Why don't all Commonwealth nations use the British pound?

by rageshtag
Zaldarr

As in still use it today? Australia, Canada, New Zealand all used the pound during their colonial periods. I know for a fact that Australia did not adopt decimal currency until 1966. Prior to that, Australia used the Australian pound from 1910-1966. And prior to that, it was the British pound (independence being gained in 1901.) The question more has to do with economics than history. Being able to control the deflation or inflation of a currency by a federal bank allows for a degree of control over a modern economy. Ergo, when independence is achieved it is natural for a nation to adopt a new currency. Does this answer your question? I feel like I haven't quite hit a bullseye.