Interesting facts about New Zealand Dollar

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New Zealand dollars
New Zealand dollars

Did you know that New Zealand dollar is commonly called kiwi, name given after the national bird, which appears in the 1 dollar coins?

New Zealand Dollar or NZD is the official currency of New Zealand since 1967. This currency is also used in the Cook Islands, Niue, Tokelau and the Pitcairn Islands.

Prior to the acquisition of the New Zealand dollar, the currency in the country was the New Zealand pound, different from sterling pound since 1933.

The change to decimal currency to replace the system of the New Zealand pound had been proposed in New Zealand in the thirties, but it was not until the fifties that the project was launched. In 1957, the Government created a committee to carry out a research on the decimal currency and finally in 1963 the Government decided to divide the currency of New Zealand into tenths.

  • This currency is commonly called kiwi, name given after the national bird, which appears in the 1 dollar coins.

  • New Zealand dollar or NZD is one of the top ten currencies used in Forex.

The decimal currency act was passed in 1964, setting out the transition date for the 10th July 1967. Also, other names for the currency were suggested, such as kiwi or zeal, in order to avoid confusion with dollar, commonly associated to US dollar. In the end, the word dollar was chosen to call the national currency.

On the 10th July 1967 New Zealand dollar was introduced to replace the New Zealand pound, one pound equaling to two dollars. Around 27 million in banknotes were printed and 165 million in coins.

New Zealand dollar is the official currency of New Zealand, Cook Islands, Niue, Tokelau and Pitcairn Islands.

Today we have banknotes of 5, 10, 20, 50 and 100 New Zealand dollars. Regarding coins, we have coins of 5, 10, 20 and 50 cent and 1 and 2 dollars.

Photo credit: kalleboo via VisualHunt.com / CC BY