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The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
National symbols of Australia are the official symbols used to represent Australia as a nation or the Commonwealth Government. Additionally, each state and territory has its own set of symbols . List of symbols
The Deakin government's Coinage Act 1909 [3] distinguished between "British coin" and "Australian coin", giving both status as legal tender of equal value. The Act gave the Treasurer the power to issue silver, bronze and nickel coins, with the dimensions, size, denominations, weight and fineness to be determined by proclamation of the Governor-General.
On 7 April 1963 the government announced that a system of decimal currency was to be introduced into Australia at the earliest practicable date, and gave February 1966, as the tentative change-over date. [15] On 14 February 1966, the Australian pound was replaced by the Australian dollar [16] with the conversion rate of A£1 = A$2.
The notes of the Australian dollar were first issued by the Reserve Bank of Australia on 14 February 1966, when Australia changed to decimal currency and replaced the pound with the dollar. [1] This currency was a lot easier for calculating compared to the previous Australian pound worth 20 shillings or 240 pence.
The Royal Australian Mint is the national mint of Australia, and the primary production facility for the country’s circulating coins. The mint is a Commonwealth Government entity operating within the portfolio of the Treasury , and is situated in the Australian capital city of Canberra , in the suburb of Deakin .
The 15.5 billion Australian coins carrying the queen’s image minted since Australia introduced decimal currency in 1966 will remain legal tender. She has appeared on Australian money since 1953.
The net government debt is gross government debt less its financial assets, which is often expressed as a percentage of Gross Domestic Product (GDP) or debt-to-GDP ratio. As of 31 August 2021 the total gross Australian government debt outstanding was A$834 billion, an increase of about A$273 billion from before 31 December 2019. [4] As at 11 ...