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Exchange rates last updated Tuesday, 22 May 2018 11:38:33 AM EDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online sell rate will be used for conversions from US Dollars to a foreign currency.
The latest on USD to AUD exchange rates
The lowdown on the Australian dollar
The fifth most traded currency in the world, the Australian dollar is right up there among the world’s biggest players. Sometimes written as A$ to distinguish it from all the other dollar currencies out there (and there’s quite a few!), the Australian dollar is known to its friends as the Aussie.
Up until February of 1966 the Aussie was actually called the Australian pound instead, in recognition of its British roots. In 1966 when decimalization came in, a ton of original and quirky names were suggested for the currency’s new identity, from the austral to the oz, the boomer to the emu, and even the roo to the kanga. In the end though, simplicity prevailed and the new name was decided as the Australian dollar.
If you’re the guilty owner of crumpled dollar bills, you’ll love the Australian bank notes. Made from plastic (polymer), Australia’s bank notes produce the greatest security against counterfeiting, but the best part is that this means they’re clean, durable and waterproof – no more disasters with notes in the washer!
A look back at US dollar to Australian dollar rates
Back in 1966 when the Australian dollar was first introduced, it was actually fixed against the British pound at an equivalent value of one gram of gold. The peg was adjusted to US dollars on September 9 1973 and set at A$1 to US$1.4875.
The Australian dollar was floated on December 12 1983, which meant that its value could now fluctuate based on international money markets and supply and demand.
Record highs and lows against the US dollar
Over the next two decades, the Australian dollar reached a high of 1 AUD to 0.881 USD in December of 1988, and a low of $0.477 in April 2001. By June 2008, it has risen significantly to $0.96, and continued to rise to $0.98 by the end of the year.
On October 15 2010, the US dollar rose all the way above the Australian dollar for the first time since the AUD becoming a floating currency, trading a little above AUD$1 for a few seconds. That November, the US dollar actually traded above the Aussie dollar for several days and stayed around there well into 2011. July 27 saw the US dollar hit a record high against the Aussie, trading at $1.108.
The US dollar has been trading below the Aussie dollar since October of 2013, falling all the way to 0.69 in September of 2015. This is good news for your trip, meaning you’ll get more Aussie dollars for your US dollar.