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Queen Elizabeth II has appeared on New Zealand currency for several decades, and new coins and banknotes will feature King Charles III. Find out more in The Best Places to Exchange Money in New Zealand. There are no restrictions on how much cash you can bring into New Zealand, however, those who bring in NZ$10,000 or more must complete a Border Cash Report. The coin denominations currently in circulation in New Zealand’s currency are 10 cents, 20 cents, 50 cents, 5 common mistakes when choosing liquidity providers one dollar, and two dollars. Previously existing denominations of 1 cent, 2 cents, and 5 cents were phased out of circulation between 1988 and 2006. New Zealand’s central bank, the Reserve Bank of New Zealand, chose to drop the kiwi’s peg to the US dollar when the United States abandoned the gold standard in 1971.

If you carry AUD with you on your trip, you’ll probably need to exchange it before you can spend. Banknotes – $5, $10, $20, $50, and $100 and coins 10c , 20c, 50c, $1 and $2. Use our currency converter to see how much your money is worth in New Zealand dollar and familiarise yourself with the mid-market rate before your trip. Remitly is on a mission to make international money transfers faster, easier, more transparent, and more affordable. Since 2011, millions of people have used Remitly to send money with peace of mind. Australian currency and New Zealand currency are entirely separate currencies, and you can’t use one currency in the other country.

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• Although New Zealand’s been effectively self-governing since the early 1900s, it is still, as recognized in the country’s Constitution, “Her Majesty’s Government,” as a member of the British Commonwealth.
• You must pay for your everyday expenses in the local currency, including food, transportation, accommodation, and activities.
• The original New Zealand dollar banknotes all featured portraits of Queen Elizabeth.
• Whether you decide to use a travel debit card from a service like Wise , or stock up on NZD in cash in advance, knowing the mid-market exchange rate can help you get the best available deal.
• Coins are issued in denominations of 10, 20, and 50 cents, as well as 1 and 2 New Zealand Dollars.

These methods are straightforward, and you can choose the one that suits your needs. Compare live New Zealand dollar exchange rates and see how much you could save with Wise. You’ll find New Zealand banknotes in denominations of 5, 10, 20, 40 and 100. Swedish rounding, also called “cash rounding,” refers to the practice of rounding up or down to the smallest available currency unit. Since New Zealand withdrew its smallest coins from circulation, most retailers round up or down to the nearest 10 cents.

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Many international companies and banks are based in New Zealand giving the country a high Forex turnover compared with its GDP as well as the constant currency swap that leads to minimizing any FX risks. Last but not least, the importance of the New Zealand dollar is connected with the constant exports and imports which play a significant role in the country’s economy. To get the best deal when spending on card or withdrawing money in New Zealand, don’t forget to use cloud computing stocks the Wise travel money card to avoid sneaky exchange rate markups and excessive fees.

Send money home from New Zealand

Watch out in particular for exchange services which state there’s no commission, as the costs may simply be added into the exchange rate being used instead. Sometimes when you’re away on a trip abroad you’ll find that merchants will take payments in a selection of major foreign currencies. However, the chances are that where this is offered, you won’t get a good exchange rate for your AUD. Planning smart and convenient ways to spend in NZD when you’re away is likely to mean you save on costs in the end. If you are looking to convert your New Zealand dollars (NZD) to Indian rupees (INR), money changers in India can be a convenient and simple option for you.

What Does It Mean When a Currency Is Floated?

In 1967, notes were introduced in denominations of $1, $2, $5, $10, $20 and $100, with all except the $5 replacing their pound predecessors. $1 and $2 notes were discontinued in 1991 after being replaced with coins. Altogether it has five coins and five banknotes with the smallest being the 10-cent coin; smaller denominations have been discontinued due to inflation and production costs. Our exchange rate API offers real-time, accurate, and reliable data for hundreds of currencies. Xe’s proprietary rates are sourced directly from financial data providers and reputable banks. We compare currency exchange and money transfer services in over 200 countries worldwide.

New Zealand decimalized its currency in the 1960s.

• Because exchange rates change so frequently, and every provider offers different rates it’s hard to say the cheapest way and place to exchange currency.
• The NZD is affectionately referred to as the ‘Kiwi,’ in honor of a flightless bird called a kiwi, which is pictured on one side of the country’s $1 coin.
• You’ll always get the lowest available fee and there are no extra foreign transaction charges.
• In 1999, a new design for the New Zealand Dollar was released in an attempt to modernize, with the new bills being made of polymer.
• This is due to the robust trade and tourism relations that New Zealand has with these countries.
• In stores and restaurants, New Zealand dollar prices are likely to use the currency symbol NZ$.
• The New Zealand currency faced various changes until 1999 when it was produced for the first time polymer or plastic versions of the NZD making the currency more secure.

He is an expert in New Zealand travel and has tested over 600 activities and 300+ accommodations across the country. For information on opening a New Zealand bank account, see How to Open a New Zealand Bank Account. The unit of currency in New Zealand is the New Zealand Dollar, often seen written as “NZD” or “NZ$”. This guide to New Zealand currency will go through how money is commonly using in New Zealand, from currency values to banking in New Zealand to the Goods and Services Tax.

Can you use Australian dollars in New Zealand?

From 1985 forward, the kiwi was allowed to float in the foreign exchange market freely. However, New Zealand’s central bank occasionally intervenes in the forex market, selling large quantities of kiwi dollars in order to prevent the currency from increasing further in value. It is a measure frequently undertaken by a country’s central bank in order to keep its export products attractively priced to foreign buyers. Going to best adr indicator for mt4 a money exchange office can be a quick way to get your hands on foreign currency cash. Exchange rates and fees do vary widely, so you’ll need to shop around.