The Reserve Bank and Reform of the Currency: 1960–1988

Decimal Currency

A major project during the first half of the 1960s was the introduction of decimal currency and the issue of a new series of currency notes.

The Government decided in 1963 that the decimal currency should be based on a 10 shilling/100 cent system. It established the Decimal Currency Board to oversee the conversion process and set February 1966 as the date for introduction of the new currency.