New Zealand Dollar (NZD) Profile

$, or NZ$

1/100,  cent; symbol: c
NZ$1, NZ$2, 10c, 20c, 50c
 
NZ$5, NZ$10, NZ$20, NZ$50, NZ$100
 
Reserve Bank of New Zealand (www.rbnz.govt.nz)

1.New Zealand and its territories of Tokelau, Cook Islands, Niue.
2. It’s also used by Nauru and British overseas territory of Pitcairn Island.

1.Nickname: kiwi
2.New Zealand dollar is pegged by Cook Island dollar, Niue dollar and Pitcairn Islands dollar,all at par.

New Zealand dollar users

The New Zealand dollar is the currency of New Zealand and is also used in its territories of Tokelau, Cook Islands, and Niue. It is also used in the British overseas territory of Pitcairn Island and the country of Nauru.

Users of New Zealand dollar (Currency code: NZD)
Political entities Currency name Notes
New Zealand New Zealand dollar 1. New Zealand is an island country in the southwestern Pacific Ocean.
2. New Zealand introduced New Zealand dollar (NZD) in 1967.
Nauru New Zealand dollar 1. Nauru(officially the Republic of Nauru), formerly known as Pleasant Island, is an island country in Micronesia in the South Pacific.
2.Nauru will adopt Australian dollar (AUD) from 25 May 2013, using alongside New Zealand dollar (NZD).
Ross Dependency New Zealand dollar 1.Ross Dependency is New Zealand territory.
2.Ross Dependency is a region of Antarctica at the South Pole.
Tokelau New Zealand dollar Tokelau is New Zealand territory with no permanent population.
Cook Islands
Cook Islands dollar &
New Zealand dollar		 1. Cook Islands is New Zealand associated territory with self-governing.
2. Cook Islands dollar coins were issued in 1972, followed banknotes issued in 1987.
3. Cook Islands dollar is pegged with New Zealand dollar (NZD) at par.
Niue
Niue dollar &
New Zealand dollar		 1. Niue is New Zealand associated territory with self-governing.
2. Niue uses two official legal tender currencies of Niue dollar and New Zealand dollar, pegged by at par.
3. Niue dollar coins were issued in 2009 with same size, coloration and relative weight but of different metallic composition comparing with New Zealand dollar.
Pitcairn Island (UK) New Zealand dollar & Pitcairn Islands dollar 1. Pitcairn Island is British overseas territory.
2. Only New Zealand dollar coins and banknotes are in circulation.
3. Pitcairn Islands dollar is not for circulation but more for coin collecting market use.

New Zealand adopted the Statute of Westminster in 1947 and became a Commonwealth realm.

Commonwealth realm

A Commonwealth realm is a sovereign country within the Commonwealth of Nations, which now consists of 16 Commonwealth realms:

  • Antigua and Barbuda
  • Australia
  • Bahamas
  • Barbados
  • Belize
  • Canada
  • Grenada
  • Jamaica
  • New Zealand
  • Papua New Guinea
  • Saint Kitts and Nevis
  • Saint Lucia
  • Saint Vincent and the Grenadines
  • Solomon Islands
  • Tuvalu
  • United Kingdom

Except for Papua New Guinea and the United Kingdom itself, the other fourteen realms are former British colonies. The United Kingdom is the original realm from which other realms became independent, and Papua New Guinea obtained independence from Australia on 16 September 1975. The first Commonwealth realm is Canada, which adopted the Act of Statute of Westminster 1931 and granted full autonomy, followed by Australia and New Zealand. Each later twelfth realm (except the United Kingdom itself) was created by an instant grant of independence.

The Commonwealth of Nations, also known as the Commonwealth or British Commonwealth, is an intergovernmental organization consisting of 54 independent member states, most of which were part of the British Empire.

Sixteen Commonwealth realms (Established Since 1931 -present)
Realms Since Location-Continent Currency name Code Currency notes
Antigua and Barbuda 1981 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1USD = 2.70 XCD
Australia 1942 <2> Oceania Australian dollar AUD Pegged by Tuvaluan dollar and Kiribati dollar at par
Bahamas 1973 North America Bahamian dollar BSD Pegged with the U.S. dollar at par
Barbados 1966 North America Barbadian dollar BBD Pegged with the U.S. dollar
at 1 USD= 2 BZD
Belize 1981 North America Belize dollar BZD Pegged with the U.S. dollar
at 1 USD = 2 BZD
Canada 1931 <2> North America Canadian dollar CAD  
Grenada 1974 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1USD = 2.70 XCD
Jamaica 1962 North America Jamaican dollar JMD  
New Zealand 1947 <2> Oceania New Zealand dollar NZD Pegged at par by Cook Islands dollar, Niue dollar and Pitcairn Islands dollar.
Papua New Guinea 1975 <3> Oceania Papua New Guinean kina PGK  
Saint Kitts and Nevis 1983 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1USD = 2.70 XCD
Saint Lucia 1979 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1USD = 2.70 XCD
Saint Vincent and the Grenadines 1979 North America East Caribbean dollar XCD Pegged with the U.S. dollar
at 1USD = 2.70 XCD
Solomon Islands 1978 Oceania Solomon Islands dollar SBD  
Tuvalu 1978 Oceania Australian dollar AUD alongside New Zealand dollar from 25 May 2013 which is pegged with AUD at par.
United Kingdom <1> Europe Pound sterling GBP  

Notes:
<1> The U.K was the original realm from which other realms became independent.
<2> Austria, Canada, New Zealand adopted the Act of Statute of Westminster 1931 and granted full autonomy.
<3> Papua New Guinea obtained independence from Australia on 16 September 1975.

New Zealand dollar history

The New Zealand dollar replaced the New Zealand pound (NZP) at a rate of 1 NZP = 2 NZD (either way, 1 dollar = 10 shillings) in 1967 when New Zealand decimalized its currency. The New Zealand pound was used by New Zealand from 1840 to 1967 and was subdivided into 20 shillings (symbol: s) with 1 shilling = 12 pence (symbol: d).

New Zealand dollar coins and banknotes

The New Zealand dollar is subdivided into 100 cents. Currently, in circulation, coins are in denominations of 10, 20, 50 cents, 1, 2 dollars, and banknotes are in denominations of 5, 10, 20, 50, 100 dollars.