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.
The average salary of the top earners (between $100,000 and $760,000) was $155,000. Ten employees are on more than $500,000 per year - four more than last year, and 29 are being paid between $200,000 and $400,000 a year. The average annual wage for New Zealanders is about $50,000. In the last year ACC also paid $1,314,584 in redundacy - up from the $578,949 paid to 24 staff in 2011.