The Australian Dollar (AUD) is the offical currency of Australia and its territories plus the Pacific Island states of Kiribati, Nauru, Papua New Guinea, Tonga, Tuvalu and Vanuatu. The Australian Dollar is a major currency, which means it is sometimes used worldwide for international transactions. However, most transactions involving Australian dollars are made within the Commonwealth of Australia and the small pacific island nations nearby. While the Australian dollar is primarily used here, it is also heavily traded, being the 5th most traded currency in the world. As well, the Australian dollar is a major component of the world economy and is utilized by traders and investors, and consumers and gamblers from all over the world. To learn more about the Australian dollar and its role in the online trading community, continue and learn of it’s different aspects below.show more
An important aspect to remember about making online payments is their meaning of the “$” symbol. In most cases the “$” symbol is used to symbolize American dollars (USD). However, this “$” symbol can be used to symbolize a variety of different currencies. For instance, the “$” symbol is used for CAD dollars, and AUD dollars, and so on. So, in the case of Australian dollars, the “$” symbol may symbolize a number of different currencies, which is why it’s important to know which currency you have selected or that is accepted on the merchant’s website.
The Australian dollar is used among people from the commonwealth of Australia and some other small nations, it is not used for everyday purchases of goods and services any where else in the world. So, if someone wants to engage in or purchase Australian goods or services, they must exchange their foreign currency for Australian dollars. Many online services such as gambling sites and online trading brokerages have an exchange service built into the site. This makes exchanging foreign currencies into Australian dollars quite simple and fast. Although, first you must ensure they accept your foreign currency for converting it to Australian dollars. If they do not, there are various online exchange services where you can sell your currency to them and they will pay you in any which currency you need (Australian dollars), for a small fee.
Residents of Australia can easily purchase products and deposit funds with Australian dollars. Payments can be made directly through their bank account in most cases, or through associated debit/credit cards linked with an Australian bank. As for consumers who do not deal in Australian dollars and who may be living in other countries than Australia. Many online businesses accept payments with Australian dollars through e-wallets such as PayPal and Neteller. This is a great way to deposit and make transactions with Australian dollars as e-wallet accounts are free to sign up with and generally have low transaction fees. Most online businesses including online trading brokerages and online casinos will accept large international e-wallets which allow foreign consumers to use their services.