The Australian dollar (AUD) was established in 1966 for use by Australia and all of its territories. It is divided into 100 cents and contains five banknotes and eight coins and is credited with producing the first polymer banknote. The Australian dollar is divided into 4 series with the current series being completely polymer based. The first paper issues of the Australian dollar were issued in 1966. The denominations $1, $2, $10 and $20 bills had exact equivalents in the former pound banknotes. The $5 bill was issued in 1967, the $50 was issued in 1973 and the $100 was issued in 1984.Australia is also known as the first country to develop and use polymer bills. The first polymer banknotes were issued in 1988. That is not all, in 2016 Australia also came out with the upgraded banknotes that would incorporate several new future proof security features to prevent counterfeit attempts and include Braille dots for the use of the visually impaired. A $5 bill was released September 1st, 2016 followed by a new $10 bill that had been released into circulation on September 20th, 2017. Following these banknotes, a $50 bill in October 2018 hit circulation and a new $20 bill has been released into circulation starting October 9th, 2019, lastly, a new $100 bill in 2020.Australia's banknotes have earned the nickname "The most advanced banknotes" in the world. The obverse of each banknote of the current series (dubbed “Next Generation”) features some of Australia’s most influential figures and icons. Queen Elizabeth II is on the obverse of the 5 dollar banknote along with the Parliament House. The other prominent figures on the obverse of Australia’s banknotes are Banjo Paterson, Mary Reibey, David Unaipon and Nellie Melba. On the reverse are Mary Gilmore, John Flynn, Edith Cowan and John Monash.
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