In 1988, banknotes were converted to polymer, a technology originally developed in Australia to help prevent counterfeiting. In February of 1966, the Australian Dollar (AUD) was introduced under a decimalized system dollars and cents replacing the pounds, shillings, and pence. Three years later, the first series of Australian notes were issued. The Australian Pound was fixed in value to the Pound Sterling and, as a result, used a gold standard. Good for low fee transfers - small flat fee for. These silver and bronze coins continued to be used until 1910, when a new national currency, the Australian Pound, was introduced. Xe allows you to transfer money to over 170 countries in 60 currencies and benefit from live exchange rates. In 1825, the government imposed the Sterling standard and British coins began to be minted in Australia. In 1813, to try to discourage the illegal use of Spanish Dollars, the centers of the coins were cut out they became known as 'holey dollars' and the cores were called 'dumps' this was Australia's first form of coinage.įrom the Pound Sterling to the Australian Dollar When New South Wales was first established in 1788 the English Pound was the official currency, although Spanish Dollars were used quite regularly. A carry trade is a strategy in which a currency with low interest rate is sold in order to buy a currency with a higher interest rate. Due to its relatively high interest rates, the Australian Dollar is often used in carry trades with the Japanese Yen. As a result, the AUD is affected by China and other Asian import markets. The Australian Dollar is known as a commodity currency due to its substantial raw material exports. As the 5th most traded currency in the world, the Australian dollar is also referred to as buck, dough, or the Aussie. In September 2016, the Xe Currency App reached over 55 million downloads.The central bank in Australia is called the Reserve Bank of Australia. In early 2013, a paid version (Xe Currency Pro) was made available for iPhone users. In 2009, the company introduced a free mobile app (Xe Currency) on iOS, Android, BlackBerry, Windows Phone, Windows 8, and Firefox OS devices. Other features include customized converters, a currency encyclopedia, travel expense calculator, and forex currency news. The company provides a foreign exchange service (Xe Money Transfer) and a commercial currency data feed service (Xe Currency Data) that offers accurate and reliable exchange rates for businesses. The website also offers free historical charts and rate tables. Xe.com offers various free online currency tools, including the Xe Currency Converter, which allows visitors to check live exchange rates of any world currency. In December 2018, Xe merged with sister company HiFX and the two companies will continue to do business under the Xe brand name. On July 6, 2015, electronic payments provider Euronet Worldwide, Inc. Offered online, this service allows both consumers and businesses to send funds internationally. In 2016, Xe Trade was rebranded as Xe Money Transfer. In 2002, Xe launched an international money transfer service called Xe Trade. and focused its efforts on its website and online currency tools. In early 2001, as the Internet became more prevalent, the company formally changed its name to Xe.com Inc. A year later, the company launched a currency converter, providing live currency information online. In December 1994, the company registered the domain name Xe.com, choosing the letters Xe from the two-letter atomic symbol for Xenon. Xe's name at founding was Xenon Laboratories Incorporated and originally, the company provided computer consulting and Internet services to businesses. As of 2016, Xe claimed that its services attracted over 280 million unique visitors annually. Īs of 2013, independent ranking site Alexa ranked Xe in the top 500 of all sites worldwide by traffic, and a top 100 traffic site in Ireland, South Africa, and the UAE. It has been a subsidiary of Euronet Worldwide since 2015. It is best known for its online currency converter application offers exchange rate information, international money transfers, and other currency-related services via its website, mobile apps, and other online channels. Xe.com ( Xe) is a Canada-based online foreign exchange tools and services company headquartered in Newmarket, Ontario.
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