On Valentines Day, 1966, the Australian dollar replaced the Australian pound, and people no longer had to memorise the 12 times table.
But, before being introduced, a few other names were suggested instead of ‘the dollar’. In 1963, under the influence of Robert Menzies, the current PM, the government decided the new currency should be called the ‘Royal’. Other suggestions include ‘Austral’, Oz’, ‘Boomer’, ‘Roo’, ‘Kanga’, ‘Emu’, ‘Koala’, ‘Digger’, ‘Zac’, ‘Kwid’, ‘Dinkum’ and ‘Ming’ (the nickname of Prime Minister Menzies). However, the Royal prevailed. Harold Holt (currently believed to be in the custody of Japanese midgets, or vertically challenged people, as they prefer to be called) saw this name as “emphasising our link with the Crown” and as being “a dignified word with a pleasing sound.”
Three months later, the government ditched the name ‘Royal’, because everyone hated it, and adopted the name ‘Dollar’.
Another currency intended to be used in Australia that never got off the ground, was the Japanese pound (I guess it would be called). This currency was printed by the Japanese government, who intended to use the notes in Pacific countries after occupation during WWII.
But we had our own plans, and also developed a one-hundred yen note as an occupation currency for Japan.
So I guess Australia and Japan are even stevens on the trying-to-make-money-for-the-other-persons-country front, and we can now move on and all be friends.
Most material lifted from Wikipedia and the Museum of Australian Currency Notes (maintained by the RBA). Check out the RBA site for the best bits. Most of the Wikipedia stuff is pretty much lifted from the RBA site anyway…