Australian Dollar

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Australian Dollar

The currency of Australia. It was introduced in 1966, replacing the Australian pound. It was initially pegged to the British pound, but later pegged to the U.S. dollar in 1967. It is now a floating currency and is one of the most widely traded currencies in the world. It is especially important in the South Pacific region, where a number of small nations either use the Australian Dollar or peg their currencies to it at a 1:1 ratio.
References in periodicals archive ?
Many students have small stashes at home which they are delighted to share--and after exploring Australian currency, asking them to bring in coins and notes often elicits a surprisingly large horde.
At the end of 2012, the exchange rate for the Australian currency remained high, despite the softening of record high commodity prices and some slippage in the favourable terms of trade.
Factors which have supported the Australian economy's outperformance are shifting under the feet of a foreign exchange market that remains enamored with the Australian currency.
of 99.9% of silver, each coin is issued as legal tender under the Australian Currency Act 1965.
However, Coles, an operator of general merchandise and department stores in addition to supermarkets, leads Woolworths, which also operates general merchandise stores, in total volume, with $32.26 billion (all dollar figures are in Australian currency) in sales last year compared to Woolworths' $27.93 billion.
During the first half of 2002 alone, the Australian currency gained 10 percent in relative value.
The Australian currency is already used in the Pacific nations of Kiribati, Nauru and Tuvalu.
dollar has grown stronger relative to the Canadian dollar, the Australian currency has actually weakened against the Canadian dollar.
Sir Henry Parkes, famous for being the father of the Australian Federation, has his face on the Australian currency but was born here in Coventry.
Examples of relativity hit you when you find yourself driving on the opposite side of the road, measuring distance in kilometers rather than miles, buying petrol instead of gas, paying for it by the liter rather than by the gallon, and finding out that the $1 you just spent in Australian currency translates to 57 cents American.
However, Australian expectations of inflation are likely to be over-stated, and thus the expected depreciation of the Australian currency derived from PPP is probably too large.
And there's a booming locations business: Oz crews are 40% cheaper than their American counterparts, Australian currency is weak against the U.S.

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