Decimal Day Board. Consideration was given to introducing a new major unit of currency worth ten shillings in the old currency: suggested names included the "new pound", the "royal" and the "noble". This would have resulted in the "decimal penny" being worth only slightly more than the old penny (this approach was adopted, for example, when South Africa, Australia and New Zealand decimalised in the 1960s, adopting respectively the South African rand, Australian dollar and New Zealand dollar equal in value to 10 shillings). But Halsbury decided, in view of the pound sterling's importance as a reserve currency, that the pound should
Manx pound Manx pound The Manx pound () is the currency of the Isle of Man, in parity with the pound sterling. The Manx pound is divided into 100 pence. Notes and coins, denominated in pounds and pence, are issued by the Isle of Man Government. The Isle of Man is in a one-sided "de facto" currency union with the United Kingdom: the Manx government has decided to make UK currency legal tender on the island, and to back its own notes and coins with Bank of England notes. Manx government notes may, on demand, be exchanged at par for Bank of