Australian+Currency


 *  The Australian dollar is the currency for the nation, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru , and Tuvalu . After the 2006 merger of the Australian Stock Exchange and the Sydney Futures Exchange, the Australian Securities Exchange is now the ninth largest in the world.

Australia was the first country in the world to have a complete system of bank notes made from plastic (polymer). These notes provide much greater security against counterfeiting. They also last four times as long as conventional paper (fibrous) notes.

The innovative technology with which Australian bank notes are produced - developed entirely in Australia - offers artists brilliant scope for the creation of images that reflect the history and natural environment of Australia. At the same time, the polymer notes are cleaner than paper notes and easily recyclable. Australia’s currency comprises coins of 5, 10, 20 and 50 cent and one and two dollar denominations; and notes of 5, 10, 20, 50 and 100 dollar denominations. ||  || Many forms of currency were used in the Australian colonies after the arrival of the first European settlers in 1788. In the rough early conditions barter was necessary, and payment in commodities like rum sometimes replaced money in transactions. Some of the first official notes used in Australia were Police Fund Notes, issued by the Bank of New South Wales in 1816. After federation in 1901, when Australia became an independent nation, the federal government became responsible for the currency. The Australian Notes Act was passed in 1910. In 1913 the first series of Australian notes was issued, based on the old British system of 12 pence to a shilling, 20shillings to a pound.