In the foreign exchange market, the Australian dollar is currently the fifth largest currency in the world, accounting for 6% of the total trading volume, second only to the US dollar, the euro, the Japanese yen and the British pound. In 20 10, the Australian dollar officially replaced the Swiss franc as the fifth largest currency in the world.

Currency history

1On September 25th, 974, Australia re-implemented the effective exchange rate system. The Australian dollar was no longer linked to the US dollar, but linked to a basket of 20 currencies of Australia's major trading partners, and a managed floating exchange rate system was implemented. 1976165438+1On October 29th, the effective exchange rate of the Australian dollar depreciated 17.5%.

1983 65438+February 12. Australia abolished the floating exchange rate of the Australian dollar pegged to a basket of currencies and implemented a completely free floating. Since then, Australia has abolished all foreign exchange controls. The Australian dollar has become one of the important hard currency and investment tools in the international financial market.

Reference to the above content: Baidu Encyclopedia -AUD