US dollars to Australian dollars Exchange Rate Convert USD AUD

Tuvalu and Kiribati additionally had their respective Tuvaluan and Kiribati dollars at par with the Australian dollar. They are legal tender in their respective countries but not in Australia. However, both countries no longer produce coinage since the 1990s and have never produced their own banknotes. As a result, the Australian dollar is the dominant currency in both countries.

In 1966, coins were introduced in denominations of 1 and 2 cents (bronze); 5, 10, and 20 cents (cupronickel; 75% copper, 25% nickel); and 50 cents (silver, then cupronickel). In everyday Australian parlance, these coins collectively are referred to as “gold coins”. 1 and 2 cent coins were discontinued in 1991 and withdrawn from circulation in 1992; since then cash transactions have been rounded to the nearest 5 cents. Australian notes and coins are also legal tender in the independent sovereign states of Kiribati, Nauru, and Tuvalu.[5][6][7] Nauru never had its own currency.

USD – US Dollar

Once you know that information, multiply the amount you have in USD by the current exchange rate. The resulting number will show you the amount of U.S. dollars that you have to spend on your trip. Early Currency in AustraliaWhen New South Wales was first established in 1788 the English Pound was the official currency, although Spanish Dollars were used quite regularly. In 1813, to try to discourage the illegal use of Spanish Dollars, the centers of the coins were cut out; they became known as ‘holey dollars’ and the cores were called ‘dumps’; this was Australia’s first form of coinage.

How to convert Australian dollars to US dollars

These revolutionary polymer notes are cleaner than paper notes, are more durable and easily recyclable. The Australian Dollar is currently the fifth-most-traded currency in world foreign exchange markets. It is also used in the Christmas Island, Cocos (Keeling) Islands and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu.

Using a currency conversion calculator is often the easiest way to get an estimate when you’re converting currency. Since exchange rates fluctuate on a daily basis, using a calculator can ensure your math is correct. This post has everything you need to know about converting AUD to USD, including where to secure the best exchange rates and how to avoid paying high fees on your conversion. You can send a variety of international currencies to multiple countries reliably, quickly, and safely, and at a rate cheaper than most banks. They add hidden markups to their exchange rates – charging you more without your knowledge.

1. These are the average exchange rates of these two currencies for the last 30 and 90 days.
2. Check live rates, send money securely, set rate alerts, receive notifications and more.
3. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate.
4. Once you know that information, multiply the amount you have in USD by the current exchange rate.
5. Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity.

Explanatory notes

Check live rates, send money securely, set rate alerts, receive notifications and more. Importance of the Australian DollarThe central bank in Australia is called the Reserve Bank of Australia. As the 5th most traded currency in the world, the Australian What to invest in with 10k dollar is also referred to as buck, dough, or the Aussie. The Australian Dollar is known as a commodity currency due to its substantial raw material exports. As a result, the AUD is affected by China and other Asian import markets.

The other option is forex bullion and cfd broker to do the calculation manually using a simple mathematical formula. However, in order to do this, you need to know the current exchange rate. Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict.

Current exchange rates

Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. Compare our rate and fee with our competitors and see the difference for yourself. Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable.

Although the value of the dollar fell significantly from this high towards the end of 2008, it gradually recovered in 2009 to 94 US cents. With a mass of 15.55 grams (0.549 oz) and a diameter of 31.51 millimetres (1+1⁄4 in), the Australian 50-cent coin is one of the largest coins used in the world today. Calculating the conversion of Australian dollars to USD is fairly simple. Live tracking and notifications + flexible delivery and payment options. Since the end of China’s large-scale purchases of Australian commodities in 2013, however, the Australian dollar’s value versus the US dollar has since plunged to $0.88 as of end-2013, and to as low as $0.57 in March 2020.

USD US Dollar

As of 2024, it has traded at a range of $0.63 to $0.68. U.S. dollars may also be accepted outside of the U.S. including in Vietnam, Costa Rica, Peru and certain parts of Mexico. Wise is a Money Service Business registered with FinCen. In other states, the program is sponsored by Community Federal Savings Bank, to which we’re a service provider. Need to know when a currency hits a specific rate? The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.

These are the highest points the exchange rate has been at in the last 30 and 90-day periods. In the two decades that followed, its highest value relative to the US dollar was $0.881 in December 1988. The lowest ever value of the dollar after it was floated was 47.75 US cents in April 2001.[58] It returned to above 96 US cents in June 2008,[59] and reached 98.49 later that year.

On the reverse side was the ship Supply from the First Fleet, with a background of Sydney Cove, as well as a group of people to illustrate the diverse backgrounds from which Australia has evolved over 200 years. In 1937, a banking royal stan weinstein’s secrets for profiting in bull and bear markets commission, appointed by the Lyons government, recommended that Australia adopt “a system of decimal coinage … based upon the division of the Australian pound into 1000 parts”.[19][20] This recommendation was not accepted either. In 1902, a select committee of the House of Representatives, chaired by George Edwards, had recommended that Australia adopt a single, national decimal currency, with a pound divided into ten florins and each florin comprising 100 cents.[17] However, the recommendation was not acted upon. The U.S. dollar is the currency most used in international transactions.

This means the Australian dollar varies significantly during the business cycle, rallying during global booms as Australia exports raw materials, and falling during recessions as mineral prices slump or when domestic spending overshadows the export earnings outlook. This movement is in the opposite direction to other reserve currencies, which tend to be stronger during market slumps as traders move value from falling stocks into cash. Before Federation in 1901, the six colonies that comprised Australia had separate currencies, all of which closely replicated the British currency system, and were usually exchangeable with each other on a one-to-one basis. Hence Federation was not seen as urgently requiring a single, unified currency. For another 10 years, colonial banknotes and coins continued to be the main circulating currencies. In 2016, the Australian dollar was the fifth most traded currency in world foreign exchange markets, accounting for 6.9% of the world’s daily share (down from 8.6% in 2013)[64] behind the United States dollar, the euro, the Japanese yen and the pound sterling.

Due to its relatively high interest rates, the Australian Dollar is often used in carry trades with the Japanese Yen. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate. The Australian Dollar is the currency of Australia.