The AUD (sign: $; code: AUD) is the currency of Australia, including its external territories: Christmas Island, Cocos Islands, and Norfolk Island. It is officially used as currency by three independent Pacific Island states: Kiribati, Nauru, and Tuvalu. It is legal tender in Australia. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. The $ symbol precedes the amount. It is subdivided into 100 cents.
The Australian dollar was introduced on 14 February 1966 to replace the pre-decimal Australian pound, with the conversion rate of two dollars to the pound.
In 2016, the Australian dollar was the fifth-most-traded currency in world foreign exchange markets, accounting for 6.9% of the world’s daily share. In the same year, there were A$71.12 billion in Australian currency in circulation, or A$2,932 per person in Australia, which includes cash reserves held by the banking system and cash in circulation in other countries or held as a foreign exchange reserve.