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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 ...
Decimalisation or decimalization (see spelling differences) is the conversion of a system of currency or of weights and measures to units related by powers of 10.. Most countries have decimalised their currencies, converting them from non-decimal sub-units to a decimal system, with one basic currency unit and sub-units that are valued relative to the basic unit by a power of 10, most commonly ...
The New Zealand dollar was initially pegged to both the British pound sterling and the United States dollar at NZ$1 = UK£ 1 ⁄ 2 = US$1.40. On 21 November 1967 sterling was devalued from UK£1 = US$2.80 to US$2.40 (see Bretton Woods system ), but the New Zealand dollar was devalued even more from NZ$1 = US$1.40 to US$1.12, to match the value ...
The New Zealand five-dollar note is a New Zealand banknote. It is issued by the Reserve Bank of New Zealand and since 1999 has been a polymer banknote . It was first issued on 10 July 1967 when New Zealand decimalised its currency , changing from the New Zealand pound to the New Zealand dollar .
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 ...
[2] [3] New Zealand was the last Dominion to establish a national currency. [3] The Reserve Bank has released seven different issues of New Zealand bank notes; two issues took place when the New Zealand pound was the national currency, and the remaining five issues have taken place since New Zealand switched to decimal currency in 1967. [2]
Australian pound: 1966 Bahamian dollar: 0.35 7/– Bahamian pound: 1966 New Zealand dollar: 0.5 10/– New Zealand pound: 1967 Western Samoan tala: 0.5 10/– Western Samoan pound: 1967 Tongan paʻanga: 0.5 10/– Tongan pound: 1967 Zambian kwacha: 0.5 10/– Zambian pound: 1968 Jamaican dollar: 0.5 10/– Jamaican pound: 1969 Fijian dollar: 0. ...
However, as pound sterling coinage in New Zealand was devalued relative to the same coins' value in Britain, a resulting wave of currency smuggling caused a massive decline in the amount of British silver coins available in New Zealand. The devalued pound sterling coinage in circulation in New Zealand was smuggled into Australia and the United ...