Before you get to know about Australian Dollar Exchange Rate there is something you needs to know about a dollar. First of all the dollars that are being used in Australia are known as Australian Dollar, and locals usually name them as a buck as a short form. Further, the code for this dollar is AUD, and it came into being in the late 1960s, and the sign that is mostly used for Australian Dollar is A$. Now Australia being one of the most powerful companions for European and Asian countries, and that is why Australian Dollar is a topmost trading currency in the world after US Dollar, Euro, Yen, Swiss Franc, and Pound, and Australia holds a strong position in international trading due to this currency.
A Strong Competition
In the start, the Australian Dollar had to face a strong competition against the US Dollar, and the Canadian Dollar. In the start, the Australian dollar was considered as one of the lowest currency in the list of dollars. But as soon as Australia started strong trading with other countries around the world since then a strong rise in Australian Dollar has been witnessed. And currently, in the world of currency trading with many online trading platforms including ACE Money Transfer, this dollar is considered as the top one for the currency trading.
And right now if you want to travel to Australia for spending holidays and when you would be required to convert your currency to Australian Dollars then you will find out that it is quite an expensive one. No doubt that the Australian dollar has not reached to the equality of the US dollar but it has been expected that soon a single AUD will be equal to a single USD, as Australia is still trying to open up more trading routes to the world, and more trading means higher the currency.