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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 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 ).
The cost of one Euro in Australian Dollar. Prior to 1983, Australia maintained a fixed exchange rate. The Australian pound was initially at par from 1910 with the British pound or A£1 = UK£1; from 1931 it was devalued to A£1 = 16s sterling. This reflected its historical ties as well as a view about the stability in value of the British pound.
As the pound sterling went from US$4.03 to US$2.80, the Australian pound went from US$3.224 to US$2.24. [20] Relative to the pound sterling, the Australian pound remained the same at A£1 5s = £1 sterling. With the breakdown of the Bretton Woods system in 1971, Australia converted the traditional peg to a fluctuating rate against the US dollar.
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).
It’s a relatively quiet day ahead on the economic data front, with U.S factory orders the headline stat of the day ahead….
This is a list of circulating fixed exchange rate currencies, ... Euro: 491.96775 Cook Islands dollar: ... Kiribati dollar: Australian dollar: 1 Lebanese pound:
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