What currency is AUD?

The AUD is most commonly exchanged in global markets with the British pound, and it is a fiat currency. It’s the fifth most traded currency in the world, behind the US dollar, the euro, the Japanese yen, and the pound sterling. The conversion factor for AUD has 5 significant digits.

What is the abbreviation for Australian dollar?

AUD is the abbreviation for the Australian dollar. In the international currency market, the Australian dollar is also known as the Aussie dollar or just the Aussie. The AUD replaced the Australian pound in 1966.

What currency does Australia use?

The Australian dollar is the currency of the Commonwealth of Australia and its independent islands. AUD is the code for the dollar. It’s symbolised by $, but can be written using A$ or AU$ to distinguish it from other dollar-based currencies. The AUD is most commonly exchanged in global markets with the British pound, and it is a fiat currency.

Why should you buy AUD vs USD?

In comparison, the U.S. and other countries that produce many finished goods tend to see inflation amid rising commodity prices. When this happens, their currencies weaken versus the AUD. This sometimes invites traders to take a long position in AUD relative to USD. The AUD also benefits from Australia’s typically conservative monetary policy.