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HSBC chief economist for Australia and New Zealand, Paul Bloxham, was so impressed that he predicted New Zealand's growth would outpace most of its peers, and he described New Zealand as the "rock star economy of 2014". [87] Another financial commentator said the New Zealand dollar was the "hottest" currency of 2014. [88]
The New Zealand dollar (Māori: tāra o Aotearoa; sign: $; code: NZD) is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands. [2] Within New Zealand, it is almost always abbreviated with the dollar sign ($).
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.
The Australia New Zealand Leadership Forum is a business-led initiative designed to further develop Australia and New Zealand's bilateral relationship as well as their joint relations in the region. The ninth and most recent such convened on 9 April 2011. [134] [135]
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]
New Zealand and Australia have a strong relationship and are considered to have a shared Trans-Tasman identity between ... The currency is the New Zealand dollar, ...
[1] for distinction) was the currency of New Zealand from 1933 until 1967, when it was replaced by the New Zealand dollar. Prior to this, New Zealand used the pound sterling since the Treaty of Waitangi in 1840. Like the pound sterling, it was subdivided into 20 shillings (abbreviation s or /) each of 12 pence (symbol d).
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.