The New Zealand dollar (currency code: NZD, currency symbol: NZ$) is issued by reserve bank of new zealand, the central bank of New Zealand, and is the legal tender of New Zealand, Cook Islands, Niue, Tokelau and Pitcairn Island.
Interest rate policy:
On June 20 13 13, New Zealand Bank (RBNZ) announced that it would keep its benchmark interest rate unchanged at 2.5%. The Federal Reserve said it expected to keep interest rates unchanged for the remaining time of 20 13, because despite the accelerated economic growth, it still believed that the inflation risk was under control.
London-The New Zealand dollar performed well at the beginning of this week, but now its popularity has fallen sharply.
At first glance, it seems that the New Zealand dollar is expected to break through the annual high of $0.7740, and even the Australian dollar may resume its upward trend.
However, all optimistic expectations vanished on Thursday.
The Bank of New Zealand raised interest rates as scheduled, but then significantly downplayed the possibility of further interest rate hikes.
Extended data:
An introduction to the meta-history of New Zealand;
Before 1840, the currency circulating in the New Zealand market was mainly British coins, in addition to coins from France, the Netherlands and other countries. There are few banknotes, which are generally issued by private banks, and their use is limited to large payments.
1840, the first governor of New Zealand declared all coins circulating in New Zealand as legal tender according to the Royal Mint Act of 18 16, including all kinds of coins made of gold, silver and copper. 1870, New Zealand implemented the "Royal Coin Act", making the Royal Coin the official currency.
The use of paper money increased during this period. Six banks issue their own banknotes. These banknotes have different specifications and designs, so it is difficult to exchange them with each other. By 1924, these banks have unified the specifications and colors of banknotes, but they are still unable to exchange them with each other.
1934, New Zealand established the Reserve Bank as the central bank and began to issue unified banknotes. The denomination of paper money is 1, 5, 50 pounds, and the decimal system is implemented. After New Zealand joined the International Monetary Fund at 196 1, the gold content of the New Zealand pound was 2.475438+030g.
1967 issued a new decimal currency, New Zealand Dollar, with a gold content of 1.23565g, which was linked to the pound. After the floating exchange rate of 197 1, the New Zealand dollar was pegged to the US dollar. 1973 when the dollar depreciated again, the new Zealand government announced that it would abandon the link between the new Zealand dollar and the dollar and implement a managed free float. The effective exchange rate value is determined by a basket of currencies of the country's major trading partners.
1In August 1983, reserve bank of new zealand cancelled the daily setting of the exchange rate of the US dollar and allowed the NZD to fluctuate with the changes in the international financial market. At the end of 1984, foreign exchange control was almost completely abolished.
1985, New Zealand adopted a flexible exchange rate system, and reserve bank of new zealand stopped quoting the official trading price of the New Zealand dollar, but allowed the central bank to intervene in the market when the market failed, and at the same time ended its peg to a basket of trade-weighted currencies.