AUD is the ISO code for the Australian Dollar. Like most dollar denominated currencies, it can be subdivided into 100 cents. It can be represented by $ or A$ to help distinguish it from other dollar based currencies. A widely used nickname for the AUD is the Aussie. The AUD replaced the Australian pound in 1966. From 1966-1983, the AUD was pegged first to the British Pound and then to the American Dollar, and then to a trade index. In 1983 it began to float. The AUD is one of the major currencies exchanged on the world's forex markets. Currently, it is the 5th most traded currency, behind the USD, EUR, JPY, and GBP. Currently circulating coins are 5 cents, 10 cents, 20 cents, 50 cents, 1 dollar, and 2 dollars. Currently circulating banknotes are all made of polymer instead of paper. Denominations of these notes are 5, 10, 20, 50, and 100 dollars.