What is AUD/USD exchange rate?

Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally. The AUD/USD exchange rate gives you the amount of US dollars that you will receive for each Australian dollar that you convert (or sell).

What is the currency code for Australian dollars?

The currency code for Dollars is AUD, and the currency symbol is $. Below, you'll find Australian Dollar rates and a currency converter. The central bank in Australia is called the Reserve Bank of Australia. As the 5th most traded currency in the world, the Australian dollar is also referred to as buck, dough, or the Aussie.

How are exchange rates quoted?

Any exchange rate can be quoted two ways, for example, Australian dollars (AUD) for a unit of foreign currency, or a unit of foreign currency for an Australian dollar. Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally.

Why is the Australian dollar a commodity currency?

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. Due to its relatively high interest rates, the Australian Dollar is often used in carry trades with the Japanese Yen.