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The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie 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.
When Australia was part of the fixed-exchange sterling area, the exchange rate of the Australian dollar was fixed to the pound sterling at a rate of A$1 = 8 U.K. shillings (A$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
British currency became the official currency of the Australian colonies after 1825, with almost £100,000-worth of British coins being imported during 1824–25. The Holey dollar was no longer legal tender after 1829. The most notable Holey Dollar was the "Hannibal Head" a one of a kind coin that features the portrait of King Joseph I of Spain ...
5-sol French coin and silver coins – New France Spanish-American coins- unofficial; Playing cards – 1685-1760s, sometimes officially New France; 15 and a 30-deniers coin known as the mousquetaire – early 17th century New France
The notes of the Australian dollar were first issued by the Reserve Bank of Australia on 14 February 1966, when Australia changed to decimal currency and replaced the pound with the dollar. [1] This currency was a lot easier for calculating compared to the previous Australian pound worth 20 shillings or 240 pence.
For a trade with a time to expiry of v days, the expiry date is the day v days ahead of the horizon date (unless it is a weekend or 1 January, in which case the date is rolled forward to a weekday) and for a trade with time to expiry of x weeks, the expiry date is the day 7x days ahead of the horizon date (with the same conditions as above).
The Royal Australian Mint regularly releases collectable coins, one of the most famous of which is the 1980–1994 gold two-hundred-dollar coin series. [7] Australian collectable coins are all legal tender [ 8 ] and can be used directly as currency or converted to "normal" coinage at a bank.
The primary currency used for trade around the world, between Europe, Asia and the Americas had historically been the Spanish-American silver dollar, which created a global silver standard system from the 16th to 19th centuries, due to abundant silver supplies in Spanish America. [3] The U.S. dollar itself was derived from this coin.