what kind of currency is used in new zealand
New Zealand dollar
title: New Zealand dollar text: New Zealand dollar The New Zealand dollar (sign: $; code: NZD, also abbreviated NZ$) () 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. Within New Zealand, it is almost always abbreviated with the dollar sign ($), with "NZ$" sometimes used to distinguish it from other dollar-denominated currencies. In the context of currency trading, it is often informally called the "Kiwi" or "Kiwi dollar", since New Zealand is commonly associated with the indigenous bird and the one-dollar coin depicts a kiwi. Introduced in 1967, title: New Zealand dollar text: the dollar is subdivided into 100 cents. Altogether there are ten denominations—five coins and five banknotes—with the smallest being the 10-cent coin. Formerly there were lower denominations, but those were discontinued due to inflation and production costs. The New Zealand dollar is consistently one of the 10 most traded currencies in the world, being approximately 2.0% of global foreign exchange market daily turnover in 2013. Prior to the introduction of the New Zealand dollar in 1967, the New Zealand pound was the currency of New Zealand, which had been distinct from the pound sterling since 1933. The pound used the title: New Zealand one-dollar coin text: New Zealand one-dollar coin The New Zealand one-dollar coin ($1) is a coin of the New Zealand dollar. The current circulating coin was introduced on 11 February 1991 to replace the existing $1 note. There had previously been occasional issues of commemorative "silver dollars", but they are rarely seen in circulation. The depiction of a kiwi on the reverse helps give the New Zealand dollar the colloquial name "Kiwi (dollar)", although the term was in use before the $1 coin was introduced. The current coin replaced the New Zealand one dollar note in use since New Zealand's currency was decimalised title: New Zealand dollar text: Zealand's relative share of population or global GDP. According to the Bank for International Settlements, the New Zealand dollar's share of global foreign exchange market daily turnover in 2016 was 2.1% (up from 1.6% in 2010) giving it a rank of 11th. Trading in the currency has climbed steadily since the same survey in 1998 when the NZD's ranking was 17th and the share of turnover was just 0.2%. New Zealand dollar The New Zealand dollar (sign: $; code: NZD, also abbreviated NZ$) () is the official currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross title: Coins of the New Zealand dollar text: Coins of the New Zealand dollar This article concerns the coins of the New Zealand dollar. Prior to 10 July 1967, the New Zealand pound, using the £sd system, was the currency of New Zealand. Coins of the pound tend to follow the size, weight, and composition of their British counterparts. The main coins in usage were the halfpenny (d), penny (1d), threepence (3d), sixpence (6d), shilling (1s), florin (2s), and halfcrown (2s 6d). Decimalisation of the New Zealand currency occurred on 10 July 1967, when the New Zealand pound was replaced by the New Zealand dollar at a rate