The New Zealand dollar is the legal tender of New Zealand, Cook Islands, Niue, Tokelau and Pitcairn Island. The denominations of coins are 10, 20, 50, 1 yuan and 2 yuan, and the denominations of banknotes are 5 yuan, 10 yuan, 20 yuan, 50 yuan and 100 yuan.

In banks, some hotels, international airports and exchange offices in big cities, foreign currency can be easily converted into New Zealand dollars. All major credit cards can be used in New Zealand. Hotels, banks and some shops accept traveler's checks.

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The history of the New Zealand dollar

Before 1840, the currency circulating in the New Zealand market was mainly British coins, but also some coins from France, the Netherlands and other countries. Paper money is rare, usually issued by private banks, and its 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.

1934, New Zealand established the Reserve Bank, exercised the functions of the central bank, and began to issue unified banknotes. After 196 1 joined the International Monetary Fund, New Zealand stipulated that the gold content of the New Zealand pound was 2.47 130g. By the end of 1984, almost all foreign exchange controls had been 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.

Baidu Encyclopedia-NZD