New Zealand dollar

New Zealand dollar
source
Currency name	New Zealand dollar
Image 1	New Zealand $100 banknote.jpg
Image title 1	Reserve Bank of New Zealand $100 banknote
Iso code	NZD

New Zealand dollar is the official currency of New Zealand, Tokelau, Niue, Pitcairn Islands, and Cook Islands. It is commonly abbreviated as NZD and is divided into 100 cents. The Reserve Bank of New Zealand is responsible for the issuance of New Zealand dollar coins and banknotes, which feature notable New Zealanders such as Sir Edmund Hillary, Kate Sheppard, and Apirana Ngata. The New Zealand dollar is also used by the Pacific Islands nations of Tuvalu, Nauru, and Kiribati as a de facto currency.

● Introduction

The New Zealand dollar is a decimal currency, introduced in 1967 to replace the New Zealand pound. The introduction of the decimal currency was a significant change for New Zealand, and it was supported by the New Zealand Government, led by Prime Minister Keith Holyoake. The Reserve Bank of New Zealand played a crucial role in the introduction of the New Zealand dollar, with Governor of the Reserve Bank of New Zealand Sir Leslie Lefeaux overseeing the transition. The New Zealand dollar is now one of the most traded currencies in the world, with major trading partners including Australia, United States, China, and Japan.

● History

The history of the New Zealand dollar dates back to the early 19th century, when New Zealand was a British colony. The British pound was the official currency, and it was used until the introduction of the New Zealand pound in 1840. The New Zealand pound was pegged to the British pound at a fixed exchange rate, with the New Zealand Government issuing its own coins and banknotes. The New Zealand dollar was introduced in 1967, with the Reserve Bank of New Zealand issuing the first coins and banknotes. The introduction of the New Zealand dollar was supported by notable New Zealanders such as Robert Muldoon, David Lange, and Roger Douglas. The New Zealand dollar has undergone several changes since its introduction, including the introduction of polymer banknotes and the removal of the 5-cent coin.

● Coins

The New Zealand dollar coins are issued by the Reserve Bank of New Zealand and feature a range of designs, including the New Zealand coat of arms, the Kiwi bird, and the Maori Koru symbol. The coins are minted by the Royal Canadian Mint and the Royal Mint, and are made from a range of metals, including copper, nickel, and aluminum. The New Zealand dollar coins are used in everyday transactions, and are also collected by numismatists around the world. Notable New Zealanders such as Sir Peter Jackson and Sir Richard Taylor have designed coins for the New Zealand dollar. The New Zealand dollar coins are also used in the Pacific Islands nations of Tuvalu, Nauru, and Kiribati.

● Banknotes

The New Zealand dollar banknotes are issued by the Reserve Bank of New Zealand and feature a range of designs, including portraits of notable New Zealanders such as Sir Edmund Hillary and Kate Sheppard. The banknotes are printed by the De La Rue company and are made from a range of materials, including paper and polymer. The New Zealand dollar banknotes are used in everyday transactions, and are also collected by numismatists around the world. The New Zealand dollar banknotes have undergone several changes since their introduction, including the introduction of polymer banknotes and the removal of the $1 note. Notable New Zealanders such as Apirana Ngata and Whina Cooper have been featured on New Zealand dollar banknotes.

● Currency exchange

The New Zealand dollar is traded on the foreign exchange market and is subject to fluctuations in exchange rates. The Reserve Bank of New Zealand sets the official exchange rate, but the actual exchange rate may vary depending on the foreign exchange market. The New Zealand dollar is traded against a range of currencies, including the US dollar, the Australian dollar, and the Euro. The New Zealand dollar is also used as a reserve currency by some central banks, including the People's Bank of China and the Bank of Japan. Notable economists such as Alan Bollard and Don Brash have commented on the New Zealand dollar and its performance on the foreign exchange market.

● Economic impact

The New Zealand dollar has a significant impact on the New Zealand economy, with changes in the exchange rate affecting trade and investment. A strong New Zealand dollar can make New Zealand exports more expensive, while a weak New Zealand dollar can make imports more expensive. The Reserve Bank of New Zealand uses monetary policy to manage the New Zealand dollar and keep inflation under control. Notable New Zealanders such as Michael Cullen and Bill English have commented on the New Zealand dollar and its impact on the New Zealand economy. The New Zealand dollar is also closely watched by international organizations such as the International Monetary Fund and the World Bank. Category:Currencies of Oceania