The currency used in Australia is the Australian Dollar (AUD), represented by the symbol '$', and sometimes differentiated as 'A$' to avoid confusion with other dollar-denominated currencies. The Australian Dollar is subdivided into 100 cents and is one of the most widely traded currencies in the world. It was introduced in 1966, replacing the Australian Pound at a rate of two dollars for one pound. The currency is issued by the Reserve Bank of Australia and reflects the country's economic health, commodity exports, and geopolitical situations, making it an important currency for global traders.