Funny Money
Posted by at 9:07 PM
The currency here in Australia is very strange...or should I say very different from the U.S. I like the "bills" because they are made of a polymer which allows them to be much more durable than the paper "bills" of the U.S. - i.e. no permanent creases. In addition, because they are a plastic it also allow them to have a see-through window which helps combat the fakes, but at first glance seems like a hole. Like most other foreign currency, Australia dollars vary in sizes and colors with denomination.
I really don't like dealing with coins on a day to day basis and unfortunately Australia is full of coinage. Since the smallest bill is $5, coins are essential as they are used for the $1 and $2 denomination. The dollar value coins are gold in color and small in size when compared to the other coins...which seems backwards to me. The 50 cent coin is huge and obnoxious with its jagged corners.
The one thing I do like about the currency is that tax (or GST (Goods and Services Tax) as it is known here) is already included in the price. On most items, food items excluded, the tax rate is 10%. I feel that including the tax in the price makes things much easier, since the price you see is the price you pay...no hidden charges. Most totals are in whole or half dollars.
Generally speaking items here in Sydney are expensive (at least compared to Houston - which I know is a truly fair comparison). Currently the exchange rate between the U.S. and Australia is about 0.85 to 1. Generally speaking I don't take into account the exchange rate as 1)it is so close to the U.S. dollar and 2) Jess and I are getting paid in Australian dollars, so why bother figuring the exchange rate. Just for comparison purposes here are some items and prices my trip to the grocer today:
Loaf of Bread = $4.00
Cheese (shredded) = $6.00
Sliced Chicken = $5.00
Avocado = $2.00 ea (on sale)
The sandwich that followed was worth every dollar.
I really don't like dealing with coins on a day to day basis and unfortunately Australia is full of coinage. Since the smallest bill is $5, coins are essential as they are used for the $1 and $2 denomination. The dollar value coins are gold in color and small in size when compared to the other coins...which seems backwards to me. The 50 cent coin is huge and obnoxious with its jagged corners.
The one thing I do like about the currency is that tax (or GST (Goods and Services Tax) as it is known here) is already included in the price. On most items, food items excluded, the tax rate is 10%. I feel that including the tax in the price makes things much easier, since the price you see is the price you pay...no hidden charges. Most totals are in whole or half dollars.
Generally speaking items here in Sydney are expensive (at least compared to Houston - which I know is a truly fair comparison). Currently the exchange rate between the U.S. and Australia is about 0.85 to 1. Generally speaking I don't take into account the exchange rate as 1)it is so close to the U.S. dollar and 2) Jess and I are getting paid in Australian dollars, so why bother figuring the exchange rate. Just for comparison purposes here are some items and prices my trip to the grocer today:
Loaf of Bread = $4.00
Cheese (shredded) = $6.00
Sliced Chicken = $5.00
Avocado = $2.00 ea (on sale)
The sandwich that followed was worth every dollar.
Labels: money
