ELI5: Explain Like I'm 5

British currency in Oceania

Okay kiddo, let's talk about money in Oceania. Do you know what the British Pound is? It's the kind of money people use in the United Kingdom, which is a country in Europe.

Well, a long time ago, the British went out and explored the world, and they ended up finding a bunch of countries and islands in the Pacific Ocean. They called this area Oceania.

Now, even though these countries and islands are far away from the UK, the British wanted to keep using their money there. So they set up something called a currency board, which is like a special bank. This currency board made sure that people could use British pounds in Oceania, just like they could in the UK.

But some of these countries in Oceania got their independence from Britain, and they wanted to have their own money. So now, some countries in Oceania have their own currency, while others still use British pounds.

Makes sense? So if you ever go to Oceania, you might find people using British pounds, or you might need to exchange your money for a different kind of currency.