Australian dollar in the context of Legal tender


Australian dollar in the context of Legal tender

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⭐ Core Definition: Australian dollar

The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu. In April 2022, it was the sixth most-traded currency in the foreign exchange market and as of Q1 2024 the sixth most-held reserve currency in global reserves.

The Australian dollar was introduced as a decimal currency on 14 February 1966 to replace the non-decimal Australian pound, with the conversion rate of two dollars to the pound (£A1 = A$2). It is subdivided into 100 cents. The $ symbol precedes the amount. On the introduction of the currency, the $ symbol was intended to have two strokes, but the version with one stroke has also always been acceptable.

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Australian dollar in the context of 2000 Summer Olympics

The 2000 Summer Olympics, officially the Games of the XXVII Olympiad, officially branded as Sydney 2000, and also known as the Games of the New Millennium, were an international multi-sport event held from 15 September to 1 October 2000 in Sydney, New South Wales, Australia. It marked the second time the Summer Olympics were held in Australia, and in the Southern Hemisphere, the first being in Melbourne, in 1956.

Teams from 199 countries participated in the 2000 Games, which were the first to feature at least 300 events in its official sports program. The Games were estimated to have cost A$6.6 billion. These were the final Olympic Games under the IOC presidency of Juan Antonio Samaranch before the arrival of his successor Jacques Rogge.

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Australian dollar in the context of Monetary union

A currency union (also known as monetary union) is an intergovernmental agreement that involves two or more states sharing the same currency. These states may not necessarily have any further integration (such as an economic and monetary union, which would have, in addition, a customs union and a single market).

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Australian dollar in the context of Free-floating currency

In macroeconomics and economic policy, a floating exchange rate (also known as a fluctuating or flexible exchange rate) is a type of exchange rate regime in which a currency's value is allowed to fluctuate in response to international events affecting exchange rates. A currency that uses a floating exchange rate is known as a floating currency. In contrast, a fixed currency is one where its value is specified in terms of material goods, another currency, or a group of other currencies. The idea of a fixed currency is to reduce currency fluctuations.

In the modern world, most of the world's currencies are floating, and include the majority of the most widely traded currencies: the United States dollar, the euro, the Japanese yen, the pound sterling, or the Australian dollar. However, even with floating currencies, central banks sometimes participate in markets to attempt to influence the value of floating exchange rates. The Canadian dollar has not seen interference by the Canadian national bank with its price since September 1998. The US dollar also sees very little change of its foreign reserves.

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Australian dollar in the context of Gladstone Region, Queensland

Gladstone Region is a local government area in Queensland, Australia. The council covers an area of 10,484 square kilometres (4,048 sq mi), and has an estimated operating budget of A$84 million.

In the 2021 census, the Gladstone Region had a population of 63,515 people.

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Australian dollar in the context of Dollar

Dollar is the name of more than 25 currencies. The United States dollar, named after the international currency known as the Spanish dollar, was established in 1792 and is the first so named that still survives. Others include the Australian dollar, Brunei dollar, Canadian dollar, Eastern Caribbean dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, Trinidad and Tobago dollar, and several others. The symbol for most of those currencies is the dollar sign $; the same symbol is used by many countries using peso currencies.

The name 'dollar' originates from the tolar which was the name of a 29-gram (1.0 oz) silver coin called the Joachimsthaler minted in 1519 in the western part of Bohemia (now the Czech Republic). The word thaler itself comes from the German word Thal, i.e. 'valley'.

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Australian dollar in the context of Currency substitution

Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency.

Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador. Some small economies, for whom it is impractical to maintain an independent currency, use the currencies of their larger neighbours; for example, Liechtenstein uses the Swiss franc.

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Australian dollar in the context of Australian pound

The pound (sign: £, £A for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol s or /–), each of 12 pence (denoted by the symbol d).

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Australian dollar in the context of 2010–2011 Queensland floods

A series of floods hit Queensland, Australia, beginning in December 2010. The floods forced the evacuation of thousands of people from towns and cities. At least 90 towns and over 200,000 people were affected. Damage initially was estimated at A$1 billion before it was raised to $2.38 billion. The estimated reduction in Australia's GDP is about A$30 billion. As of March 2012, there were 33 deaths attributed to the floods, with a further three people still missing.

The city of Toowoomba, in the Darling Downs, was hit by flash flooding after more than 160 millimetres (6.3 in) of rain fell in 36 hours to 10 January 2011; this event caused four deaths in a matter of hours.

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Australian dollar in the context of City of Moreton Bay

The City of Moreton Bay, known until July 2023 as the Moreton Bay Region, is a local government area in the north of Greater Brisbane in South East Queensland, Australia. Established in 2008, it replaced three established local government areas, the City of Redcliffe and the Shires of Pine Rivers and Caboolture.

With an estimated operating budget of A$391 million and a 2018 population of 459,585, Moreton Bay is the third most populous local government area in Australia behind the City of Brisbane and City of Gold Coast, both of which are also amalgamated entities.

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Australian dollar in the context of Toowoomba Region

The Toowoomba Region is a local government area (LGA) on the border of Darling Downs and South East Queensland regions of Queensland, Australia. Established in 2008, the LGA was preceded by several other local government authorities with histories extending back to the early 1900s and beyond.

In 2018–2019, it had a A$491 million budget, of which A$316 million is for service delivery and A$175.13 million capital (infrastructure) budget.

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Australian dollar in the context of Supreme Court of Western Australia

The Supreme Court of Western Australia is the highest state court in the Australian State of Western Australia. It has unlimited jurisdiction within the state in civil matters (although it usually only hears matters involving sums of A$750,000 or more), and hears the most serious criminal matters.

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Australian dollar in the context of Invasive species in Australia

Invasive species are a serious threat to endemic Australian species, and an ongoing cost to Australian agriculture. Numerous species arrived with European maritime exploration and colonisation of Australia and steadily since then. There is ongoing debate about the potential benefits and detriments of introduced species; some experts believe that certain species, particularly megafauna such as deer, equids, bovids, and camels, may be more beneficial to Australia's ecosystems than they are detrimental, acting as replacements for extinct Australian megafauna.

Management and the prevention of the introduction of new invasive species are key environmental and agricultural policy issues for the Australian federal and state governments. As of 2016 the management of weeds cost A$1.5 billion on weed control and a further $2.5 billion in lost agricultural production over the course of a year.

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Australian dollar in the context of Australian Survivor (season 5)

The fifth season of Australian Survivor, also known as Australian Survivor: Champions V Contenders, is a television series based on the international reality competition franchise Survivor. It is the third season to air on Network Ten and was hosted by Jonathan LaPaglia and filmed in the Fijian community of Savusavu.

The season featured 24 contestants divided into two tribes: "Champions", composed of twelve high-achievers who excelled in their fields, and "Contenders", composed of twelve everyday Australians. The season premiered on 1 August 2018, and concluded on 9 October 2018, where Shane Gould was named the winner over Sharn Coombes in a 5–4 vote, winning the grand prize of A$500,000 and title of Sole Survivor.

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Australian dollar in the context of Australian Survivor

Australian Survivor (occasionally branded and marketed simply as Survivor) is an Australian adventure reality game show based on the international Survivor format. Following the premise of other versions of the Survivor format, the show features a group of contestants, referred to as "castaways" as they are marooned in an isolated location. The castaways must provide food, water, fire, and shelter for themselves. The contestants compete in various challenges for rewards and immunity from elimination. The contestants are progressively eliminated from the game as they are voted out of the game by their fellow castaways. The final castaway remaining is awarded the title of "Sole Survivor" and the grand prize of A$500,000.

The series first aired in 2002 on the Nine Network, who as of 2023, also hold the first-run Australian broadcast rights to the American edition of Survivor. In 2006, a celebrity aired on the Seven Network. Both iterations of the series only lasted one season due to low ratings.

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