Nauru - Money



Nauru does not have its own currency, but uses the Australian dollar. By doing so, it gains the advantages of

Exchange rates: Nauru
Australian dollars per US$
Jan 2001 1.7995
2000 1.7173
1999 1.5497
1998 1.5888
1997 1.3439
1996 1.2773
SOURCE: CIA World Factbook 2001 [ONLINE].

allying its economy with a stronger, larger neighbor. As Australia is Nauru's largest trading partner, using the Australian dollar simplifies trade because currencies do not need to be converted. On the other hand, Nauru's monetary policy is linked to changes in the Australian dollar, which has dramatically depreciated (decreased in value) against the U.S. dollar over the past several years. Inflation in Nauru has generally been quite low.

Also read article about Nauru from Wikipedia

User Contributions:

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Jul 16, 2011 @ 5:05 am
Where can I apply if I wanted to work in Nauru? Thank you

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