Australia's banknotes may be the most advanced in the world

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Currencies

Australia's banknotes may be the most advanced in the world

Australia's currency is one of the most advanced in the world.

The nation's banknotes are totally waterproof, hard to counterfeit and relatively cleaner because they are resistant to moisture and dirt.

Australian dollar notes are made of a polymer, which has a waxy feel, while the banknotes of the U.S. and several other countries are made of cotton fiber paper.

Polymer banknotes tend to last two to three times longer than paper notes. The feature could reduce replacement costs — for reference, the U.S. $10 bill is replaced every four and a half years.

Australia is continuously innovating with its banknotes, too. Its new A$5 banknote boasts a rolling color effect and, when moved a certain way, you'll even see the image of an eastern spinebill (a native bird) moving its wings and changing colors.

In 2015, the Reserve Bank of Australia said it would add a tactile feature to the notes to help the visually challenged know the value.

Australia was the first country to introduce polymer banknotes in 1988, which have been adopted by other countries such as Canada and Vietnam. The U.K. began to introduce polymer banknotes in 2016.