Currency
A set of low denomination banknotes was introduced in 1974. The first Hutt River coins were not issued until 1976. The currency of the Hutt River Province Principality is the Hutt River Dollar, which is divided into 100 cents. The Hutt River Dollar is tied at a one-to-one ratio with the Australian dollar.
Read more about this topic: Principality Of Hutt River
Famous quotes containing the word currency:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)
“Common experience is the gold reserve which confers an exchange value on the currency which words are; without this reserve of shared experiences, all our pronouncements are cheques drawn on insufficient funds.”
—René Daumal (1908–1944)
“There is no legislation—I care not what it is—tariff, railroads, corporations, or of a general political character, that all equals in importance the putting of our banking and currency system on the sound basis proposed in the National Monetary Commission plan.”
—William Howard Taft (1857–1930)