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The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used informally to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.

The Australian dollar is currently the sixth-most-traded currency in the world[1] foreign exchange markets, (behind the US dollar, the euro, the yen, the pound sterling, and the swiss franc), accounting for over 6% of worldwide foreign-exchange transactions. The Australian dollar is popular with currency traders due to high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.

History
The dollar was introduced on 14 February 1966, replacing the Australian pound (distinct from the pound sterling since 1931) with a decimal currency.

A 20-royal note
A 10-royal note
The royal
In 1965, the Prime Minister, Robert Menzies, wished to name the currency the royal. Other proposed names included more exotic suggestions such as the austral, the oz, the boomer, the roo, the kanga, the emu, the digger, the kwid, the dinkum and the ming (Menzies' nickname). Due to Menzies' influence, the name royal was settled on, and trial designs were prepared and printed by the Reserve Bank of Australia. The choice of name for the currency proved unpopular, and it was later dropped in favour of the dollar.

The dollar
On 14 February 1966 the dollar was introduced at a rate of two dollars per pound, or ten shillings per dollar. At its introduction, it was pegged to sterling at a rate of 1 dollar = 8 shillings (2.50 dollars = 1 pound). In 1967, Australia effectively left the sterling area. When sterling devalued in 1967 against the U.S. dollar, the Australian dollar did not follow. It maintained its peg to the U.S. dollar at the same rate of 1 Australian dollar = 1.12 U.S. dollars.

Coins
Main article: Coins of the Australian dollar
In 1966, coins were introduced in denominations of 1, 2, 5, 10, 20 and 50 cents. The initial 50 cent coins contained high silver content and were withdrawn after a year due to the growing intrinsic value of the silver content. One-dollar coins were introduced in 1984, followed by two-dollar coins in 1988. The one- and two-cent coins were discontinued in 1991 and withdrawn from circulation.[4] Cash transactions are rounded to the nearest five cents. As with most public changes to currency systems, there has been a great amount of seignorage of the discontinued coins. All coins portray the head of state, Queen Elizabeth II, on the obverse, and are produced by the Royal Australian Mint.

Australia has regularly issued commemorative 50-cent coins. The first was in 1970, commemorating James Cook's exploration along the east coast of the Australian continent, followed in 1977 by a coin for Queen Elizabeth II's Silver Jubilee, the wedding of Charles and Diana in 1981, the Brisbane Commonwealth Games in 1982, and the Australian Bicentenary in 1988. Issues expanded into greater numbers in the 1990s and the 21st century, responding to collector demand. Australia has also made special issues of 20-cent and one-dollar coins.

The portrait of Queen Elizabeth II on the obverse side has gone through some changes. The first change was when the decimal system was introduced in 1966, the next facelift came in 1985, with a new crown and pose, and finally the most recent in 1999, showing a very well seasoned queen.

There are many five-dollar coins, of aluminium/bronze and bi-metal, and many silver and gold bullion coins in higher denominations. These are not normally used in payment, although they are legal tender.

Current Australian 5-, 10- and 20-cent coins are identical in size to the former Australian, New Zealand and British sixpenny, shilling and two shilling (florin) coins. In 1990, the UK replaced these coins with smaller versions, as did New Zealand in 2006 - at the same time discontinuing the five-cent coin. With a mass of 15.55 grams and a diameter of 31.51 mm, the Australian 50-cent coin is one of the largest sized coins used in the world today. Often, in circulation New Zealand 5-, 10- and 20-cent coins are often mistaken for Australian coins of the same value, due to their identical size and shape.

Banknotes
Main article: Banknotes of the Australian dollar

First series
The first paper issues of Australian dollars were issued in 1966. The one, two, ten and 20-dollar notes had exact equivalents in the former pound banknotes. The five-dollar note was issued in 1967, after the public had become familiar with decimal currency. There had not previously been an equivalent £2 10s note.

The one-dollar note was replaced by a coin in 1984, while the two-dollar note was replaced by a coin in 1988. The 50-dollar note was introduced in 1973 and the 100-dollar note in 1984.

Polymer series
In 1988, the Reserve Bank of Australia issued plastic, specifically polypropylene polymer banknotes (produced by Note Printing Australia), to commemorate the bicentenary of European settlement in Australia. All Australian notes are now made of polymer.

Notes are sized according to their denomination, for the visually impaired. They are the same height but of different lengths, in order of their value - $5 being the smallest, $100 the largest. Notes are also colour coded: $5 pink (there are two designs); $10 blue; $20 red; $50 yellow; and $100 green.

As a security feature, these notes contained a transparent window with an optically variable image of Captain James Cook. Every note also has a seven-pointed star which has only half the printing on each side as well as an image of the Australian Coat of Arms only visible when held up to the light. Australian banknotes were the first in the world to use such features.

Value of the Australian dollar
In 1966, when the Australian dollar was introduced, the International gold standard was still in operation. The dollar was at that time worth 980 mg of gold. As of February 2008 the dollar was worth 30 mg of gold.

On 8 December 1983, the Australian dollar was floated, allowing its value to fluctuate dependant on supply and demand on international money markets.

In the two decades following the floating of the Australian dollar, it's highest value relative to the US dollar was 96.68 US cents on 18 March 1984.The Australian dollar returned to 96 US cents in June 2008, and subsequently rose to a new post-float high of 98.49 US cents on 15 July 2008. The lowest value of the Australian dollar after it was floated was 47.75 US cents in April 2001
Exchange rate policies
Australia maintained a peg to the British pound at par then at 0.8 GBP (16 shillings sterling). This reflected its historical ties as well as a view about the stability in value of the British pound. From 1946 to 1971, Australia maintained a peg to the US dollar under the Bretton Woods system, but it was effectively pegged to sterling until 1967.

With the breakdown of the Bretton Woods system in 1971, Australia converted the mostly fixed peg to a moving peg against the US dollar. In September 1974, Australia moved to a peg against a basket of currencies called the trade weighted index (TWI) in an effort to reduce fluctuations associated with its peg to the US dollar.The peg to the TWI was changed to a moving peg in November 1976, causing the actual value of the peg to be periodically adjusted.

On 9 December 1983, the Australian Labor government led by Prime Minister Bob Hawke and Treasurer Paul Keating floated the Australian dollar. From that point, movements in the Australian dollar reflected the credits and debits in the balance of payments. The terms of trade does not determine the value of the dollar but it is a major component of the balance of payments.

For decades, Australia's balance of trade has depended primarily upon commodity exports such as minerals and agricultural products. This means the relative value of the dollar varies significantly during the business cycle, rallying during global booms, and falling when mineral prices slumped or when domestic spending overshadowed its export earnings outlook. This high volatility has conributed to the AUD's status as one of the most traded currencies in the world.
简介
  澳元是澳大利亚元(Australian Dollar)的简称,国际货币符号为AUD。
  澳元是流通于澳大利亚,基里巴斯,瑙鲁和图瓦卢等国家和地区的货币,由澳大利亚联邦储备银行发行,目前流通的有5、10、20、50、100元面额的纸币,另有5、10、20、50分和1、2澳元硬币,其进位是1澳元等于100分(cent)。1993年之前,还有1、2分硬币,但1993年之后不再流通。
  【注】*有些中国内地居民把澳门特别行政区的货币澳门币(Pataca)称作“澳元”,这是不准确的名称。详情请参考标准词条澳门币。
    历史
  1966年2月14日,澳大利亚发行了现行流通的货币澳大利亚元,以取代先前流通的旧市澳大利亚镑,当时并规定1澳元等于1.12美元,可兑换0.5澳镑。1971年8 月15日美元实行浮动汇率后,澳元于当月23日开始与英镑挂钩,12月22日美元贬值,澳大利亚宣布澳元的含金量不变(即0.99531克),对美元的官方汇率上升为 1.216美元,且波幅为2.25%。1972年6月23日,随着英镑区的解体,澳元享受的优惠也就宣告结束。
  1974年9月25日,澳大利亚重新实施有效汇率制,且澳元不再钉住美元,改为澳大利亚主要贸易伙伴国20种货币一揽子加权货币联系,并实行管理浮动汇率制度。1976年11月29日,澳元有效汇率贬值17.5%。
  1983年12月12日,澳大利亚取消了澳元盯住一揽子货币的浮动汇率,实行完全自由浮动,澳大利亚也从此取消所有外汇管制。目前,澳大利亚元已成为国际金融市场重要的硬通货和投资工具之一。
    材质
  澳大利亚新版塑料钞票,经过近30年的研制才投入使用,它是以聚酯材料代替纸张,耐磨,不易折断,不怕揉洗,使用周期长而且手感强烈,具有良好的防伪特性。自从1988年发行了世界上第一张塑料纪念钞以来,澳大利亚看到了塑钞的优势,其货币开始从纸钞全面转变为塑钞。从1992年开始,澳大利亚每年发行一枚塑钞来代替现行纸钞,到了1996年,所有塑料流通钞全部发行完毕,澳大利亚也由此成为了世界上第一个拥有一整套塑料流通钞的国家。
    现行钞票
  【$5】
  ◎正面:英国女王伊丽莎白二世,左边是桉树
  ◎背面:澳大利亚国会山,背景是国会山规划设计图
  【$10】
  ◎正面:澳大利亚诗人帕特森。背景是一群奔腾的野马和英勇的骑士——这是在帕特森的长诗《雪河男子汉》中描述的景象。在右边面额数字“10”和透明窗之间是帕特森的签名,其肖像下方的左右两边是帕特森在他的的手迹——《雪河男子汉》。在肖像与面额数字之间的白色树叶和文字象征帕特森的另外一个著名短诗《马蒂尔达》。
  ◎背面:澳大利亚诗人吉尔默女爵。背景是吉尔默女爵的作品中描述的场景——运送羊毛的马车队。背景是吉尔默女爵晚年肖像。在面额数字“10”和系列号之间是吉尔默的签名。最左边的手写体是吉尔默最著名的爱国诗篇《不许敌人抢夺我们的果实》
  【$20】
  ◎正面:澳大利亚女企业家莱蓓。背景中的帆船是莱蓓经营的“水星号。背景中的建筑是悉尼乔治大街上属于莱蓓的仓库。透明视窗中的图案是与航海息息相关的指南针图案。在面额数字“20”和透明视窗之间,是莱蓓的签名。
  ◎背面:澳大利亚“皇家飞行医生服务”创始人弗林牧师。背景中的飞机是用于飞行急救的维多利亚号急救飞机。飞机下方是内地乡村急救站使用的脚踏式发电机——给发报机供电。一幅标明数字的人体医学图——用于乡村急救站用发报机向飞行医生报告病人的伤害部位。右方是飞行医生巡回救治时使用的骆驼队。在飞机的上方是弗林的手写签名。
  【$50】
  ◎正面:澳大利亚土著人作家、发明家戴维·乌奈庞。右上方是他获得的剪羊毛工具发明专利。右下方是他的作品《澳大利亚土著人的传奇与传说》手迹。左边是一对土著人夫妇和一座位于乌奈庞家乡的教堂,乌奈庞曾经在这所教堂接受过教育。直到现在,这里一直都是澳大利亚土著人生活的地方。
  ◎背面:澳大利亚第一位女议员艾蒂丝·科恩。左边是西澳州首府佩斯市议会大厦,科恩曾于1920年在此担当澳大利亚历史上的第一位女议员。右方是科恩为了争取妇女和儿童的权益在演讲,在她的背后是一位监护人和她收养的四个孩子。
  【$100】
  ◎正面:澳大利亚女高音歌唱家梅尔巴,背景是悉尼女王剧院,左边是梅尔巴的签名。背景是梅尔巴于1902年在澳大利亚的巡回演出。
  ◎背面:澳大利亚杰出的军事将领莫纳什爵士。右侧是在一战中,攻打德军的兴登堡防线中的炮兵与骑兵。

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