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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.
Today all Australian notes are made of polymer. In April 1995, the design of the $5 notes was updated [ 11 ] to match the rest of the New Banknote Series, with additional slight changes in 1996. In 2001, a special commemorative ' Federation ' $5 note was produced, [ 12 ] but in 2002, the previous version's production commenced again.
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 ...
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$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217.The major currencies and their designation in the foreign exchange market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. dollar had in the United States at a given point in time.
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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.