What is the official currency of Australia?
Q: What is the official currency of Australia?
A: The official currency of Australia is the Australian dollar (AUD).
Q: When was the Australian dollar first introduced?
A: The Australian dollar was first introduced on February 14, 1966.
Q: Where else is the Australian dollar used besides Australia?
A: The Australian dollar is also used on Christmas Island, Cocos (Keeling) Islands, Norfolk Island, and the independent Pacific Islands of Kiribati, Nauru and Tuvalu.
Q: How is the Australian dollar represented symbolically?
A: In Australia the dollar symbol $ is usually used. The signs A$ or AU$ are often used to show that it is the Australian dollar. It is subdivided into 100 cents.
Q: What was its rank in 2011 among world currencies in terms of trading volume?
A: In 2011, the Australian Dollar was ranked fifth-most-traded currency in world trading volume.
Q: Why do people who trade in currencies prefer using AUD?
A: People who trade in currencies prefer using AUD because Australia has high interest rates and little government control on currency trading. Additionally, Australia's economy and political systems are seen to be stable.
