The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($); A$ or AU$ are often used informally to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.
The Australian dollar is currently the sixth-most-traded currency in world<ref></ref> foreign exchange markets (behind the euro, US dollar, the yen, the pound sterling, and the swiss franc), accounting for over 6% of worldwide foreign-exchange transactions. The Australian dollar is popular with currency traders due to high interest rates in Australia, the relative freedom of the foreign exchange market from governmental intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies (especially because of its greater exposure to Asian economies and the commodities cycle). In the inter-bank foreign exchange market AUD/USD is known simply as the "Aussie".
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