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LOCAL CURRENCY IN AUSTRALIA

Would you like to know name of the currency in Australia? The local money in Australia is called Dollar.

The Australian Dollar is issued and managed by the Reserve Bank of Australia. To find out the current currency exchange rates for Dollar to other major currencies of the world, click on foreign currency rates.

Australian Currency Information
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The currency used in Australia is called as the Dollar. This currency is denoted with the currency sign $, A$ or AUD and the ISO 4217 Code for the Australian Dollar is AUD. The Dollar, is the official currency of the Australia . It is divided into 100 smaller units called cent.

The constitution of Australia provides that the Australia government shall have the power to print the Australian Dollar and cent coins to be used as a legal tender in Australia. The Australian Dollar bank notes and Cent coins are both designated as "legal tender" in payment of debts.

The Australian Dollar bill uses the decimal system, consisting of 100 equal units.

The symbol $, A$ or AUD, usually written before the numerical amount, is used for the Australian Dollar.

Currently printed bank notes denominations are $5, $10, $20, $50, $100 and the coins are minted in the denominations of 5c, 10c, 20c, 50c , $1, $2 .

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The Effect of Balance of Trade and Investment on the Value of Australian Dollar
Financial analysts regularly cite the balance of trade and investment in Australia as the most important influence on the value of the Dollar. The difference between what the Australia exports and imports in terms of goods and services to and from other countries can be obtained from a balance of trade statement.

The balance of investment on the other hand represents the difference in exports and imports of capital. If exports from Dollar exceed imports from other countries, in either the balance of trade or balance of investments, it is called a surplus. The term deficit is used when the imports into Dollar exceed exports to other countries. The points below go into detail to explain on how the balance of trade and balance of investments affect the Australian Dollar.
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