ACR Classics: The End Of Australia’s Dual Currency

The end of Australia’s dual currency period has been signalled officially by a Proclamation under the Currency Act 1965, which appears in the Commonwealth Gazette of 8 June 1967.

The Proclamation means that, as from 1 August, businesses in Australia will be solely in $c. This includes all contracts and agreements, deeds, instruments and legal documents, payments, sales and other monetary transactions.

£sd will have no legal standing. A contract made out in £sd will not be enforceable.

All retailing must be in $c. All Australian shops will be operating in $c from 1 August and it will be unnecessary for any retailer to advertise or quote in £sd. At present some retailers still deal in £sd, as both $c and £sd are legal currencies. In addition, a relatively few shops have not yet had their business machines (mainly cash registers and accounting machines) converted to $c operation. These factors will not apply after 1 August.

Complaints to the Board

The most persistent complaint reaching the Decimal Currency Board concerns organisations and salesmen who still talk £sd throughout a transaction and then $c when they ask for payment.