Dollars and Cents

6 May

The exchange rate between the US and Australia has been improving (to the US’s favor) lately and it made me think about the Australian money.

The Australian currency is called the dollar and the coins are called cents. Easy enough. The smallest bill is a $5 and the smallest coin is worth $0.05. According to my internet resources (which, could be totally inaccurate), the Australian 1 cent and 2 cent coins were withdrawn from circulation in 1995. So when something costs $4.99, really you pay $5 even. It’s always rounded to the nearest $0.05 and seems to never be in my favor. This is only when you pay with cash. ATM purchases and all electronic transaction use the real number.

It’s hard for us to remember that we could easily be carrying around $10 in change.We’ll figure it out at some point.


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