Australian dollar $AU .

The race between Australian dollar and US dollar has been news head lines for couple of days, because Australian dollar$AU has already reached the parity. Australian currency was first introduced by Prime Minister Andrew Fisher in 1910 and the currency was known as Australian pound consisting of twenty shillings  each consisting of twelve pence. Prior to this, Pound Sterling was being used as currency in Australia.
The Australian dollar was introduced in 1966, by replacing the Australian pound  but also introducing a decimal system. The Australian Prime Minister Robert Menzies wished to name the currency "the Royal", and other names such as "the Austral" and "the Koala" were also proposed.

Each Australian dollar is composed of 100 cents. The smallest coin in current circulation is equal to five cents, the one and two cent coins having been discontinued in 1990-92 and withdrawn from circulation . Australian notes are made of polymer.

                                               

                                   April 2001 ,1 $AU = US 47 cents

                                  

                October 2010 ,1 $AU = $ US 1.006