The New Zealand dollar, symbol $ or NZ$, code NZD, is the official currency of New Zealand. The NZ dollar is subdivided into 100 cents, and is the tenth most traded currency in the world, accounting for 1.6% of the world’s daily trading as of 2010. The NZ dollar is often referred to as the kiwi, as the $1 coin bears an image of the kiwi bird and New Zealanders themselves are often called kiwis. The NZ dollar is managed by the Reserve Bank of New Zealand in Wellington.
The New Zealand dollar was introduced in 1967 to replace the New Zealand pound, which had itself replaced the pound sterling in 1933. When the NZ dollar was introduced at a rate of 2 NZD equal to 1 GBP. The dollar was initially pegged to the USD at a rate of 1 NZD equal to 1.62 USD, then to 1.12 USD later the same year. The NZ dollar was allowed to float beginning in March 1985. Beginning in 2013, the New Zealand dollar will be accepted alongside the Australian dollar in Nauru.
Name: New Zealand dollar
Symbol: $, NZ$
Decimal Unit: 100th cents
Coins: 10, 20, 50¢; N$1, 2
Notes: N$ 5, 10, 20, 50, 100
Central Bank: Reserve Bank of New Zealand
Country(ies): New Zealand
New Zealand dollars are currently circulated in values of 10 c, 20 c, 50 c and $1and $2 denominations. Dollar coins are composed of copper plated steel, aluminum bronze and nickel plated steel materials. Coins show an image of Queen Elizabeth II on their front side and national symbols of New Zealand on their reverse side. NZD banknotes in circulation include the denominations of $5, $10, $20, $50 and $100. The obverse side of NZD notes feature notable New Zealand figures, while the back side is adorned with images of native New Zealand flora and fauna. From 1999 onwards all the paper notes have been replaced with polymer varieties. The main colors used in the circulating bank notes include green, blue, orange, red and purple.