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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.
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.
A commonly used currency in the Americas is the United States dollar. [1] It is the world's largest reserve currency, [2] the resulting economic value of which benefits the U.S. at over $100 billion annually. [3] However, its position as a reserve currency damages American exporters because this increases the value of the United States dollar.
The Commonwealth of Australia is a Form 18 United States SEC registered entity [1] representing the nation of Australia for the purpose of issuing securities in the US market. Form 18 registrations are used only for foreign government registrations with the SEC and do not create a corporation.
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 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 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.
Australian Journal of International Affairs 70.6 (2016): 625-640. Siracusa, Joseph M., and David G. Coleman eds. Australia Looks to America: Australian–American Relations, since Pearl Harbor (Regina Books, 2006). Stuart, David. "American trade with the British colony of New South Wales, 1792–1816—A reappraisal." History Compass 18.12 ...