why does australia use dollars not pounds

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ELI5: Why does Australia use Australian dollars and not …

https://www.reddit.com/r/explainlikeimfive/…
However the "royal" proved unpopular, so instead the name "dollar" was chosen. Australia could have stuck with the name "pound" even after decimalisation if it wanted to, however I think it was probably decided to adopt a new name to avoid confusion, as the method used to decimalise was to make £1 in the old system the equivalent of $2 in the new system.

Why do Australia and New Zealand have the Dollar and not …

https://www.hometheaterforum.com/community/threads/…
Jun 29, 2008 · In the 1960s there was pressure for decimalization of currency systems. In Australia & New Zealand, the pound-shilling-pence system was replaced with a dollar-cent system, each dollar being equivalent to 10 shillings of the former currency, that is, one pound equalled two dollars. New Zealand 10¢ coins, in fact, for some years also carried the …

Why do Ex-British Colonies use Dollars Instead of Pounds …

https://www.youtube.com/watch?v=PXuT-PeTkbY

Jan 14, 2020 · You’ll notice that many ex-British Colonies, like Australia, Canada and New Zealand don’t use pounds like their former British overlords but instead use doll…

On this day: Australia switches from pounds to dollars …

https://www.australiangeographic.com.au/blogs/on…
Feb 14, 2017 · ON THE MORNING of 14 February 1966, Australia’s shops, banks and ticket offices opened their doors and ushered in the age of decimal currency. Curious citizens formed long queues to exchange their pounds and pennies for brand-new dollars and cents. Changeover Day, or ‘C-Day’, went off without a hitch The Sydney Morning Herald reported; …
https://www.ramint.gov.au/sites/default/files/Before decimal currency.pdf
Before 1966, Australia had a money system that was based on the imperial (British) pounds, shillings and pence. With 12 pennies in a shilling and 20 shillings in a pound, there was a lot of difficult maths involved in using our money. It was on 14 February 1966 that Australia started to use decimal currency – the dollars and cents that we know today.

Decimal currency | National Museum of Australia

https://www.nma.gov.au/defining-moments/resources/decimal-currency
Mar 17, 2022 · On Valentine’s Day 1966 Australians woke to a brand-new currency. The decision to change from the Australian pound (with its awkward shillings and pence) to a decimal currency – the Australian dollar – had been a pragmatic, economic one. Yet decimalisation became an opportunity for Australia to assert itself as an increasingly self-assured and …

Why are the Canadian and Australian currencies called …

https://www.quora.com/Why-are-the-Canadian-and…
For a century, the two dollars were equivalent to each other. Australia changed their currency to the dollar when they went to decimal currency in 1966 – a few years before the United Kingdom decimalized. Prior to that, they used the Australian Pound which was kept equal in value to the British Pound.

Understanding Exchange Rates and Why They Are Important …

https://www.rba.gov.au/publications/bulletin/2018/…
Dec 13, 2018 · Australia maintained a pegged exchange rate, partly because the Australian financial system was relatively underdeveloped, but replaced the peg to sterling with a peg to the USD because of Australia’s increasingly strong trade links with the …

Why didn’t most of Britain’s ex-colonies, particularly …

https://www.quora.com/Why-didnt-most-of-Britains…
Answer (1 of 11): New Zealand (and Australia) decimalised before the UK. Our pound was changed to the dollar in 1967 – I remember the excitement well. The new dollar note had the same value and colour and size as the old ten shilling (half a pound) note and the new two dollar note looked very lik…