Australian dollar exchange rate – AUD/PLN

The first currencies in Australia appeared in the late 18th century. However, the island had no single means of payment and there were as many as 11 currencies in operation, including shillings or Spanish dollars. The Australian dollar came into circulation as Australia's official currency in 1966. It replaced the Australian pound, which had existed since 1909 and was pegged to the pound sterling.The issuance of AUD is controlled by the Reserve Bank of Australia (RBA), established in 1959. The start of this institution was a symbolic step towards independence from the United Kingdom. It now operates not only in Australia, but also in other countries in the Pacific Ocean: Kiribati, Nauru and Tuvalu. Initially, the Australian dollar exchange rate was pegged to the British pound and then to the US dollar, under the Bretton Woods system. Since 1983, the AUD exchange rate has become floating. It is worth mentioning that in the early 1990s Australia fell into recession, the value of the Australian dollar fell and prices rose. After several years of problems, in the early 2000s, the value of the AUD began to strengthen against the USD. The appearance of Australian banknotes has also changed over the years. In 1996, the production of banknotes made of polymer began, as an additional safeguard against the production of „counterfeits”. In addition, holographic images were implemented, including one in the shape of a swan.

1 Australian dollar is divided into 100 cents. In 2016, it was the fifth most exchanged currency in the world. In circulation, you will find coins in denominations of 5, 10, 20 and 50 cents, as well as $1 and $2. These coins are decorated on the reverse with national symbols of Australia, such as the kangaroo on the 1-dollar coin and the emu on the 50-cent coin. The 2-dollar coin depicts an Aborigine, or indigenous Australian. An image of Queen Elizabeth II can be seen on the obverse of each Australian coin. AUD banknotes can be found in denominations of 5, 10, 20, 50 and 100 AUD. On the fronts, we can see portraits of figures important to Australia's history, such as the previously mentioned Queen Elizabeth II on the 5 AUD banknote, journalist Banjo Paterson on the 10 AUD denomination or singer Nellie Melba on the 100 AUD banknote. The Australian dollar is one of the most widely used currencies in global foreign exchange reserves, alongside the US dollar, the euro, the British pound and the Japanese yen. Its stability and strong economy based on exports of raw materials such as iron ore, coal and gas attract investors from around the world, making the AUD an important player in financial markets. The AUD plays a key role in international trade, particularly in the Asia-Pacific region, making it one of the most significant currencies in that part of the world.