The currency of Australia is the Australian Dollar, abbreviated as AUD. It was introduced in 1966, replacing the Australian pound as part of a decimal currency system. The Australian Dollar is subdivided into 100 cents and is used not only in mainland Australia but also in some of its territories and Pacific Island nations. The currency features various designs that celebrate Australian culture, nature, and history. The AUD is widely traded on the foreign exchange market, and its strength may be influenced by various factors, including resource exports and economic performance.