Australian Dollar

Overview

Economy

• Australia is a member of G20, APEC, OECD, Commonwealth, ANZUS, Quad.
• Main industries include: Mining, Agriculture, Tourism, Education services, Financial services, Manufacturing.
• Australia is part of the World Trade Organization.
• Imports are machinery, computer equipment, telecom equipment, crude oil, motor vehicles.
• Major exports include iron ore, coal, gold, natural gas, beef, aluminum, wheat.
• GDP: $1.55 trillion (2023 est.).
• GDP per capita: $59,934 (2023 est.).
• Unemployment rate: 3.7% (2023 est.).
• Inflation rate: 4.1% (2023 est.).
• Main trading partners: China, Japan, South Korea, India, United States, Singapore.
• Trade agreements: CPTPP, RCEP, Australia-US FTA, ChAFTA, KAFTA, Various bilateral agreements.

History

• Previous currencies used: Australian pound, British pound (colonial period).
• The Australian dollar was introduced on February 14, 1966, replacing the Australian pound. It was initially pegged to the British pound, then to the US dollar, and has been floating since 1983.
• 1966: AUD introduced, replacing Australian pound (2:1 ratio)
• 1967: Devaluation with British pound
• 1971: Switched from pound peg to USD peg
• 1976: Trade-weighted index peg introduced
• 1983: Float of the Australian dollar
• 1988: Note printing technology introduced
• 1996: Polymer banknotes fully implemented
• Exchange rate peg: GBP (1966-1971).
• Exchange rate peg: USD (1971-1976).
• Exchange rate peg: Trade-weighted basket (1976-1983).
• Exchange rate peg: Free floating (1983-present).

General Information

• ISO 4217 Code: AUD
• Symbols: AUD/$
• Currency Subunits: 100 cents
• Central Bank: Reserve Bank of Australia
• Monetary Policy: Inflation targeting with 2-3% target range. Focus on price stability, full employment, and economic prosperity of the Australian people.
• Bills: 5 AUD, 10 AUD, 20 AUD, 50 AUD, 100 AUD
• Coins: 5 cents, 10 cents, 20 cents, 50 cents, 1 dollar, 2 dollars
• USD Exchange Rate: Variable (approximately 0.65-0.75 AUD per USD)
• Pegged To: None (Floating)
• Capital: Canberra
• Population: 26,141,369 (2023 est.)
• Area: 7,692,024 km²
• Languages: English (official), Mandarin, Arabic, Cantonese, Vietnamese, Italian, Greek
• Time Zones: UTC+8 to UTC+11 (multiple zones across continent)
• Government Type: Federal parliamentary democracy and constitutional monarchy
• Head of Government: Prime Minister (head of government), Governor-General (representing British Crown)
• Independence: January 1, 1901 (federation), statute of Westminster 1942
• Ethnic Groups: English 33%, Australian 29.9%, Irish 9.5%, Scottish 8.6%, Chinese 5.5%, Italian 4.4%, German 4%, Indian 3.1%, Other 2%
• Religions: Protestant 23.1%, Roman Catholic 22.6%, Other Christian 4.2%, Muslim 2.6%, Buddhist 2.4%, Orthodox 2.3%, Hindu 1.9%, Other 8.7%, None 30.1%, Unspecified 2.1%
• Literacy Rate: 99% (2003 est.)
• Transport: Extensive road networks, domestic aviation, major ports (Sydney, Melbourne), limited passenger rail, urban transit systems
• Communications: Advanced telecommunications, 89% internet penetration, nationwide 5G rollout
• Energy: Coal 54%, Natural gas 20%, Renewables 24% (growing rapidly), Nuclear 0%
• Countries Using This Currency: Australia
• Data Sources: Central Bank: Reserve Bank of Australia (rba.gov.au), Economic Data: Australian Bureau of Statistics, Treasury Australia, Trade Data: Australian Border Force, Department of Foreign Affairs and Trade, Demographic Data: Australian Bureau of Statistics, Geographic Data: Geoscience Australia, Historical Data: Reserve Bank of Australia archives
• Last Updated: 2025