal-Australian-Mint.
- 1st Series
In 1966 paper issues of AU$ were issued for the very first time. $20, $10, $2 and $1 were equivalent to the previous pound bank notes. In 1967, 1973 and 1984, the $5, $50 and the $100 notes were issued respectively.
- Polymer Series
1988 saw the issue of the first polymer bank notes by the Australian Reserve Bank. This was done as a commemoration of the bicentenary settlement of the Europeans in Australia. Currently all Australian notes are polymer made.
- New Polymer Series
From Sept 1, 2016, a new series of polymer notes were issued. In Sept 2017, new banknotes worth $10 would be circulated.
There are no other substitutes of the Australian Dollar and there are no restrictions as well.