When you go to Australia you will have to deal with the Australian dollar, the local currency. AUD is abbreviated and it is the official currency of the Commonwealth of Australia so it includes not only the Australian continent but also its islands: the Norfolk, the McDonalds, the Heard, the Cocos Islands and the Christmas Islands but also the little Nauru, Tuvalo and Kiribati.
Before the existence of the Australian dollar the local currency was the British pound sterling (divided into 20 shillings and 12 pence each). The currency exchange was applied in 1966. Today the Australian dollar is divided into 100 cents. It comes after the US dollar, the euro, the yen and the British pound itself.
