The New Zealand dollar is a monetary unit, which is a legally established payment instrument in several states and territories at once. These include New Zealand, Cook Islands, Tokelau, Niue and Pitcairn. According to the adopted international standard ISO 4217, the New Zealand dollar is assigned a digital designation of 554 and a letter designation of NZD. In addition, the officially accepted abbreviation of the banknote NZ $ is applied, which is located before writing the amount.
Currency History
The use of the New Zealand dollar as a monetary unit dates back to 1967. It was then that he was launched into circulation. Initially, the ratio of the new currency and the New Zealand pound, which was used in trading until 1967, was one to two. It will be useful to say that the New Zealand dollar is sold in an amount that is only slightly inferior in this indicator to its counterpart from Australia. This is facilitated by the high activity of New Zealand on world markets, as well as the close cooperation of the state in trade and political spheres with many countries of the rest of the world. In addition, the demand and quotes of the New Zealand dollar are greatly influenced by the agricultural and raw materials market.
New Zealand most of the history of the monetary sphere depended on its metropolis of Great Britain and, accordingly, on the monetary strategy of the Royal Mint and then the Bank of England. Only from the middle of the 19th century, the process of gaining independence and the possibility of independent management was launched on the islands. Nevertheless, it was only in 1907 that the question of introducing one's own currency was first raised. It became the New Zealand pound, which was launched in cash instead of the British pound and Australian coins. Such a monetary policy lasted 60 years, when the country's leadership decided to switch to using the New Zealand dollar. The new currency was not supported by the British currency. In addition, a decimal system was introduced.
Emission. Currency denominations
To date, there are cash bills in denominations of 5, 10, 20, 50 and 100 dollars. In addition, the New Zealand dollar is used in circulation in the form of coins in denominations of 1 and 2 dollars, as well as 10, 20 and 50 cents. The Reserve Bank of New Zealand has the right to issue New Zealand currency. An interesting fact is that since 1999, bank notes have not been issued on paper, but on a polypropylene basis. That is, in the same way as in Australia. This technology allows you to increase the durability of banknotes and protect them from damage of various kinds.
Design of banknotes and coins.
The main symbol of the state of New Zealand is the kiwi bird, which is widely represented on banknotes and coins. However, almost all coins are made with a printed portrait of Queen Elizabeth II of Great Britain. This is because the form of government in New Zealand is a parliamentary monarchy. It will be worth mentioning that the New Zealand dollar has a very beautiful design, which is rightly called one of the most attractive among existing currencies. In addition, it is very informative and contains a presentation of the rich culture and nature of the country. It should also be emphasized that, like on Australian dollar bills , banknotes of New Zealand depict portraits of cultural and historical figures who had a significant impact on the formation and development of the young state and nation.
New Zealand Dollar
It should be noted that the island state banknotes are one of the first world currencies without a strictly fixed rate. Initially, the dollar was most influenced by the dollar. On the one hand, this was due to close trade and economic cooperation between the two countries, and on the other, due to the borrowing of managerial principles and methods of industrial development from the United States. To date, the rate of the New Zealand dollar primarily depends on the export ratio in the agricultural sector, fisheries, as well as the seafood processing industry. In addition, such branches of the economy as the forestry and woodworking industries have a significant impact on the national currency . New Zealand's main trading partners are Australia, the USA, Japan and China. By the way, it will be emphasized that about 70% of export is realized according to the agreements that were reached as part of the Asia-Pacific Economic Cooperation. This is due to agreements on the need for the development of the region. The New Zealand dollar to ruble has a rate of approximately 0.02 to 1.
Features of the formation of the value of the New Zealand currency
At the same time, the foreign economic activity of the Government of New Zealand is not aimed only at developing relations with APEC. Along with cooperation with countries in the Pacific, the state is building mutually beneficial ties with the European Union and the Middle East. The main attention is paid to increasing the volume of export deliveries to these states and associations. It should be noted that due to the highly developed mining industry of New Zealand, the country is sufficiently provided with raw materials and energy. There is a need for oil imports, the production of which is decreasing every year. In all other respects, New Zealand is a self-sufficient country. The export earnings of local producers are practically independent of world oil prices, which is why the New Zealand dollar against the ruble has a stable position.
Taking into account the above features of the economy and national economy of New Zealand, as well as the country's focus on exporting its products, it is highly likely to predict in the short term the rate that the New Zealand dollar will have against the main world currencies. First of all, the situation on the agricultural market and weather conditions in the region affect the quotes of the national currency of New Zealand on world financial markets .
Commemorative Coins of New Zealand
In conclusion, it should be noted that today commemorative coins issued by the Reserve Bank of New Zealand are presented on the numismatic market. Where to buy a New Zealand dollar for my collection? It’s easy to find such coins today. Silver New Zealand dollar can be purchased, for example, in Sberbank of Russia.