The NZD, like the US Dollar, is made up of 100 cents.
|Table of contents|
2 Coins and Notes
4 External links
Features Ernest Rutherford, a New Zealand-born scientist who performed much early work in the investigation of the atom.
Features the mohua, a bird found in certain areas of the South Island.
|50 Dollars|| |
Features Apirana Ngata, a prominent Maori politician who worked to protect and rejuvenate Maori culture.
Features a type of kokako, a rare New Zealand bird.
|20 Dollars|| |
Features Queen Elizabeth II, the current monarch of New Zealand and other commonwealth realms.
Features the karearea, sometimes called the New Zealand Falcon.
|10 Dollars|| |
Features Kate Sheppard, the most important figure in the New Zealand women's suffrage movement.
Features the whio (also known as the blue duck), a rare bird from the country's mountainous areas.
|5 Dollars|| |
Features Edmund Hillary, a New Zealand mountaineer who co-led the team which first scaled Mount Everest.
Features the hoiho, or Yellow-eyed Penguin, one of the world's rarest penguin species.
The lack of one and two cent coins means that cash transactions are rounded to the (normally) nearest five cents. Some larger retailers (notably, one supermarket chain), in the interests of public relations, elected to always round down (so that $4.99 becomes $4.95 instead of $5.00). Alternatively many retailers rounded their prices to five cents to avoid the issue entirely - so a New Zealand shopper often encounters products for sale at prices like $4.95; and virtually all retailers accept electronic transactions though the EFTPOS system.
New Zealand notes, since 1999, have been printed on a plastic polymer instead of conventional paper. There was a slight controversy, but this move was mostly met with curiosity by the public. Such polymer notes have many advantages, notably a photocopy can effortlessly be distinguished from the real thing by touch, and many Kiwis have been thankful they can go though a washing machine with no ill effects. (Note that the picture below is out of date, and is of the previous paper issue.)
The value of the New Zealand dollar has been floating, i.e., determined by the financial markets, since March 4, 1985. Since then its value has been in the range of about 0.40 - 0.72 United States dollars, with a particularly low valuation during 2001. From July 9, 1973 until the float its value had been determined from a trade-weighted basket of currencies. Between December 23, 1971 and July 9, 1973 its value was linked to the United States dollar. Before December 23, 1971 it was linked to British sterling.