Established in 1966, the Australian dollar (AUD) is the official currency of Australia and several countries and territories, including Christmas Island, Cocos Islands, Norfolk Island, Nauru, Tuvalu, and Kiribati. The Australian dollar symbol is $, however, symbols such as A$ or AU$ are also used to distinguish the Australian dollar from other dollar-denominated currencies. The Australian dollar, also known as the ‘buck’, ‘dough’ and ‘aussie’, ranks as the fifth most traded currency in the world.
Australia's central bank, the Reserve Bank of Australia (RBA), is mainly responsible for monetary policy and producing the country’s money supply. It issues AUD notes in five denominations: $5, $10, $20, $50 and $100. The Australian dollar is divided into 100 cents, and its coins are issued in six denominations: 5c, 10c, 20c, 50c, $1 and $2.