The New Zealand dollar is the official currency of New Zealand. It is also known as the kiwi, a name given to a flightless native bird which appears on the 1 dollar coin. The currency is also used in the Tokelau, Pitcairn Islands, Niue and Cook Islands. The NZ dollar is subdivided into 100 cents. It is symbolized by NZ$ and has a currency code of NZD. The New Zealand dollar replaced the New Zealand pound in 1967 providing a decimalized currency at a rate of 2 dollars is to 1 pound.
The New Zealand is ranked among the top 12 most traded currencies in the global foreign exchange market. Under the regulation of the Reserve Bank of New Zealand, banknotes are issued in two series (Series 6 and the new Series 7) in denominations of $5, $10, $20, $50 and $100. The banknotes are printed on polymer and feature images of famous national figures, icons, and landmarks on one side, and an artwork of wildlife and nature scenery on the other. As a free-floating currency, the New Zealand dollar is often affected by currency trading. The New Zealand economy is heavily reliant on the daily industry thus a currency trader may want to track the global dairy prices.
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