"In 1960, this role passed to the Reserve Bank of Australia, which assumed responsibility for the central banking functions, including banknote issue."
uh-huh, so if the OP was still true then why is the government (fed and states) in debt to foreign privately owned or controlled banks to the tune of around 1 TRILLION dollars? The au reserve might make the plastic notes that go in your wallet but their is obviously something far stinkier going on.
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australian banknotes history, page-7
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