THE RESERVE BANK AND REFORM OF THE CURRENCY: 1960–1988

Summary

A separate central bank with responsibilities for the note issue was established - The Reserve Bank of Australia. The decimal system was introduced and a distinctively Australian set of currency notes was issued, though not without some controversy. The new notes captured the emerging diversity of Australia and its contribution to the wider world.

Inflation in the 1970s and 1980s led to the issue of the first higher-denomination notes for many years.

New note printing facilities were opened in Melbourne.

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