The national currency of Australia is the Australian dollar, which is represented by banknotes of various denominations: 5, 10, 20, 50 and 100. In addition to banknotes, coins of 1 and 2 dollars are also present in this country.
In addition to the main currency, there are exchange money - cents - which are in circulation and are represented by coins of various denominations. One dollar is equal to one hundred cents. The Australian dollar is a convertible currency, is in circulation throughout the Australian Union, Cocos Islands, Christmas Islands, Norfolk and the Pacific Ocean States of Kiribati, Nauru and Tuvalu.
A bit of history
Dollars in this country were introduced only in 1966. Before that, Australian pounds were used. And the first paper money was a copy of pound banknotes of 1, 2, 10 and 20 dollars.
The forerunner of the dollar was the duodecimal currency, and Australia's modern currency was the decimal. When the new monetary unit was introduced , Prime Minister Robert Menzies proposed giving it the name the Royal, which has been used for a short time. But due to the unpopularity of this option, it was decided to call the currency Dollar.
Plastic money in Australia
This is the first country that began to produce banknotes from polymer materials. Emission using such new technologies is undoubtedly more expensive, but the service life of such money is much longer. In addition, thanks to the development, in addition to the standard security measures that are used on paper banknotes, plastic money is protected even more reliably, of course, it is quite difficult to fake. Today in the country there is no paper currency, each bill is made of special thin plastic.
The first money from polymer was issued in 1988, by 1996 paper money was completely withdrawn from circulation. Today, the "paper" currency of Australia is money from thin flexible plastic. When making use of transparent elements. Such banknotes are not afraid of moisture, they can be washed by accident, and swim in the sea with them.
Australian currency today
Modern Australian dollars are decorated in various colors. Banknotes depict politicians and other famous people, and not only Australia itself. For example, on a banknote of $ 5 there is a portrait of Elizabeth II - the Queen of Great Britain - and on a banknote of 100 units is a portrait of Australian singer Nelly Melba.
Australian dollar currency: value and exchange operations with it
This is a fairly common currency in the world, so there should not be a problem with the purchase. Tourists traveling to this country can perform currency transactions :
- at all international airports of the country;
- in most hotels;
- in many exchange offices that are located fairly dense network in Australia;
- in banks;
- many ATMs support the currency exchange function.
Today, the Australian dollar against the ruble is 1 to 49 rubles. Transferring money into local currency using ATMs can be a costly process due to the presence of a rather high fee. Therefore, it is recommended to perform such operations through a bank that is affiliated with a bank servicing the card, where the Australian dollar to ruble exchange rate will be more profitable.
The cost of local currency and the American counterpart at different times varied. Over the entire period of the currency, it reached its maximum value on March 14, 1984, while the Australian dollar against the US dollar was 1 in 96.68 US cents. Today 1 AUD to 1 USD - 1 to 0.7.
ATM Features
It is worth noting that ATMs, like exchange offices, cover the territory of the country with a dense network. They are located in the walls of buildings on the street, in the lobby of many shopping centers, at bus stations and airports. But they have one feature. Most of the ATMs only work with banknotes in denominations of $ 20 and $ 50 and you can only withdraw the amounts combined from these banknotes.
The work schedule of banking institutions is presented by a five-day week - from Monday to Thursday. Banks open most often at 9.00, and close at 16.00, but on Friday the working day of these establishments is more by an hour. And in some large cities you can find open doors of the bank on the day off.