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The New Zealand dollar was initially pegged to both the British pound sterling and the United States dollar at NZ$1 = UK£ 1 ⁄ 2 = US$1.40. On 21 November 1967 sterling was devalued from UK£1 = US$2.80 to US$2.40 (see Bretton Woods system ), but the New Zealand dollar was devalued even more from NZ$1 = US$1.40 to US$1.12, to match the value ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
Prior to 1985 the New Zealand dollar was controlled centrally by the Reserve Bank of New Zealand at an exchange rate fixed to the United States dollar.In early 1984 the Deputy Governor of the Reserve Bank, Roderick Deane, became concerned that the New Zealand dollar had become significantly overvalued and was vulnerable to currency speculation on the financial markets in the event of a ...
In 1984, private and public foreign debt was NZ$16 billion (NZ$50 billion in March 2013 dollars), which was less than half New Zealand's GDP at the time. By March 2013, total foreign debt stood at NZ$251 billion, well over 100% of New Zealand's GDP.
This is a list of regions of New Zealand by nominal GDP, in New Zealand dollar and US dollars in 2023. [1] GDP in billion US$, 2023. ... New Zealand: 389.145: 239.013:
On 21 September 2012, while on a visit to New Zealand, US Secretary of Defense Leon Panetta announced that the United States was lifting the 26-year-old ban on visits by New Zealand warships to US Department of Defense and US Coast Guard bases around the world [71] "These changes make it easier for our militaries to engage in discussions on ...
Currency substitution is the use of a foreign currency in parallel to or instead of a domestic currency. [1]Currency substitution can be full or partial. Full currency substitution can occur after a major economic crisis, such as in Ecuador, El Salvador, and Zimbabwe.
New Zealand is a predominantly urban country, with 84.3% of the population living in urban areas, and 51.0% of the population living in the seven cities with populations exceeding 100,000. [311] Auckland, with over 1.4 million residents, is by far the largest city. [311] New Zealand cities generally rank highly on international livability measures.