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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.
The term cable is a slang term used by foreign exchange traders to refer to the exchange rate between the pound sterling and US dollar. [1] The term originated in the mid-19th century, when the exchange rate between the US dollar and sterling began to be transmitted across the Atlantic by a submarine communications cable.
The 1825 order-in-council was largely a failure because it made sterling silver coinage legal tender at the unrealistic rate in relation to the Spanish dollar of $1 = 4 shillings and 4 pence. In 1838, remedial legislation was introduced for the British West Indies , with a new and more realistic rate of $1 = 4s 2d.
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.
James Callaghan's government were defeated over their plans to devalue the green pound by 5% in January 1978. In the United Kingdom, the green pound was the common name for an exchange rate that was used to calculate the value of financial support within the European Union's Common Agricultural Policy until 1999.
The notes were denominated in pounds and shillings, and valued at par with sterling. Prior to February 1961, the South African pound, which was then equal in value to sterling, was also accepted on the island, but that ceased with the introduction of the new decimal South African rand, with one rand being worth only 10 shillings sterling.
The act standardized a new currency, the New Zealand dollar, divided into 100 cents. Its value was based on that of the prior coinage, with one shilling being equal to the new value of ten cents. Eight denominations of coin were defined, ranging from one dollar to one half cent. [18] Upon taking effect on 10 July 1967, the act abolished the pound.