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{{Use Australian English|date=November 2022}}
{{Use dmy dates|date=November 2022}}
{{Infobox Currency
| currency_name_in_local = <!-- not needed if it is the same as the title and only the English variant provided -->
| name_abbr = A$, AU$
| image_1 = File:Australian 100 dollar note Obverse Fourth Series.jpeg
| image_width_1 = 175px
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|{{Flag|Kiribati}} (alongside [[Kiribati dollar]])<br />{{Flag|Nauru}}<br />{{Flag|Tuvalu}} (alongside [[Tuvaluan dollar]])}}
| unofficial_users =
| inflation_rate = 3.
| inflation_source_date = [https://www.rba.gov.au/inflation-overview.html Reserve Bank of Australia],
| pegged_by = [[Tuvaluan dollar]] and [[Kiribati dollar]] at par
| unit =
| subunit_ratio_1 = {{frac|1|100}}
| subunit_name_1 = [[Cent (currency)|cent]]
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| rarely_used_coins = [[Australian one-cent coin|1c]], [[Australian two-cent coin|2c]] (no longer in production)
| coin_article = Coins of the Australian dollar
| frequently_used_banknotes = [[Australian five-dollar note|$5]], [[Australian ten-dollar note|$10]], [[Australian twenty-dollar note|$20]], [[Australian fifty-dollar note|$50]], [[Australian one hundred-dollar note|$100]]
| rarely_used_banknotes = [[Australian one-dollar note|$1]], [[Australian two-dollar note|$2]] (no longer in production)
| banknote_article = Banknotes of the Australian dollar
| date_of_introduction =
| replaced_currency = [[Australian pound]]
| issuing_authority = [[Reserve Bank of Australia]]
| issuing_authority_website = {{URL|https://www.rba.gov.au/|rba.gov.au}}
| printer = [[Note Printing Australia]]
| printer_website = {{URL|https://www.noteprinting.com/|noteprinting.com}}
| mint = [[Royal Australian Mint]]
| mint_website = {{URL|https://www.ramint.gov.au/|ramint.gov.au}}
}}
The '''Australian dollar''' ([[currency sign|sign]]: '''$'''; [[ISO 4217|code]]: '''AUD'''; also abbreviated '''A$''' or sometimes '''AU$''' to distinguish it from other [[dollar|dollar-denominated currencies]];<ref>{{cite book|title=The Web content style guide: an essential reference for online writers ...|first1=Gerry|last1=McGovern|first2=Rob|last2=Norton|first3=Catherine|last3=O'Dowd|page=104|isbn=978-0-273-65605-0|publisher=[[FT Press]]|year=2002|url=https://books.google.com/books?id=wH3nimSNWSsC&pg=PA104|access-date=30 July 2010|archive-date=14 January 2023|archive-url=https://web.archive.org/web/20230114143544/https://books.google.com/books?id=wH3nimSNWSsC&pg=PA104|url-status=live}}</ref><ref>{{cite book |url = https://archive.org/details/canadianstylegui0000unse |title = The Canadian Style |publisher = Dundurn Press/[[Public Works and Government Services Canada|Translation Bureau]] |year=1997 |isbn=1-55002-276-8 |access-date=30 July 2010 }}</ref> and also referred to as the '''dollar''' or '''Aussie dollar''') is the official [[currency]] and [[Legal tender#Australia|legal tender]] of [[Australia]], including [[States and territories of Australia|all of its external territories]], and three independent sovereign [[Pacific Islands|Pacific Island states]]: [[Kiribati]], [[Nauru]], and [[Tuvalu]].<ref name=RBA>[https://www.legislation.gov.au/Details/C2015C00201 ''Reserve Bank Act 1959'', s.36(1)] {{Webarchive|url=https://web.archive.org/web/20190616172012/https://www.legislation.gov.au/Details/C2015C00201 |date=16 June 2019 }}, and [https://www.legislation.gov.au/Details/C2016C01090 ''Currency Act 1965'', s.16] {{Webarchive|url=https://web.archive.org/web/20190509005541/https://www.legislation.gov.au/Details/C2016C01090 |date=9 May 2019 }}</ref><ref name=nauru>{{cite web|url=http://naurugov.nr/about-nauru/visiting-nauru/currency.aspx|title=Currency|website=The Government of the Republic of Nauru|access-date=12 February 2023}}</ref><ref name=tuvalu>{{cite web|url=https://www.dfat.gov.au/geo/tuvalu/tuvalu-country-brief|title=Tuvalu country brief|website=Australian Government – Department of Foreign Affairs and Trade|access-date=12 February 2023}}</ref><ref name=kiribati>{{cite web|url=https://www.dfat.gov.au/geo/kiribati/kiribati-country-brief|title=Kiribati country brief|website=Australian Government – Department of Foreign Affairs and Trade|access-date=12 February 2023}}</ref> {{As of|2022|April|pre=In|bare=Yes}}, it was the [[Template:Most traded currencies|sixth most-traded currency]] in the [[foreign exchange market]]<ref>{{cite report |date=27 October 2022 |title=Triennial Central Bank Survey Foreign exchange turnover in April 2022 |url=https://www.bis.org/statistics/rpfx22_fx.pdf |url-status=live |archive-url=https://web.archive.org/web/20221027140118/https://www.bis.org/statistics/rpfx22_fx.pdf |archive-date=2022-10-27 |publisher=[[Bank for International Settlements]] |page=12}}</ref> and {{As of|2023|url=https://data.imf.org/?sk=e6a5f467-c14b-4aa8-9f6d-5a09ec4e62a4|pre=Q4|lc=y}} the seventh <!-- Citation lists first by the five IMF basket currencies and then by alphabetical, as the source explicitly points out, with the AUD amount clearly seventh--> most-held [[reserve currency]] in [[Foreign exchange reserves|global reserves]].<ref name="IMFCOFER">{{cite web |date=2024-03-09 |title=Currency Composition of Official Foreign Exchange Reserves |url=http://data.imf.org/COFER |access-date= |website=IMF Data |publisher=[[International Monetary Fund]]}}</ref>
The Australian dollar was introduced as a [[decimal currency]] on 14 February 1966 to replace the non-decimal [[Australian pound]], with the conversion rate of two dollars to the pound (A£1 = A$2). It is subdivided into 100 [[cent (currency)|cents]]. The $ symbol precedes the amount. On the introduction of the currency, the $ symbol was intended to have two strokes, but the version with one stroke has also always been acceptable.<ref>{{Cite book |title=Style Manual: For Authors and Printers of Australian Government Publications |publisher=Commonwealth Government Printing Office |year=1966 |edition=1st |location=Canberra |page=35 |language=en |oclc=10365249}}</ref><ref>{{cite book |last=Australian Decimal Currency Board |title=The decimal currency handbook : a comprehensive guide to Australia's new decimal currency and the changeover period - planned to begin in 1966 |date=1965 |page=19 |id=[[National Library of Australia|NLA]]: [https://catalogue.nla.gov.au/catalog/585292 585292]}}</ref>
{{As of|2023|pre=In|bare=yes}}, there were A$4.4
== Constitutional basis ==
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In February 1959, treasurer [[Harold Holt]] appointed a Decimal Currency Committee, chaired by [[Walter D. Scott]], to examine the merits of decimalisation. The committee reported in August 1960 in favour of decimalisation and proposed that a new currency be introduced (from February 1963), to be modelled on South Africa's replacement of the [[South African pound]] with the [[South African rand|rand]] (worth 10 shillings or {{frac|2}} pound). The [[Menzies Government (1949–66)|Menzies government]] announced its support for decimalisation in July 1961, but delayed the process in order to give further consideration to the implementation process.<ref>{{cite news |url=https://www.abs.gov.au/ausstats/abs@.nsf/featurearticlesbytitle/9A953DE15F376525CA256F2A00073477?OpenDocument |title=Report of the 1959 Decimal Currency Committee |publisher=Australian Bureau of Statistics |year=1959 |access-date=17 October 2019 |archive-date=22 December 2019 |archive-url=https://web.archive.org/web/20191222144523/https://www.abs.gov.au/ausstats/abs@.nsf/featurearticlesbytitle/9A953DE15F376525CA256F2A00073477?OpenDocument |url-status=live }}</ref> In April 1963, Holt announced that a decimal currency was scheduled to be introduced in February 1966, with a base unit equal to 10 shillings, and that a Decimal Currency Board would be established to oversee the transition process.<ref name=new/>
A public consultation process was held in which over 1,000 names were suggested for the new currency. This was reduced to a shortlist of seven names: austral, crown, dollar, pound, regal, tasman and royal.<ref>{{Cite book |last=Curran |first=James |title=The unknown nation: Australia after empire |last2=Ward |first2=Stuart |date=2010 |publisher=Melbourne University Publishing |isbn=978-0-522-85645-3 |location=Carlton, Vic |page=94}}</ref> In June 1963, Holt announced that the new currency would be called the "royal". This met with widespread public disapproval, and three months later it was announced that it would instead be named the "dollar".<ref>{{cite news |url = https://www.moadoph.gov.au/blog/the-introduction-of-decimal-currency-how-we-avoided-nostrils-and-learned-to-love-the-bill/ |title = The Introduction of Decimal Currency: How We Avoided Nostrils and Learned to Love the Bill |publisher = Museum of Australian Democracy |access-date = 17 October 2019 |archive-date = 20 December 2019 |archive-url = https://web.archive.org/web/20191220113518/https://www.moadoph.gov.au/blog/the-introduction-of-decimal-currency-how-we-avoided-nostrils-and-learned-to-love-the-bill/ |url-status = live }}</ref>
The pound was replaced by the dollar on 14 February 1966<ref>{{cite web |title=Introducing the New Decimal Banknotes |url=http://museum.rba.gov.au/displays/rba-currency-reform/#introducing-the-new-decimal-banknotes |website=Reserve Bank of Australia Museum |publisher=[[Reserve Bank of Australia]] |access-date=31 December 2015 |archive-url=https://web.archive.org/web/20160427094349/http://museum.rba.gov.au/displays/rba-currency-reform/#introducing-the-new-decimal-banknotes |archive-date=27 April 2016 |url-status=dead }}</ref> with the conversion rate of A$2 = A£1. For example, a pre-decimal amount of nine pounds, sixteen shillings and sixpence (£9 16s 6d) became $19.65 in terms of dollars and cents. Since Australia was still part of the fixed-exchange [[sterling area]], the exchange rate was fixed to the [[pound sterling]] at a rate of A$1 = 8s sterling (or £1 stg = A$2.50, and in turn £1 stg = US$2.80). In 1967, Australia effectively left the sterling area when the pound sterling was devalued against the US dollar from US$2.80 to US$2.40, but the Australian dollar chose to retain its peg to the US dollar at A$1 = US$1.12 (hence appreciating in value versus sterling).
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=== Commemorative coins ===
{{See also|Australian commemorative coins}}
The [[Royal Australian Mint]] also has an international reputation for producing quality numismatic coins. It has first issued commemorative 50-cent coins in 1970, commemorating [[James Cook]]'s exploration along the east coast of the Australian continent, followed in 1977 by a coin for Queen Elizabeth II's [[Silver Jubilee of Elizabeth II|Silver Jubilee]], the wedding of [[Charles, Prince of Wales]] and [[Diana, Princess of Wales|Lady Diana Spencer]] in 1981, the [[Brisbane]] [[Commonwealth Games]] in 1982, and the [[Australian Bicentenary]] in 1988. Issues expanded into greater numbers in the 1990s and the 21st century, responding to collector demand. Commemorative designs have also been featured on the circulating two dollar, one dollar, and 20 cent coins.
In commemoration of the 40th anniversary of [[decimal currency]], the 2006 mint [[Proof coinage|proof]] and [[Coin grading|uncirculated]] sets included one- and two-cent coins. In early 2013, Australia's first triangular coin was introduced to mark the 25th anniversary of the opening of Parliament House. The silver $5 coin is 99.9% silver, and depicts Parliament House as viewed from one of its courtyards.<ref>{{Cite news |url=https://www.abc.net.au/news/2013-05-09/first-triangular-coin-celebrates-parliament-birthday/4679654 |title=Triangular coin celebrates Parliament House's birthday |work=[[ABC News (Australia)|ABC News]] |date=8 May 2013 |access-date=25 September 2022 |archive-url=https://web.archive.org/web/20130511002654/https://www.abc.net.au/news/2013-05-09/first-triangular-coin-celebrates-parliament-birthday/4679654 |archive-date=11 May 2013 |url-status=live}}</ref>
== Banknotes ==
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* The $100 note features world-renowned soprano [[Nellie Melba|Dame Nellie Melba]] (1861–1931), and the distinguished soldier, engineer and administrator [[John Monash|General Sir John Monash]] (1865–1931).<ref>{{Cite web |url=https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/hundred-dollar/index.html |title=$100 Banknote |publisher=Reserve Bank of Australia Banknotes |access-date=10 October 2021 |archive-date=10 October 2021 |archive-url=https://web.archive.org/web/20211010090612/https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/hundred-dollar/index.html |url-status=live}}</ref>
* The $50 note features Aboriginal writer and inventor [[David Unaipon]] (1872–1967), and Australia's first female parliamentarian, [[Edith Cowan]] (1861–1932).<ref>{{Cite web |url=https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/fifty-dollar/index.html |title=$50 Banknote |publisher=Reserve Bank of Australia Banknotes |access-date=10 October 2021 |archive-date=10 October 2021 |archive-url=https://web.archive.org/web/20211010090607/https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/fifty-dollar/index.html |url-status=live}}</ref>
* The $20 note features the founder of the world's first aerial medical service (the [[Royal Flying Doctor Service
* The $10 note features the poets [[Banjo
* The $5 note features [[Elizabeth II|Queen Elizabeth II]] and [[Parliament House, Canberra]], the national capital.<ref>{{Cite web |url=https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/five-dollar/index.html |title=$5 Banknote |publisher=Reserve Bank of Australia Banknotes |access-date=10 October 2021 |archive-date=10 October 2021 |archive-url=https://web.archive.org/web/20211010090607/https://www.banknotes.rba.gov.au/australias-banknotes/banknotes-in-circulation/five-dollar/index.html |url-status=live}}</ref>
A special centenary issue of the $5 note in 2001 featured [[Henry Parkes|Sir Henry Parkes]] and [[Catherine Helen Spence]]. In 2015–2016 there were petitions to feature [[Fred Hollows]] on the upgraded $5 note, but failed to push through when the new note was introduced on 1 September 2016.<ref>{{Cite web |title=Campaign to put Fred Hollows on Australian $5 note |url=http://www.stuff.co.nz/world/australia/76236396/campaign-to-put-fred-hollows-on-australian-5-note |publisher=[[Stuff (website)|Stuff]] |date=25 January 2016 |access-date=25 September 2022 |archive-url=https://web.archive.org/web/20160127094516/https://www.stuff.co.nz/world/australia/76236396/campaign-to-put-fred-hollows-on-australian-5-note |archive-date=27 January 2016 |url-status=live}}</ref><ref>{{Cite web |url=https://www.abc.net.au/news/2016-01-25/fred-hollows-on-five-dollar-bill-campaign/7111356 |title='Put Fred on a fiver': Call for Australian great to feature on banknote |last1=Vernon |first1=Jackson |last2=Dalzell |first2=Stephanie |date=25 January 2016 |publisher=ABC News |language=en-AU |access-date=25 August 2019 |archive-date=18 August 2020 |archive-url=https://web.archive.org/web/20200818070717/https://www.abc.net.au/news/2016-01-25/fred-hollows-on-five-dollar-bill-campaign/7111356 |url-status=live }}</ref><ref name="new 5" />
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The highest valuation of the Australian dollar relative to the U.S. dollar was during the period of the peg to the U.S. dollar. On 9 September 1973, the peg was adjusted to US$1.4875, the fluctuation limits being changed to US$1.485–US$1.490;<ref>{{cite book |title = World Currency Yearbook, 1984 |year=1985 |isbn=0-917645-00-6 |page=75 |editor-first = Philip P. |editor-last = Cowitt |publisher =International Currency Analysis }}</ref> on both 7 December 1973 and 10 December 1973, the noon buying rate in New York City for cable transfers payable in foreign currencies reached its highest point of 1.4885 U.S. dollars to one dollar.<ref>{{cite web |title = U.S. / Australia Foreign Exchange Rate |publisher = Federal Reserve Bank of St. Louis |url = http://research.stlouisfed.org/fred2/data/DEXUSAL.txt |access-date = 3 January 2020 |archive-date = 2 January 2016 |archive-url = https://web.archive.org/web/20160102151628/https://research.stlouisfed.org/fred2/data/DEXUSAL.txt |url-status = live }}</ref>
[[File:ABC Dollar Float.ogv|thumb|1983 [[Australian Broadcasting Corporation|ABC]] news report on the first day of trading with a floating
In December 1983, the [[Australian Labor Party|Australian Labor]] [[government of Australia|government]] led by [[Prime Minister of Australia|Prime Minister]] [[Bob Hawke]] and [[Treasurer of Australia|Treasurer]] [[Paul Keating]] [[Floating exchange rate|floated]] the dollar, with the exchange rate reflecting the [[balance of payments]] as well as supply and demand on international money markets. The decision was made on 8 December 1983 and announced on 9 December 1983.<ref>{{cite news |title = 20 years since Aussie dollar floated |url = http://www.abc.net.au/am/content/2003/s1005317.htm |access-date=14 October 2010 |publisher=[[Australian Broadcasting Corporation]] |date=8 December 2003 |archive-url=https://web.archive.org/web/20101011022103/http://www.abc.net.au/am/content/2003/s1005317.htm |archive-date=11 October 2010 |url-status=live}}</ref>
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On 15 October 2010, the dollar reached parity with the US dollar for the first time since becoming a freely traded currency, trading above US$1 for a few seconds.<ref>{{Cite news |title=Dollar hits parity vs US dollar |url=https://www.reuters.com/article/idUSN1518042820101015 |access-date=15 October 2010 |work=[[Reuters]] |date=15 October 2010 |archive-url=https://web.archive.org/web/20101018073348/https://www.reuters.com/article/idUSN1518042820101015 |archive-date=18 October 2010 |url-status=live}}</ref> The currency then traded above parity for a sustained period of several days in November, and fluctuated around that mark into 2011.<ref>{{cite news |title = Dollar hits new post-float high after US central bank move |url=http://www.theaustralian.com.au/business/markets/australian-dollar-hits-new-post-float-high-after-us-central-bank-move/story-e6frg91o-1225947591487 |newspaper=[[The Australian]] |access-date=25 January 2011 |first=Bradley |last=Davis |date=4 November 2010 |archive-url=https://web.archive.org/web/20110122115604/http://www.theaustralian.com.au/business/markets/australian-dollar-hits-new-post-float-high-after-us-central-bank-move/story-e6frg91o-1225947591487 |archive-date=22 January 2011 |url-status=live}}</ref> On 27 July 2011, the dollar hit a record high since floating, at $1.1080 against the US dollar.<ref>{{Cite news |url = http://www.rttnews.com/ArticleView.aspx?Id=1611446 |access-date = 2 May 2011 |title = AUD/USD Slides After Topping 1.10 Level – Westpac |archive-date = 14 January 2023 |archive-url = https://web.archive.org/web/20230114143247/https://www.rttnews.com/story.aspx?Id=1611446 |url-status = live }}</ref> Some commentators speculated that its high value that year was related to [[European debt crisis|Europe's sovereign debt crisis]], and Australia's strong ties with material importers in Asia and in particular [[China]].<ref>{{Cite web |url=http://www.skynews.com.au/businessnews/article.aspx?id=594335 |title=Sky News: Aussie dollar hits new highs |publisher=[[Sky News]] |date=28 March 2011 |access-date=19 April 2011 |archive-url=https://web.archive.org/web/20110728022926/http://www.skynews.com.au/businessnews/article.aspx?id=594335 |archive-date=28 July 2011 |url-status=dead}}</ref>
Since the end of China's large-scale purchases of Australian commodities in 2013, however, the Australian dollar's value versus the US dollar has since plunged to $0.88 as of end-2013, and to as low as $0.57 in March 2020. As of
=== Determinants of value ===
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== See also ==
* [[Banking in Australia]]
* [[Brass razoo]]
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* [https://www.bis-ans-ende-der-welt.net/Australien-B-En.htm The banknotes of Australia] {{in lang|en|de}}
{{N-start}}
{{N-before|currency=[[Australian pound]]|reason=[[decimalisation]]|ratio=2 dollars = 1 pound}}
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{{N-after|currency=[[Solomon Islands dollar]]|reason=currency independence|ratio=at par}}
{{N-end}}
{{Australian currency}}
{{Dollar}}
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{{Australia topics}}
{{Economy of Australia}}
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[[Category:Economy of Australia|Dollar, Australian]]
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