What is AUD/USD exchange rate?

Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally. The AUD/USD exchange rate gives you the amount of US dollars that you will receive for each Australian dollar that you convert (or sell).

What currency is used in Australia?

Our currency rankings show that the most popular Australian Dollar exchange rate is the AUD to USD rate. The currency code for Australian Dollars is AUD. The currency symbol is $. Our currency rankings show that the most popular British Pound exchange rate is the GBP to USD rate. The currency code for British Pounds is GBP.

How are exchange rates quoted?

Any exchange rate can be quoted two ways, for example, Australian dollars (AUD) for a unit of foreign currency, or a unit of foreign currency for an Australian dollar. Most exchange rates are quoted against the US dollar (USD), as it is the most traded currency globally.

Why do exchange rates matter to Australia's economy?

Exchange rates matter to Australia’s economy because of their influence on trade and financial flows between Australia and the rest of the world. The Reserve Bank does not target exchange rates, but it does take them into account when setting monetary policy.