New Zealand Currency

Official Currency of New Zealand

The official currency of New Zealand is the New Zealand dollar, which has the currency code NZD. To distinguish it from other dollar currencies used in different countries, it is generally abbreviated as $ or NZ$. The Kiwi Dollar is divided into 100 cents and is one of the 16 currencies used for trading purposes worldwide.

In 1967, New Zealand introduced coins in denominations of 1, 2, 5, 10, 20, and 50 cents. The 1 and 2 cent coins were minted in bronze, while the 5, 10, 20, and 50 cents were all made of cupro-nickel. Until 1970, all 10-cent coins had the legend “one shilling” and featured a portrait of Elizabeth II by the artist Arnold Machin. In 1986, the government of New Zealand adopted a portrait of the Queen by Raphael Maklouf on every side of the coin. The 1 and 2-cent coins were minted at the last moment and were circulated in 1987. These coins were demonetized on May 1, 1990.

In 1990, New Zealand introduced aluminum-bronze coins in denominations of 1 and 2 dollars, which replaced the existing $1 and $2 notes. In 1999, a new portrait of the Queen by Ian Rank-Broadley was introduced, and the legend was rearranged to read as “NEW ZEALAND ELIZABETH II.”

Currently, the older 50, 20, 10, and 5-cent coins are no longer in use and are no longer legal tender. However, some of these coins can still be redeemed at the Reserve Bank.

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