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The New Zealand dollar is among the 10 most-traded currencies. [4] On 11 June 2007 the Reserve Bank sold an unknown worth of New Zealand dollars for nine billion USD in an attempt to drive down its value. This is the first intervention in the markets by the Bank since the float in 1985.
Alternatively the slash may be omitted, or replaced by either a dot or a dash. A widely traded currency pair is the relation of the euro against the US dollar, designated as EUR/USD. The quotation EUR/USD 1.2500 means that one euro is exchanged for 1.2500 US dollars. Here, EUR is the base currency and USD is the quote currency (counter currency).
Decimalisation of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar. On the same day, new decimal banknotes were introduced to replace the existing pound banknotes, in denominations of $1, $2, $5, $10, $20, and $100. [2] [4]
The coins of the New Zealand dollar are used for the smallest physical currency available in New Zealand. The current denominations are ten cents, twenty cents, fifty cents, one dollar and two dollars. The $1 and $2 coins are minted in a gold colour, the 20c and 50c coins are silver colour and the 10c coin is plated in copper. Larger denominations of the New Zealand dollar are minted as ...
Fixed currency Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin: U.S. dollar: 1.79
The Cook Islands dollar was the former currency of the Cook Islands, which now uses the New Zealand dollar, although some physical cash issued for the Cook Islands dollar remains in use. The dollar was subdivided into 100 cents , with some older 50-cent coins carrying the denomination as "50 tene ".
Niue, a country in free association with New Zealand, uses only one official legal tender currency, which is the New Zealand dollar. [1]Before the creation of the New Zealand dollar in 1967, Niue was a user of the New Zealand pound [1] and its very early commemorative coins of Niue were in pound or shilling increments.
The Reserve Bank controls the issuing of currency to banks and also replaces used and damaged money from circulation. In March 2005, the bank decided to remove the 5 cent coin from circulation (the following year), as well as reducing the size of 10, 20 and 50 cent coins. [22]