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The currency of Nauru is the Australian dollar or A$ as Nauru does not possess a local currency of its own. All monetary transactions are carried out in the Australian currency. Banks provide the necessary currency exchange due to the unavailability of ATM machines in Nauru. Transactions are also carried out through all major credit and debit cards like Visa, American Express and diners club which are widely accepted. Traveler's cheque is also in vogue.
One Australian dollar is equivalent to 100 cents. The currency bills are found in denominations of A$ 5,10,20,50 and 100.Coins, however, are found in denominations of 5 cents, 10, 20,50,1 and 2 .The exchange rate figures of a comparison and the movement between the Australian dollar on one hand and Sterling and US dollar on the other in 2004 -05 shows its comparative lesser value than the other two.
There are, however, certain limitations imposed upon the importation of currency. Under the normal circumstances the permissible amount is unlimited but it has to be officially announced post arrival. However there is a limit imposed upon the amount which is allowed for exportation and amounts to A$ 2500.The state is pretty stern about the rules and any violation is subject to rigorous punishment under the law of the land.
The currency of Nauru is the Australian dollar as it is a part of the asylum seeking nations of the Commonwealth and by virtue of the MOU or the Memorandum of understanding with Australia it is under its domain.
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