What is the currency in Australia?

The currency in Australia is the Australian dollar, represented by the currency code AUD and the symbol A$. The Australian dollar is the country’s official currency and has been the only legal tender accepted in Australia since it replaced the Australian pound in 1966.

If you’re planning a trip to Australia, whether you’re on a city break to Sydney or an adventure into the Outback, it’s important to know your way around the local currency. So, we’ve created an essential guide to AUD, from denominations and payment methods to average costs. 

Ready to buy your foreign currency? You can order Australian dollars online from M&S Travel Money*.

What is Australian currency?

The Australian dollar is a decimal currency, introduced to replace the non-decimal Australian pound on 14 February, 1966, as a way to simplify transactions and make it easier to trade. 

More recently, in 1988, Australia was the first country in the world to switch from paper banknotes to polymer plastics. Today, the currency is available as banknotes and coins, and one Australian dollar is subdivided into 100 cents. 

Coins include:

5 cents, 10 cents, 20 cents, 50 cents, $1, $2

Banknotes include:

$5, $10, $20, $50, $10 

Are Australian dollars used anywhere else in the world?

As well as being the official currency of Australia, the Australian dollar is also used in Australian territories like Christmas Island, as well as independent states including Nauru and Tuvalu.

What is the current exchange rate for Australian dollars?

The GBP to AUD exchange rate changes regularly. For today’s rate, take a look at our Australia currency conversion calculator.

What payment methods are accepted in Australia?

If you’re visiting Australia, whether you’re on holiday or travelling for a longer period, it’s a good idea to have a variety of payment options with you. Cash is always handy for things like small purchases, paying cash-only vendors like street food stalls, and tipping, for example, whereas credit and debit cards can be an important back-up to have ready in an emergency.

Cash

Around a decade ago, cash was the most popular payment method in Australia. And although cash usage in Australia is now declining year on year, it remains an important payment method for many. If you’re shopping for small items at somewhere like Queen Victoria Market in Melbourne, for example, you may find some vendors will only accept cash – and that’s even more likely in more rural areas of Australia. Likewise, some businesses have a minimum spend amount for card payments, and many ATMs in Australia charge a withdrawal fee, so it can be useful to take cash with you. Read our guide to travelling with cash for more advice on the topic.

Debit, credit and prepaid cards

Credit and debit cards are the most popular in-store payment methods used in Australia, and you’ll find Visa, Mastercard and American Express are all widely accepted by businesses that are set up to accept card payments. You may find it’s possible to pay in other currencies in some locations – particularly if they’re popular with tourists. Just bear in mind that paying in alternative currencies is likely to incur additional fees and it’s often better to pay in the local currency when you’re abroad.

Digital payments

Digital payments are rapidly growing in popularity in Australia. In 2023, the Australian Banking Association reported that the number of mobile wallet transactions increased from 29.2 million to 2.4 billion – a huge 8,200% increase. You’ll find Google Pay and Apple Pay are widely accepted in shops and restaurants, especially in popular tourist destinations.

How much money should I take to Australia?

Excluding accommodation, the cost of living in Australia is around 0.7% lower than in the UK at the time of writing in October 2025. That means you’re likely to find that prices are quite similar or ever so slightly cheaper in Australia compared to back home. To give you an idea, we’ve listed some example costs in Australia versus the UK below.

• A mid-range three-course meal for two: £65.00 in the UK vs £58.28 (120.00 A$) in Australia
• A small domestic draught beer: £5.00 in the UK vs £4.86 (10.00 A$) in Australia
• A regular cappuccino: £3.47 in the UK vs £2.65 (5.47 A$) in Australia
• A one-way ticket on local transport: £2.50 in the UK vs £2.19 (4.50 A$) in Australia

*Example prices from Numbeo.com correct as at October 2025. All prices are illustrative.

Do I need to tip in Australia?

Tipping isn’t customary in Australia, and many Australians aren’t keen on it. Because of that, you’ll find that it isn’t expected in most places – although it’s still common in areas that are popular with tourists, who are more accustomed to leaving a tip.

Buying Australian dollars with Marks & Spencer Travel Money

Ready to go? Buy Australian dollars for Click & Collect from your nearest participating M&S store*. 

* T&Cs apply. Subject to availability.