United States dollar to New Zealand Dollar exchange 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.