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When Australia was part of the fixed-exchange sterling area, the exchange rate of the Australian dollar was fixed to the pound sterling at a rate of A$1 = 8 U.K. shillings (A$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217.The major currencies and their designation in the foreign exchange market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).
The clocks were set ahead of GMT by 8 hours in Western Australia; by 9 hours in South Australia (and the Northern Territory, which it governed); and by 10 hours in Queensland, New South Wales, Victoria, and Tasmania. The three time zones became known as Western Standard Time, Central Standard Time, and Eastern Standard Time.
The pound (sign: £, £A [1] for distinction) was the currency of Australia from 1910 until 14 February 1966, when it was replaced by the Australian dollar. Like other £sd currencies, it was subdivided into 20 shillings (denoted by the symbol s or /– ), each of 12 pence (denoted by the symbol d ).
Oil and petrol is sold in litres. Vehicle tyres (as in the rest of the world) mark the rim diameter in inches and the width in millimetres, such that a tyre marked '165/70R13' has a width of 165 mm, an aspect ratio (profile) of 70% and a 13-inch rim diameter. Tyre pressures may be given in either kilopascals (kPa) or pounds per square inch (PSI).
The Australian five-dollar note was first issued on 29 May 1967, fifteen months after the currency was changed from the pound to the dollar on 14 February 1960. It was a new denomination with mauve colouration – the pre-decimal system had no denomination with a value of £2 1 ⁄ 2.
Coinage of the Australian pound was replaced by decimalised coins of the Australian dollar on 14 February 1966. The conversion rate was A$2 = A£1. The conversion rate was A$2 = A£1. Australian £sd