The Australian dollar is the official currency of the states that make up the Australian Union. AUD is the currency of which country or countries? Among them, besides Australia, are Cocos Islands, Norfolk Islands and Christmas Islands. In addition, this currency is used in some independent countries of the Pacific region. These include Nauru, Tuvalu and Kiribati.
The popularity of the Australian currency in the world
The Australian dollar has a number of notations. Among them, the familiar $ symbol, as well as $ A, $ AU and AU $, are familiar to everyone. By the way, it will be noted that the official Australian currency is one of the ten most demanded world currencies. In this conditional ranking table, it is located in the honorable sixth place, second only to such common banknotes as the American dollar, euro, Japanese yen, British pound sterling and Swiss franc.
When wondering which AUD is the currency of which country, it is important to remember that one of the main features of the Australian currency is the material for the manufacture. So, unlike most world currency, the Australian dollar is not issued on paper, but on the finest plastic.
Australian Currency History
AUD - Australian currency since February 14, 1966. It replaced the previously used Australian pound and the duodecimal monetary system. The creation and implementation of the dollar was initiated by the Reserve Bank of Australia in 1960. For six years, the development of models and design of a new currency was carried out, while discussions in society and among specialists about the name of the new currency did not stop. The then Prime Minister of the Australian government, Robert Menzies, proposed the name "royal" (the royal). But this idea did not receive enough support among the Australian population. Given such public sentiment, it was decided to give the new currency the name "dollar". It should be noted that for the first time a banknote made of plastic was put into circulation in 1988. A curious fact: among professional traders, the Australian dollar in the jargon is affectionately referred to as “aussie”.
Banknotes of Australian Currency
For the first time, paper notes in denominations of one, two, ten and twenty dollars appeared in circulation in 1966. New banknotes equivalent in equivalent to the Australian pounds that went before. The five-dollar bill was put into circulation a year later, after the Australian society mastered a new decimal monetary system. In those years, many in the world had a question: "AUD is the currency of which country?"
In 1984, a one-dollar banknote was withdrawn from circulation and a coin of the same denomination was launched. A similar fate awaited the two-dollar bill. In 1973, fifty dollars appeared in circulation, and 11 years later a hundred-dollar bill was introduced. It should be noted that all notes of the Australian dollar have the same height, but different lengths.
Banknotes issued after 1988 are of high quality and long service life. They are made of special plastic. Their release was dedicated to the bicentennial of the settlement of the Australian continent by European immigrants.
By the way, it will be said that over time, the banknotes of this currency changed their appearance. Therefore, the question arises among many: "AUD is the currency of which country?" For example, the five-dollar bill of the Australian dollar has already changed its design three times. One of the options for such a banknote is made in pale pink and on the obverse there is an image of Queen Elizabeth II of Great Britain. But on the flip side you can see the new and old buildings of the Australian Parliament.
Finally
It should be noted that the purchase and sale of the Australian dollar account for one-twentieth of all world currency transactions. In addition, the dynamics of the Australian dollar is also positive. For 1 AUD today they give about 47 Russian rubles. This popularity of the currency is easy to explain. Firstly, Australia has a rather high interest rate, and secondly, in this country there is a high level of stability of both the political system and the economy. In addition, the Australian foreign exchange market is free and independent of government.