The Australian dollar, denoted by AUD or A$, is the official currency of the Commonwealth of Australia (including the Australian Antarctic Territory, Christmas Island, Cocos Islands, Heard Island and Mc Donald Islands as well as the independent Pacific island states of Kiribati, Nauru and Tuvalu). The AUD is sometimes called the “Aussie” and locally, the “Pacific Peso.”
Such a quotation depicts how many units of the counter currency are needed to buy one unit of the base currency. For example the quotation EUR/USD 1.2500 means that one euro is exchanged for 1.25 US dollar. If the quote moves from EUR/USD 1.2500 to EUR/USD 1.2510, the euro is getting stronger and the dollar weaker. On the other hand if the EUR/USD quote moves from 1.2500 to 1.2490 the euro is getting weaker while the dollar is getting stronger.
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