Australian currency, Australia

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Australian currency is known as the dollar, and the currency symbol is $. The dollar (called "the Australian dollar" and written AU$ or AUD when it is necessary to distinguish it from the currencies of other countries which call their currency the dollar too) is worth between 50 and 80 US cents. Its buying power in Australia is approximately equivalent to that of the US dollar in the US. No currency other than the dollar is commonly accepted for transactions in Australia.

The smallest unit of currency that prices will be quoted in is the cent, which is worth $0.01. However Australia no longer has physical units of currency that allow for bills to be paid to the nearest cent. If the total of a transaction is not a multiple of 5 cents you pay to the nearest five cents unless you are paying by credit or debit card, in which case you will pay the exact total.

The coin denominations are: 5c, 10c, 20c, 5c, $1 and $2. The note denominations are $5, $10, $20, $50 and $100. Australian notes are produced in plastic polymer rather than paper.

Cash dispensing Automatic Teller Machines (ATMs) are available in almost every Australian town. You are likely to pay a surcharge for international cash withdrawals, and holders of Australian debit cards will also pay a surcharge if they use an ATM that is not operated by their own bank. Most ATMs only dispense $20 and $50 notes so be wary if you are withdrawing money to use to pay a bus or taxi fare -- many drivers do not carry change for $50 notes.

Credit cards are widely accepted in Australia. Almost all large vendors such as supermarkets accept cards, as do many, but not all, small stores. Australian debit cards can also be used via a system known as EFTPOS.

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