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- New Zealand Dollar
NZD - New Zealand Dollar
Importance of the New Zealand Dollar
The New Zealand Dollar (NZD) is the official currency of New Zealand. It is considered to be a stable currency. This is a result of New Zealand's strong economy which is strictly connected with the tourism business. Moreover, New Zealand has a high growth rate with a strong GDP playing a leading role in a strong economy. Many international companies and banks are based in New Zealand giving the country a high Forex turnover compared with its GDP as well as the constant currency swap that leads to minimizing any FX risks. Last but not least, the importance of the New Zealand dollar is connected with the constant exports and imports which play a significant role in the country’s economy.
Introduction of the New Zealand Dollar.
The New Zealand Dollar was used from the 1800s but it wasn’t declared as an official currency until 1933 when New Zealand issued the first coins which were based on the British sterlings. From the beginning of its circulation, the NZD was pegged with the USD until the March of 1985 when the currency was allowed to float. The Reserve bank of New Zealand was established in 1934. It was the only supplier of the NZD banknotes. The New Zealand currency faced various changes until 1999 when it was produced for the first time polymer or plastic versions of the NZD making the currency more secure.
Freq Used: $5, $10, $20, $50, $100 Rarely Used: No longer in use: $1, $2
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