What Type of Money Is Used in Australia?
Australia’s official currency is the Australian Dollar (AUD), symbolized as $ or sometimes written as A$ to distinguish it from other dollar currencies. It is subdivided into 100 cents and is the only legal tender accepted across the country.
Quick facts about the Australian Dollar
- Currency code: AUD
- Symbol: $ or A$
- Subunit: 1 dollar = 100 cents
- Coins: 5c, 10c, 20c, 50c, $1, and $2
- Banknotes: $5, $10, $20, $50, and $100
- Issued by: Reserve Bank of Australia (RBA)
A bit of history
The Australian dollar was introduced in 1966, replacing the Australian pound at a rate of two dollars to one pound. Australia was among the first countries to switch entirely to polymer banknotes, which are more durable and harder to counterfeit than paper notes. This innovation has since been adopted by many other countries.
Using money in Australia
Everyday payments
- Cash is still accepted, but most Australians prefer card and digital payments. Contactless “tap-and-go” is widely available, even for small purchases like coffee or public transport.
- Visa® and Mastercard® are the most commonly used cards, and mobile wallets like Apple Pay® and Google PayTM are also popular.
Visa is a registered trademark of Visa International Service Association and used under license.
Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
Apple and the Apple Wallet are trademarks of Apple Inc., registered in the U.S. and other countries.
Google Wallet is a trademark of Google LLC.
ATMs and banking
- ATMs are widely available in cities and towns, offering withdrawals in Australian dollars.
- International cardholders may face withdrawal fees, so checking with your bank before travelling is recommended.
Foreign currency
- Shops and businesses in Australia do not accept foreign cash like US dollars or euros. Travellers need to exchange their money into AUD at banks, airports, or exchange services.
Exchange rate and stability
The Australian dollar is one of the most traded currencies in the world, with its value often influenced by global commodity markets and trade. Exchange rates fluctuate daily, so checking the live rate before exchanging or sending money is important.
Key takeaways
- The official currency of Australia is the Australian Dollar (AUD).
- Coins range from 5 cents to $2: notes from $5 to $100.
- Foreign cash isn’t accepted, so AUD is essential for everyday spending.
- Card and digital payments are the norm, though cash is still used in some cases.
- Sending money through providers like Paysend ensures quick, secure transfers in Australian dollars.
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