The Australian dollar (AUD) is the official currency of Australia and is often represented by the symbol "$" or "A$" to distinguish it from other dollar-denominated currencies. It was introduced in 1966, replacing the Australian pound. The Australian dollar is widely used in international trade and is one of the most traded currencies in the world. The value of the Australian dollar can fluctuate based on various factors, including commodity prices, interest rates, and economic conditions. It is commonly used in the Asia-Pacific region and is considered a benchmark currency for trading in natural resources like gold and iron ore, which are significant exports for Australia.