Australia is one such destination that is appealing to tourists all year long. This country has a lot to offer, from varied landscapes to calming beaches and majestic snowy mountains.
If you want to spend your holidays in Australia, start planning!
But before you start, you need to know what currency is used in Australia to manage your expenses and spend smartly. The national currency of Australia is the Australian Dollar, denoted as $, A$, AUD.
In 1902 a selected committee of the House of Representatives recommended adopting a decimal currency. This meant dividing the value of one Pound into ten florins and then one florin divided into 100 cents. As a result, in 1910, the Australian Pound was introduced, at par with the British Pound Sterling, which is A£1 = UK£1. This currency continued to circulate till 1931, after which its value was reduced to A£1 = UK£0.8.
A few years later, in 1937, the Banking Royal Commission again suggested a decimal system for coinage. However, this time it divided the value of one Australian Pound into 1000 parts.
After almost three more decades, on 14 February 1966, the Australian Pound was replaced by the Australian Dollar, its present currency.
This conversion did not happen overnight. Those in charge had quite a long debate on what to name their new currency. Initially, some suggested "royal" as the new name, but the public strongly disapproved of it. Later after considerable pondering, it was announced that the name of Australia's new currency would be "Dollar".
The first series of banknotes of Australian Dollars were issued in 1996. Interestingly in the first set, $5 notes were not issued, and the set consisted only of $1, $2, $10, and $20. The $5 was introduced in the next year, followed by $50 in 1973 and $100 in 1984.
Today, the Australian Dollar comes in denominations of $5, $10, $20, $50, and $100 notes. And the coins come in 5, 10, 20, and 50 cents, along with one and two dollar denominations.
The Australian Dollar is the official currency of many countries. Apart from Australia, this list includes Christmas Island, Cocos Keeling Island, Norfolk Island, Kiribati, Nauru, and Tuvalu.
One more interesting fact about this currency is that it falls among the top five most traded global currencies. So even if it is not accepted directly, you can easily sell Australian Dollar in many other countries, including the United Kingdom.
You can buy Australian Dollars in banks, bureau de change, international airports, and even in hotels. However, these processes are either tedious or expensive. You may come across several issues like:
Hidden charges on certain margins
Long and time-taking procedures
Fixed-rate of exchange for the day
Visit these places physically
Some might feel comfortable using these traditional processes; however, looking for online alternatives is the best possible way to go.
The Currency Club is one such organization that helps you choose a cheaper and more transparent model of buying currency. Even before you make a purchase, we let you know about the current interbank rate so that you make a sound choice.
The advantages of choosing The Currency Club are the following:
You get a transparent comparison with competitors.
The processes are not that complicated; thus, applying and getting the delivery is much quicker.
We do not charge any type of hidden fee on our transactions.
You get the most out of your money as our rates are highly competitive.
Begin your tour plan with a proper budget; in this way, you will know how much travel money you need.
Wondering what the cost of the basic amenities in Denmark is?
Taxi: Taking public transport while travelling is the best way to save money. It costs only A$ 2, and if you take a taxi, it will cost A$ 15- A$ 25.
Meal: You can also save up while eating out. It generally costs around A$ 20- A$ 30 at most restaurants.
Hotel: Some prefer to stay in boutique hotels, costing around A$ 250. However, you can find hotels with a starting tariff of A$ 10- A$30.
Yes, you can use ATMs in Australia as a tourist. The ATMs there accept Credit cards like American Express, Bankcard, Diners Club, MasterCard, Visa, UnionPay, and JCB. While MasterCard and Visa can be used everywhere, Diners Club and American Express can be used in hypermarkets, departmental stores, etc.
Summary
As traveller's cheques are not accepted everywhere, buying some Australian dollars beforehand is better. So since now, you know all the necessary details about what currency is used in Australia, buy your travel money from The Currency Club. It is easier and quicker than the traditional methods. At the end of your trip, if you find some of the cash is unused, you can sell them back to Currency Club.
We have made every effort to ensure that the information published here is correct and accurate, however you should check and confirm the latest exchange rates with The Currency Club directly prior to making a decision. The information published is general and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available
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