Kate Sheppard sits proudly on the ten-dollar note, as she should. This pioneering woman claimed this spot by being at the forefront of the women’s rights in New Zealand. In fact, through her efforts in the name of equality, New Zealand became the first country in the world to give women the right to vote. Fittingly, on the reverse side of this blue note is the New Zealand Blue Duck. Find them at most supermarkets, near banks and in petrol stations.

Although sometimes denoted as NZ$, the kiwi dollar is more commonly shown with a simple $ sign. Soon after, in 1973, the NZD released its peg to the dollar and its value was determined against a trade-weighted basket of currencies. Finally, in 1985, New Zealand instituted a floating exchange rate and the value of the NZD has been determined by the financial markets since.

However, every person who carries more than NZ$10,000 in cash in or out of New Zealand is required to complete a Border Cash Report(opens in new window). In 1986, New Zealand adopted Raphael Maklouf's new portrait of the Queen. The 1c and 2c coins were last minted for circulation in 1987, with collector coins being made for 1988. The coins were demonetised on 30 April 1990.[20] The lack of 1c and 2c coins meant that cash transactions were normally rounded to the nearest 5c (10c from 2006), a process known as Swedish rounding.

Recent NZD price action: Rate hike outlook dominates

The obverse side of each coin is imprinted with an image of Queen Elizabeth II. New Zealand was first a colony and then a Dominion within the British Empire before obtaining all but full independence in 1947. Although New Zealand’s been effectively self-governing since the early 1900s, it is still, as recognized in the country’s Constitution, “Her Majesty’s Government,” as a member of the British Commonwealth.

It is always indicated on signs outside petrol stations or at the pump. Pricing will depend on the location, time of year, and day of the week, so the below is just to give a general idea of cost. Use our accommodation finder to see price ranges for your specific needs.

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 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.

New Zealand Dollar to

In 1948, the New Zealand pound appreciated and was restored to the value of 12 shillings per pound sterling. However, in the 1950s, plans to decimalize New Zealand currency started to gain traction. The New Zealand dollar is a much more popular currency than the size of the country or its annual GDP would suggest. Use our currency converter to see how much your money is worth in New Zealand dollar and familiarise yourself with the mid-market rate before your trip. Australia ranks as New Zealand's second-largest trading partner (behind China), with the neighboring country accounting for 13.6% of New Zealand's total exports.

The RBNZ is the country’s central bank, responsible for making monetary and fiscal decisions, which in turn, impacts New Zealand's currency. The RBNZ, currently headed by Adrian Orr, holds monetary policy meetings seven times a year to maintain price stability, set interest rates, and monitor exchange rates. The New Zealand dollar floated on March 4, 1985, at what currency is used in new zealand an initial exchange rate against the U.S. dollar of 44 cents. Since then, the financial markets have determined the currency’s value, with the unit typically ranging between 39 and 88 cents against the greenback. The New Zealand dollar is colloquially referred to as the “kiwi,” a flightless bird native to New Zealand that appears on the country’s $1 coin.

Currency reserves for the New Zealand dollar

Those modern art and sculpture themed designs were leaked to a newspaper and met a very negative public reaction. The final releases were given more conservative designs in line with public expectations. The original New Zealand dollar banknotes all featured portraits of Queen Elizabeth. The coin denominations currently in circulation in New Zealand’s currency are 10 cents, 20 cents, 50 cents, one dollar, and two dollars. Previously existing denominations of 1 cent, 2 cents, and 5 cents were phased out of circulation between 1988 and 2006.

The New Zealand Dollar is the legal currency of the island nation of New Zealand. The country is actually made up of a collection of more than 600 islands that stretch over an area of 100,000 square miles. Its two main land masses are the North Islands and South Islands. New Zealand’s currency is also the legal tender in the Pitcairn Island and the Cook Islands, and in Tokelau, Niue, and the Ross Dependency, a region in Antarctica claimed by New Zealand. The RBNZ is expected to maintain its rate hike pace as inflation in the country trended at a 30-year high of 7.2%. The central bank’s target in the second quarter of 2022 came in above the target range of 1% to 3%.

All currency reserves are only held as foreign currencies, special drawing rights in the International Monetary Fund and other reserve positions. Use Wise for fast, low-cost, and secure online money transfers from the United Kingdom to New Zealand. You can pay by credit or debit card pretty much everywhere in New Zealand. Simply top up your card and convert to the currency you need in real time using the Wise app. Due to the discontinuation of 1c, 2c and 5c pieces, purchases made in New Zealand are subject to “rounding” of amounts either up or down.

NZD/EUR

The peak times are around Christmas and high summer (December through to early March) across the country, and in winter (June to August) for popular ski areas such as Queenstown and the central North Island. It is advisable to book well ahead if you’re planning to travel over those periods. Visiting in the low or shoulder seasons in between can mean better deals and more choice. Whether now is the good time to buy NZD depends on your personal circumstances, risk tolerance and how much you intend to invest. You should do your own research to develop a view of the currency as an investment.

• The changeover period started on 31 July 2006, with the old coins usable until 31 October 2006.[20] The old 50c, 20c, 10c and 5c pieces are now no longer legal tender, but are still redeemable at the Reserve Bank.
• Altogether it has five coins and five banknotes with the smallest being the 10-cent coin; smaller denominations have been discontinued due to inflation and production costs.
• The currency code for Dollars is NZD, and the currency symbol is $.
• The New Zealand Dollar (NZD) is the official currency of New Zealand.

You can exchange foreign currency for New Zealand currency at banks, some hotels and Bureau de Change kiosks, which are in international airports and most city centres. All major credit cards are accepted in New Zealand, with Visa and Mastercard the most widely used. New Zealand’s central bank, the Reserve Bank of New Zealand, chose to drop the kiwi’s peg to the US dollar when the United States abandoned the gold standard in 1971. From then until 1985, the New Zealand dollar value was pegged to a trade-weighted basket of currencies.

This New Zealander basically led the charge when it came to our ideas of modern chemistry. He lived a very notable (sorry) life, but is most famous for his work with the atom. Specifically, it was Rutherford who discovered that the atom was mostly empty and built around a solid, central nucleus. Obviously, this harks back to when New Zealand was a far-flung offshoot of the British Empire. The other side of the twenty-dollar note has a rather diffident looking bird on. They aren’t a rare bird, but they are certainly something to see when you catch a glimpse of them.

• If you need to exchange foreign currency for New Zealand dollars, you can do so at banks, currency exchange offices, and some hotels.
• Tipping in New Zealand is not obligatory, even in restaurants and bars.
• The coins were demonetised on 30 April 1990.[20] The lack of 1c and 2c coins meant that cash transactions were normally rounded to the nearest 5c (10c from 2006), a process known as Swedish rounding.
• Up until then the pound was divided into twenty shillings, and each shilling was was divided into twelve pence.
• If you do want to tip someone in New Zealand, it is usually sufficient to round up the bill to the nearest dollar or leave a small amount of change or note.

They frequently cruise over the highways looking for roadkill, and the bigger ones have been known to carry off newborn lambs. The NZD/USD and AUS/USD forex pairs have a correlation coefficient of +0.90. Thus, the New Zealand pound became distinct from the pound sterling in 1933.

New Zealand Dollar to United States Dollar

Interestingly, polymer bills can go through a washing machine without suffering any material damage. In 2015, the Reserve Bank of New Zealand (RBNZ) currency updated the currency, with even more bright colors and updated security features. There is no restriction on the amount of foreign currency that can be brought in or taken out of New Zealand.

We are committed to go as far as possible in curating our trips with care for the planet. That is why all of our trips are flightless in destination, fully carbon offset - and we have ambitious plans to be net zero in the very near future. Twenty bucks will get you twelve ice-cold beers from the supermarket… when they’re on special. It’ll also get you about ten litres of petrol which means you’ll be able to drive to your ten-dollar a night campsite to enjoy your beverages. This is the note on which you’d be most likely to recognise the person.

Keep in mind that past performance is no guarantee of future returns. It was nicknamed the ‘kiwi’ due to the appearance of the country’s native bird on the nation’s bank notes. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods.