Exchange rate NZD - New Zealand dollar
The New Zealand dollar is the official currency of New Zealand. It operates also in the territories of the associated countries (Niue and Cook Islands) and dependent territories (Tokelau and Pitcairn). One New Zealand dollar divides into one hundred cents.
|New Zealand dollar
New Zealand dollar exchange rate - chart
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New Zealand dollar
The New Zealand dollar is the official currency of New Zealand and its affiliated countries and dependent territories. It divides into 100 cents. The New Zealand dollar is denoted by the international abbreviation NZD and also by the symbol $. The notation NZ$ is also used to distinguish it from the US dollar.
The New Zealand dollar - where is it used?
The New Zealand dollar is the official currency of New Zealand and the associated territories of Niue and the Cook Islands. It is also valid in the New Zealand dependent territory Tokelau, in the British colony Pitcairn and the Ross Dependency, to which New Zealand claims rights. If you are going to any of these places, it is worth checking the New Zealand dollar exchange rate (NZD/EUR, NZD/USD).
The history of the New Zealand dollar
The NZD has been in use in New Zealand since 1967. Earlier, the country used the pound sterling, which was divided into 20 shillings and 240 pence. A switch to a much less complicated decimal system was proposed in New Zealand in the 1930s. The plans were finally approved in 1963 and put into effect in 1967 with the New Zealand dollar's adoption. Initially, "Kiwi", "fern", or "zeal" were proposed as the name of the currency. There were concerns about using the word dollar, which was strongly associated with the US dollar. In the end, however, the New Zealand dollar was preferred, and NZD became the international symbol of the currency. During the transition period, the New Zealand dollar to sterling exchange rate was fixed at 2:1 - a pound was exchanged for $2, 10 shillings for a dollar, 10 cents for a shilling, and so on. For many years, the NZD exchange rate was closely pegged to the US dollar. This system was abandoned in 1985. Since then, the New Zealand dollar exchange rate has been dependent on many factors, as have most currencies around the world.
The NZD - key information
The New Zealand dollar splits into 100 cents. There are coins in circulation with denominations of 10, 20 and 50 cents, as well as 1 and 2 NZD. All of them on the obverse present a portrait of Queen Elizabeth II, the current reigning monarch of New Zealand. On the reverse, symbols refer to the history of the country and flora and fauna characteristic for this region, including the Kiwi bird. The Kiwi bird gives the currency its colloquial name - kiwi or kiwi dollar, used by, i.a., investors trading this currency. The banknotes are available in denominations of 5, 10, 20, 50 and 100 NZD. The obverse features portraits of well-known New Zealand personalities, including monarch Elizabeth II, and the reverse depicts local bird species against a landscape of New Zealand scenery. Each of the banknotes is also watermarked in the shape of a portrait of Elizabeth II. Interestingly, all New Zealand dollar bills are made of polymer. After Australia, New Zealand was the second country in the world to abandon paper banknotes in favour of more durable plastic.
The NZD exchange rate
The New Zealand dollar is among the most traded currencies in the world. In April 2019, NZD was the tenth most exchanged currency of our globe, being involved in more than 2% of all currency transactions. Exchanging NZD at a bureau de change can be a bit difficult sometimes. Therefore, before you travel to this country, you should use our online exchange office, where you can buy and sell and check the exchange rate of NZD.