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In the context of currency trading, the New Zealand dollar is sometimes informally called the "Kiwi" or "Kiwi dollar", [3] since the flightless bird, the kiwi, is depicted on its one-dollar coin. It is the tenth most traded currency in the world, representing 2.1% of global foreign exchange market daily turnover in 2019.
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.
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]
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The coins of the New Zealand dollar are used for the smallest physical currency available in New Zealand. The current denominations are ten cents, twenty cents, fifty cents, one dollar and two dollars. The $1 and $2 coins are minted in a gold colour, the 20c and 50c coins are silver colour and the 10c coin is plated in copper. Larger denominations of the New Zealand dollar are minted as ...
When Australia was part of the fixed-exchange sterling area, the exchange rate of the Australian dollar was fixed to the pound sterling at a rate of A$1 = 8 U.K. shillings (A$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
Initially, British and Australian coins circulated in New Zealand. The devaluation of the New Zealand pound relative to sterling in the 1930s led to the issue of distinct New Zealand coins in 1933, in denominations of 3d, 6d, 1/– (one shilling), 2/– (or florin) and 2/6 (half-crown), minted in 50% silver until 1946 and in copper-nickel from ...
The local name of the currency is used in this list, with the adjectival form of the country or region. ... New Zealand dollar – New Zealand, Cook Islands, Niue ...