The Australian Dollar (AUD) is the official currency of Australia. The Australian Dollar is also used in a number of other countries, including Kiribati, Nauru, Tuvalu, and Christmas Island.
The Australian Dollar is divided into 100 cents. The Australian Dollar was first introduced in 1966, replacing the pre-decimal Australian Pound. It was historically pegged to Sterling, then the USD but is now free-floating. It is one of the most traded currencies in the world.
The Tuvalu Dollar and the Kiribati Dollar are pegged to AUD at par.
The Australian Dollar has seen a lot of volatility over the years but has generally trended upwards against other currencies.
The Australian Dollar is managed by the Reserve Bank of Australia (RBA) which monitors economic conditions in order to ensure that the Australian Dollar remains stable.
The ongoing cost of living crisis and domestic politics have dominated the agenda this week in the UK. The bunting from last weekend’s spectacular Platinum