Australian currency guide: How to quickly understand and use the Australian dollar

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Australia's official currency is the Australian Dollar (AUD, symbol $), which has become the fifth most traded currency in the world since its introduction in 1966. For immigrants, students or tourists who have just arrived in Australia, being familiar with Australian dollar notes and coins is the basis of daily life and business transactions.

The basic composition of the Australian currency

Australia's currency system consists of two forms: banknotes and coins. Banknotes come in five denominations: $5, $10, $20, $50 and $100. Coins come in six denominations: 5 cents, 10 cents, 20 cents, 50 cents, $1 and $2.

Design and features of banknotes

Australian banknotes are made of polymer, which makes them more durable and difficult to counterfeit. Each denomination has a unique colour and design, for example:
- $5: Light pink, with Queen Elizabeth II on the front and the Houses of Parliament on the back.
- $10: Blue, with poet Banjo Paterson on the front and Dame Mary Gilmore on the back.
- $20: Red, with philanthropist Mary Reibey on the front and aviator John Flynn on the back.
- $50: Yellow, with Aboriginal leader David Unaipon on the front and MP Edith Cowan on the back.
- $100: Green, with singer Dame Nellie Melba on the front and General Sir John Monash on the back.

Coin design and features

Australian coins are produced by the Royal Australian Mint and each coin features a different Australian animal on the reverse, for example:
- 5 points: Echidna
- 10 points: Lyrebird
- 20 points: Platypus
- 50 points: Australian coat of arms
- 1 yuan: Kangaroo
- 2 yuan: Aboriginal elders

How to identify and exchange Australian dollars

In Australia, currency exchange is very convenient. Visitors can exchange Australian dollars at the airport, bank or special currency exchange points. In addition, most shops, restaurants and hotels accept credit and debit cards, but in some small shops or markets, cash is still the main payment method.

Using an ATM

ATMs are very common in Australia, with almost every bank, supermarket and shopping centre having an ATM. When you use an international credit or debit card to withdraw money from an ATM, you may be charged a fee.

Credit cards and mobile payments

Credit cards are widely used in Australia, with Visa and Mastercard being the most commonly used credit card brands. In addition, with the development of technology, mobile payments such as Apple Pay and Google Pay are becoming more and more popular.

Australian dollar exchange rate and economic impact

The exchange rate of the Australian dollar is affected by many factors, including Australia's economic indicators, international trade conditions, and the global economic situation. Understanding the exchange rate of the Australian dollar is very important for tourists and students planning to travel to Australia, because changes in the exchange rate will directly affect their travel and study costs.

Exchange rate inquiry

To find out the latest Australian dollar exchange rates, you can go through your bank, a currency exchange website or use a currency conversion app. These tools can help you understand the current exchange rate and calculate the amount you will be exchanging.

Economic impact

The strength of the Australian dollar has a direct impact on Australia's exports and tourism industry. A strong Australian dollar may make Australian goods more expensive in the international market, thus affecting exports; while a weak Australian dollar may attract more international tourists and promote the development of the tourism industry.

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