The currency used in Australia is the Australian dollar, often denoted as AUD. It is abbreviated as "$" or "A$" to distinguish it from other dollar-denominated currencies. The Australian dollar has been in use since 1966, replacing the Australian pound. It is subdivided into 100 cents and is one of the most traded currencies in the world. The Australian dollar is often used as a benchmark currency in the Asia-Pacific region and is favored for its stability. The currency's design features notable Australian figures and imagery representing the country's unique wildlife and natural beauty.