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Exchange rates last updated Thursday, 28 May 2020 11:07:26 AM EDT. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online sell rate will be used for conversions from US Dollars to a foreign currency.
The latest on the US dollar to New Zealand Dollar rates
The lowdown on the New Zealand Dollar
The first sovereign currency traded in New Zealand came into effect in 1840 and was known as the New Zealand pound. Before this time, both the Australian and British coins were used. The Reserve Bank of New Zealand was established in the 1930s, but it was only in 1967 when the New Zealand dollar replaced the pound. During this year, banknotes were introduced in denominations of $1, $2, $5, $10, $20 and $100. $50 notes were only added in 1983, with the $1 and $2 notes being replaced for coins in 1991.
The New Zealand dollar remains in the top ten traded currencies in the world, accounting for approximately 2.0% of the global foreign exchange market’s daily turnover.
Historic U.S. dollar to New Zealand Dollar rates
The New Zealand Dollar was initially pegged to the US Dollar at a rate of 1.62 USD to 1 NZD. The peg rate changed multiple times until 1985, when the currency began to freely float in the market.