National currency of Australia

The national currency of Australia is the Australian dollar, which is represented by cash banknotes of different denominations: 5, 10, 20, 50 and 100. In addition to currency notes, there are also coins 1 and 2 in this country.

In addition to the main currency, there are also variable money - cents - which are in circulation and are represented by coins of different denominations. One dollar is equal to one hundred. The Australian dollar is a convertible currency that is circulating throughout the Australian Union, the Cocos Islands, the Christmas Islands, Norfolk and the states in the Pacific Kiribati, Nauru and Tuvalu.

A bit of history

Dollars in this country were put into circulation only in 1966. Prior to this, Australian pounds were used. And the first paper money was a copy of pound banknotes in 1, 2, 10 and 20 dollars.

The predecessor of the dollar was a duodecimal currency, and the modern currency of Australia is a decimal one. When a new monetary unit was introduced, Prime Minister Robert Menzies proposed to give it the name Royal, which was used for a short time. But because of the unpopularity of this option, it was decided to name the currency Dollar.

Plastic money in Australia

This is the first country that began to issue banknotes of polymer materials. Emissions using such new technologies are undoubtedly more expensive, but the life of such money is much longer. In addition, thanks to the developments, in addition to the standard means of protection that are used on paper banknotes, plastic money is protected even more reliably, undoubtedly, it is difficult to forge them. To date, there is no paper currency in the country, each denomination is made of special thin plastic.

The first money from the polymer was issued in 1988, by 1996 the paper money had been completely withdrawn from circulation. Today, the "paper" currency of Australia is money from thin flexible plastic. At registration transparent elements are used. Such banknotes are not afraid of moisture, they can also be washed by accident, and at sea with them to swim.

Currency of Australia today

Modern Australian dollars are decorated in different colors. Money notes depict political figures and other famous people, not only Australia itself. For example, on a banknote with a denomination of $ 5 there is a portrait of Elizabeth II - the Queen of Great Britain - and on a bill of 100 units flaunts a portrait of Australian singer Nelly Melba.

Currency Australian Dollar: value and exchange transactions with it

This is a fairly common currency in the world, so there should be no problems with the purchase. Tourists traveling to this country, perform currency transactions can:

• In all international airports of the country;
• In most hotels;
• In many exchange offices, which are located quite a dense network in Australia;
• In banks;
• Many ATMs support the currency exchange function.

Today, the Australian dollar to the ruble is 1 to 49 rubles. The transfer of money into the local currency using ATMs can be a costly process because of the presence of a sufficiently high commission fee. Therefore, it is recommended to perform such operations through a bank that is affiliated with the bank servicing the card, where the Australian dollar's rate to the ruble will be more profitable.

The cost of local currency and American counterpart varied at different times. For the entire period of this monetary unit, it reached its maximum value on March 14, 1984, then the Australian dollar to the US dollar was 1 to 96.68 US cents. Today 1 AUD to 1 USD - 1 to 0.7.

Features of ATMs

It is worth noting that ATMs, as well as exchange offices, with a dense network cover the territory of the country. They are located in the walls of buildings on the street, in the foyer of many shopping centers, bus stations and airports. But they have one feature. Most of the ATMs work only with denominations of $ 20 and $ 50, and you only have the option to withdraw the amounts combined from these banknotes.

The working schedule of banking institutions is presented by a five-day week - from Monday to Thursday. The banks open most often at 9.00, but close at 4pm, but on Friday the working day of these establishments is more for an hour. And in some large cities you can meet the bank's open doors and on the day off.