The rate of conversion for the new decimal currency was two dollars per Australian pound, or ten Australian shillings per dollar. The exchange rate was pegged to the pound sterling at a rate of $1 = 8 shillings ($2.50 = UK Â£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.t is subdivided into 100 cents. As of 2011, the Australian is the 5th most traded currency in the world, accounting for 7.6% of the world's daily share. It trades in the world foreign exchange markets behind the US dollar, the euro, the yen and the pound sterling.
More than 300 ACC employees are being paid in excess of $100,000 a year, according to its annual report. The highest paid earner, who the state insurer said was not departing chief executive Ralph Stewart, received up to $760,000. The insurer declined to name who that earner was.
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