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The final releases were forexee given more conservative designs in line with public expectations. The official currency in Wellington is the New Zealand dollar. Card holders get some free ATM withdrawals available every month, and there’s no annual or monthly fees to pay, and no minimum balance requirement.
- Since 1999, the New Zealand government has produced polymer or plastic versions of the New Zealand dollar, which has made the note more secure against counterfeiting.
- This includes food, transport, activities… Basically, anything you might need to pay for while you are in New Zealand.
- This guide covers all you’ll need to know about the official currency in New Zealand , where to get it and how to keep your costs down during your trip.
- The financial markets have since determined the currency’s value with the unit typically ranging between 39 and 88 cents against the greenback.
- The country’s top industries include agriculture, dairy, forestry, fishing, mining, and tourism.
Due to the discontinuation of the 1 cent, 2 cent and 5 cent coins, when buying something in cash, the retailer will either “round” the price of the good up or down. A price ending in 1, 2, 3 or 4 cents will be rounded down to the nearest multiple of 10, while 6, 7, 8 and 9 cents are usually rounded up to the nearest multiple of 10. What happens when the price ends in 5 cents is up to the retailer. For example, a purchase of NZ$25.13 would be rounded down to NZ$25.10 and a purchase of NZ$25.19 would be rounded up to NZ$25.20. The unit of currency in New Zealand is the New Zealand Dollar, often seen written as “NZD” or “NZ$”.
How to convert New Zealand dollars to US dollars
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The currency code for Dollars is NZD, and the currency symbol is $. Below, you’ll find New Zealand Dollar rates and a currency converter. New Zealand currency has had a long history of over 160 years. In fact, during the 1800s, New Zealand used its coins and banknotes before British currency was even legal currency.
A decade later, the Reserve Bank of New Zealand was established. Here’s a quick overview of a couple of handy travel debit cards you may want to order and use in New Zealand . Here’s a full rundown of the NZD coins and banknotes you’ll need to be familiar with when you’re in New Zealand .
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The original notes Forex momentum strategy had a variety of designs, including that of a kiwi, the nation’s Coat of Arms, Maori King Tawhiao, and Fiordland’s Mitre Peak. The New Zealand dollar contributes greatly to the total global exchange market—far in excess of New Zealand’s relative share of population or global GDP. The most recent issue of New Zealand banknotes is the seventh series, first released in October 2015 and May 2016. On the introduction of the dollar, coins came in denominations of 1c, 2c, 5c, 10c, 20c, and 50c.
Understanding the NZD (New Zealand Dollar)
When planning a trip or a working holiday, it’s good to know what to expect from the cost of living. This includes food, transport, activities… Basically, anything you might need to pay for while you are in New Zealand. For this reason, we have put together the following articles to give you an idea of the cost of living in New Zealand. For information on opening a New Zealand bank account, see How to Open a New Zealand Bank Account.
This article has been reviewed and approved by Robin, who is the co-founder of NZ Pocket Guide. With more than 15 years of experience in the New Zealand tourism industry, Robin has co-founded three influential tourism businesses and five additional travel guides for South Pacific nations. He is an expert in New Zealand travel and has tested over 600 activities and 300+ accommodations across the country.
Several countries use the U.S. dollar as their official currency, and many others allow it to be used in a de facto capacity. However, generally having a few different payment methods is a good plan. That means that if a merchant won’t accept one, you’ve got a back up. It’s also reassuring to know you have a different way to pay if you were unlucky enough to have a card or some travel cash stolen.
This guide to New Zealand currency will go through how money is commonly using in New Zealand, from currency values to banking in New Zealand to the Goods and Services Tax. A floating currency is one with value that is permitted to change as it’s compared to other currencies. Australia ranks as New Zealand’s second-largest trading partner behind China. The neighboring country reports 6.2% of New Zealand imports in 2023. The performance of Australia’s economy has a significant impact on the New Zealand dollar as a result.
On 11 November 2004 the Reserve Bank announced that it proposed to take the 5c coin out of circulation and to make the 50c, 20c and 10c coins smaller and use plated steel to make them lighter. After a three-month public submission period that ended on 4 February 2005, the Reserve Bank announced on 31 March that it would go ahead with the proposed changes. The changeover period started on 31 July 2006, with the old coins usable until 31 October 2006.19 The old 50c, 20c, 10c and 5c pieces are now no longer legal tender, but are still redeemable at the Reserve Bank. The U.S. dollar is the currency most used in international transactions.
Introduced in 1840, the New Zealand Pound was the first official currency of New Zealand. Until that point, both British and Australian coins circulated in New Zealand, and continued to do so until 1897. The Pound banknotes were produced by the six different trading banks until 1924, when a single uniform design fintech software development was implemented.