Australian pound became $1 and 1s became 10c. The conversion rate was problematic for the pre-decimal penny since the shilling was divided into twelve pence. An exchange rate of $2.40:£1 would have allowed for accurate conversion down to the penny, with one penny becoming one cent; however, the Government thought it more important that the new currency unit be more valuable than the United States dollar which it would not have been under a 2.4:1 ratio. Amounts less than a shilling were converted as follows: In 1855, gold full and half sovereigns (worth respectively one pound sterling and ten shillings) were first
Currency symbol United Kingdom often uses an interpunct as the decimal point on price stickers (e.g., £5·52), although no longer generally does so in print. Commas (e.g. €5,00) or decimal points (e.g. $50.00) are common separators used in other countries. See decimal separator for information on international standards. Older currency symbols have evolved slowly, often from previous currencies. The dollar and peso symbols originated from the mark employed to denote the Spanish , whereas the pound and lira symbols evolved from an L standing for , a Roman pound of silver. Newly invented currencies and currencies adopting new symbols have symbolism closer