The islands of New Zealand are in the South West Pacific not far from Australia. This country has a mixed economy with industrial and agricultural products playing a large role in the export economy. Tourism is also a significant factor. The currency consists of the dollar. It trades at a rate of 100 cents equal 1 dollar under the initials NZD.
History
New Zealand currency dates back only as far as the 18th and 19th centuries. Abel Tasman, a Dutch explorer first noted the islands for the European continent in 1642, but Captain Cook claimed New Zealand for Britain in 1769. Colonization did not follow until the 19th century. No local currency was minted in New Zealand. In fact, money played no significant role in the development of the islands until the discovery of gold in the 1850s. This accelerated the need for a monetary system as immigration increased during the 1850s and 1860s.
The tender for New Zealand became a mixed mélange of Spanish-American, French, Indian and British coins during the early 19th century. Whalers and traders used their own money to make trades with the Maori and each other. In the 1850s, the legal tender became the British coin of the realm, but their was not enough to handle the demands. The result was the creation of private tokens in both copper and bronze. Between 1857 and 1861, there were around 150 varieties of private money circulating in New Zealand.
The first coinage designed with New Zealand in mind did not arrive until 1933. These were the traditional three pence, sixpence, shillings, florins and crowns. The coins were joined by halfpennies and pennies. They all came from the mints in Britain. All bore the portrait of the British ruler. The coinage changed little during the successive decades until 1967 when New Zealand abandoned the British system and opted for the dollar/cent decimal one. The new coins still bore the head of state, Queen Elizabeth by Arnold Machin. This portrait was changed to that by Raphale Maklouf in 1986. The currency also altered in denominations. The 1, 2 and 5-cent coins were eliminated. The 1 and 2-dollar bills were replaced by coins. The result, today, is a system where the merchant rounds off purchase price to the nearest whole number. Today, coins come in denominations of 10, 20 and 50-cents and 1 and 2-dollars. Banknotes are in bills of 5, 10, 20, 50 and 100-dollars.
Obtaining New Zealand Dollars
It is easy to obtain local currency in New Zealand. You can exchange your own currency at banks, Bureau de change and a few hotels. You can locate banks in most towns and cities. Moneychangers are often in airports as well as cities and towns. You can also utilize automated banking systems. These ATMs are widely available across New Zealand. You can find them in malls, at banks and in major shopping areas.
Protecting Your Currency
Crime is rare in New Zealand. Petty theft does occur in tourist regions, recreational areas and from hotel rooms. Exercise caution in places where street crime is at higher levels. Take the usual precautions.
Using Your New Zealand Dollars
The New Zealand dollar is a viable form of currency throughout the country. Use it wherever applicable. Employ it to purchase local food and drink. Rent equipment for diving and beach paraphernalia. Go shopping with it. You can purchase Maori woodcarvings. You can also spend money obtaining Maori carvings of bone or pounamu – jade or green stone. There are also jewelry and ornaments of pausa shell to bring home as souvenirs and gifts. New Zealand also has fine pottery and other products such as sheep skins and wool wall hangings.
Travel Tips and Warnings
- While visiting New Zealand, be sure to spend time in Aukland, “city of sails.” Here, you can fish, sail, dive and swim to your heart’s content.
- Head to Queenstown and Lake Wakatipu.
- Visit Fiordland National Park, with the Southern Alps and the Jura Glacier, or Mount Cook National Park.
- Go to Wellington and shopping in Lambton Quay. There is also the intriguing architecture of the “Beehive” and the city’s Botanical Gardens.
- Go further up the coast and visit the country’s Chocolate Factory or Southwards Car Museum.
- If you are a Tolkein fan, be sure you follow the route of the movies new Wellington.
Overview
New
Zealand is a place of volcanic beauty. The scenery of this split island
in the Southwest Pacific is wild and beautiful. Tourism is a prominent
part of this country’s growing economy.
For factual information and data, go to www.newzealand.com. For travel information, see www.nz.com.
Currency Summary
Current currency: dollar
100 cents equal 1 dollar
Coins: 10, 20 and 50-cents; 1 and 2-dollars
Banknotes: 5, 10, 20, 50 and 100-dollars