The Zimbabwean dollar's predecessor, the Rhodesian dollar, was essentially equal to half of the value of the pound sterling at the time of its adoption (during the decimalisation of 1970). A similar practice was used in other Commonwealth countries such as South Africa, Australia, and New Zealand. The selection of the name was motivated by the fact that the reduced value of the new unit correlated more closely to the value of the US dollar than to the pound sterling.[citation needed]