New Zealand dollar is the official currency of New Zealand since 1967. This unit of currency is also used in the Cook Islands, Niue, Tokelau and the Pitcairn Islands.
Origins and history
Prior to the arrival of the New Zealand dollar, the currency of the country was the New Zealand pound, different from sterling pound since 1933.
The change to decimal currency to replace the system of the New Zealand pound had been proposed in New Zealand in the thirties, but it was not until the fifties that the project was launched. In 1957, the Government created a committee to carry out a research on the decimal currency and finally in 1963 the Government decided to divide the currency of New Zealand into tenths.
The decimal currency act was passed in 1964, setting out the transition date for the 10th July 1967. Also, other names for the currency were suggested, such as kiwi or zeal, in order to avoid confusion with dollar, commonly associated to US dollar. In the end, the word dollar was chosen to call the national currency.
On the 10th July 1967 New Zealand dollar was introduced to replace the New Zealand pound, one pound equaling to two dollars. Around 27 million in banknotes were printed and 165 million in coins.
Countries using New Zealand dollar
New Zealand dollar is the official currency of New Zealand, Cook Islands, Niue, Tokelau and Pitcairn Islands.
Current New Zealand dollar coins and banknotes
Today we have banknotes of 5, 10, 20, 50 and 100 New Zealand dollars.
Regarding coins, we have coins of 5, 10, 20 and 50 cent and 1 and 2 dollars.
Did you know?
- This currency is commonly called kiwi, name given after the national bird, which appears in the 1 dollar coins.
- New Zealand dollar is one of the top ten currencies used in trade worldwide.
- Elizabeth II is the queen of New Zealand.
Why changing currency with us is better than with your bank?
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| Variety of currencies | We have more than 60 currencies. We are specialists. | Only major currencies. Travel money is just a secondary business for banks. | ||
| Availability of currencies | Immediate availability of currencies in our branches. Click and collect or walk in to our stores. | If they can actually get your exotic currency, prepare for a couple of visits to your bank before you can collect your money. | ||
| Expenses | Order your foreign currency online, you will get bigger discounts the higher the amount you exchange. Online orders also get better rates than at the airport | The bank sets its own margin plus a commission. | ||
| Different denominations available | At Global Exchange, you’ll get a variety of banknotes with different values, adapted to all your payment needs. | No, prepare for having trouble trying to use high banknote denominations abroad. | ||
| Delivery options | Order online to benefit from a price reduction and collect at the branch of your choice. | You’ll have to go first to your bank to order the currency you need, then wait for it to come and go back again to collect it. |