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As regards paper money, banknotes were issued by banks in England, Scotland, Ireland, Australia, and New Zealand. In 1910, Australia introduced its own coinage in the likeness of sterling coinage. It was much the same as the United Kingdom's coinage, differing mainly in the use of distinctive Australian symbols on the reverse.
At federation in 1901 and for a period afterwards, the currency used in the Australian colonies which became states consisted of British silver and copper coins, Australian minted gold sovereigns (worth £1) and half sovereigns, locally minted copper trade tokens (suppressed in 1881, some state earlier [8]) and private bank notes.
During the 1990s, the Australia and New Zealand Banking Group acquired several banks. In 1990, this included National Mutual Royal Bank in March [17] and the Town and Country Building Society in Western Australia in July. [18] That same year, ANZ purchased Lloyd Bank's operations in Papua New Guinea [19] and the Bank of New Zealand's operations ...
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Effective from 1 January 1983 the two countries concluded the Australia New Zealand Closer Economic Relations Trade Agreement (ANZCERTA) for the purpose of allowing each country access to the other's markets. Two-way trade between Australia and New Zealand was NZ$26.2 billion (approximately A$24.1 billion) in 2017–18, including goods and ...
New Zealand dollar banknotes are the banknotes in circulation in New Zealand, the Cook Islands, Tokelau, Niue and the Pitcairn Islands, [1] denominated in the New Zealand dollar (symbol: $; ISO 4217 currency code NZD, also abbreviated NZ$). They are issued by the Reserve Bank of New Zealand and since 1999 have been made of polymer. [2]
The coat of arms of the Reserve Bank of New Zealand. In 1934, the Reserve Bank of New Zealand was established as the country's central bank. Its primary objective was to regulate monetary policy, maintain price stability, and promote the stability and efficiency of the financial system.
By 1931, Australian coins made up approximately 30% of the total circulation in New Zealand. The devaluation of Australian and New Zealand exchange rates relative to the pound sterling led to New Zealand's Coinage Act 1933 and the issuing of the first coinage of the New Zealand pound. [9]