One Dollar Two Dollar Currency Australia one-dollar note

Description

One Dollar Two Dollar Currency Australia one-dollar note
reserve bank
The
Australian dollar
(
sign
:
$
;
code
:
AUD
) is the
currency
of
Australia
, including its external territories:
Christmas Island
,
Cocos (Keeling) Islands
, and
Norfolk Island
. It is officially used as currency by three independent
Pacific Island states
:
Kiribati
,
Nauru
, and
Tuvalu
. It is
legal tender
in Australia.
[2]
Within Australia, it is almost always abbreviated with the
dollar sign
(
$
), with
A$
or
AU$
sometimes used to distinguish it from other
dollar
-denominated currencies.
[3]
[4]
The $ symbol precedes the amount. It is subdivided into 100
cents
.
The Australian dollar was introduced on 14 February 1966 to replace the pre-decimal
Australian pound
, with the conversion rate of A per = A£1. The Australian dollar was legal tender of
Papua New Guinea
until 31 December 1975, when the
Papua New Guinean kina
became sole legal tender, and of the
Solomon Islands
until 1977, when the
Solomon Islands dollar
became sole legal tender.
In 2016, the Australian dollar was the fifth most traded currency in world
foreign exchange markets
, accounting for 6.9% of the world's daily share (down from 8.6% in 2013)
[5]
behind the
United States dollar
, the
euro
, the
Japanese yen
and the
pound sterling
. The Australian dollar is popular with currency traders, because of the comparatively high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention, the general stability of
Australia's economy
and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.
[6]