The Author In Australia: Australian Dollars

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The Australian currency is the Australian Dollars represented as AUD. Compared to the Indian Rupee, 1 AUD trends at close to Rs 50/- (As of July 2016). As of 2011, the Australian dollar is the fifth most traded currency in the world, accounting for 7.6% of the world’s daily share. The currency is commonly referred to by foreign-exchange traders as the “Aussie dollar“.

The Australian currency is made up of dollars and cents, split across notes and coins.

Notes are available in the following denominations – $5, $10, $20, $50 and $100. Coins are available in 5c, 10c, 20c, 50c, $1 and $2. Thanks to their colour the $1 and $2 coins are often referred to as a gold coin.

In 1988, the Reserve Bank of Australia (RBA) started issuing a special plastic, specifically polypropylene polymer banknotes, to commemorate the bicentenary of European settlement in Australia. These notes contained a transparent “window” with a diffractive optically variable device (DOVD) image of Captain James Cook as a security feature. Australian banknotes were the first in the world to use such features. All current Australian banknotes also contain Microprinting for further security.