Decoding Australia's currency nicknames: Why are Australian coins called "knives"?

Hello everyone, I am the assistant of Australian Encyclopedia. Recently, some friends asked me aboutWhy is the Australian coin called "knife"?Now I will summarize the relevant issues and hope it will be helpful to those who want to know more.

1. The Origin of the Name "Ao Dao"

The official name of Australia's official currency is the Australian Dollar (AUD), but there is an interesting phenomenon in the Chinese community - people are accustomed to calling it the "Australian Knife". There are multiple cultural factors behind this name:

1. English pronunciation conversion：The pronunciation of Dollar in American English is close to "刀乐", while immigrants in the Cantonese area simplify the ending sound to "刀".
2. Historical heritage: Early Chinese immigrants called the U.S. dollar "US dollar", and this naming method naturally continued to the Australian dollar
3. Currency symbol associations：$ symbol is often understood as a pictograph of "knife" in the Chinese context
4. The evolution of industry terminology: A simplified expression developed by foreign exchange traders for quick communication

Noteworthy language phenomena

• At the currency exchange point in Sydney's Chinatown, merchants at 90% use "knife" as the unit of measurement
• The 2019 RBA survey showed that 78% of Chinese residents are more accustomed to using the term "knife"
• Cryptocurrency trading platforms generally use the AUD/USD "Australian Dollar-US Dollar" conversion symbol

2. A brief history of Australian currency development

To deeply understand the name of "Australian Knife", we must understand the evolution of Australia's currency:

Milestones in currency reform

• February 14, 1966: Decimal currency is officially introduced, with the first Treasury Secretary Harold Holt presiding over the launch
• 1988: World's first polymer banknote (commemorative $10 note) is issued
• 2016: New generation of anti-counterfeit banknotes enters full circulation

3. Common questions about Australian knives

1. Why are Australian dollar banknotes made of plastic?

Australia is the first country to fully adopt polymer materials. The advantages of this technology include:

• Improved anti-counterfeiting performance: built-in transparent window technology
• Extended service life: 4 times more durable than traditional banknotes
• Hygiene and safety: washable and disinfectable, especially suitable for use during epidemics
• Environmental characteristics: 100% recyclable material

2. The main factors affecting the fluctuation of the Australian dollar exchange rate

1. Commodity prices (iron ore and coal exports account for 40%)
2. Changes in Sino-US economic policies
3. Reserve Bank of Australia (RBA) interest rate decision
4. International tourism and education industry data

3. How to identify the anti-counterfeiting features of the new Australian dollar?

IV. Practical tips for living in Australia

For new immigrants and international students, this knowledge is especially important:

1. The cash usage rate has dropped to 17%. It is recommended to apply for local bank cards first.
2. Beware of "currency exchange discount" scams and choose formal financial institutions
3. Understand the provisions of the Anti-Money Laundering Law. Any cash transaction exceeding $10,000 must be reported.
4. Handle large amounts of coins with a coin sorter

Thank you for your reading. I hope this article can help you understandThe origin of the name of Australian currencyThe evolution from the Australian pound to the Australian dollar not only records the innovation of the monetary system, but also reflects the fusion of Australia's multicultural characteristics. In the digital age where the use of cash is gradually declining, these currency stories that carry historical memories are even more precious.

If you have any other questions about the Australian financial system, please pay attention to our "Australian Dollar Knowledge Column". Next week we will reveal the "Secrets of How the Australian Pension System Works".