NZD (New Zealand Dollar)

AAA

DEFINITION of 'NZD (New Zealand Dollar)'

The currency abbreviation or currency symbol for the New Zealand dollar (NZD), the currency of New Zealand. The New Zealand dollar is made up of 100 cents and is often represented by the symbol $ or NZ$ to set it apart from other currencies based in dollars. The currency is also used in the Cook Islands, Niue, Tokelau, and the Pitcairn Islands.

Also known as the Kiwi.

INVESTOPEDIA EXPLAINS 'NZD (New Zealand Dollar)'

When New Zealand's currency was decimalized in 1967, the New Zealand dollar replaced the New Zealand pound at a rate if 2 dollars to 1 pound. Initially pegged to the United States dollar (USD), the New Zealand dollar went through a series of changes in the fixed exchange rate until March of 1985, when the currency was allowed to float freely.

The currency is often known as a kiwi because of the national bird found stamped on the one dollar coin.

RELATED TERMS
  1. Kiwi Bond

    Retail stock offered directly to the public and available only ...
  2. Forex Futures

    An exchange-traded contract to buy or sell a specified amount ...
  3. Kiwi

    A slang term for the New Zealand dollar (NZD). It derives its ...
  4. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  5. Currency

    A generally accepted form of money, including coins and paper ...
  6. Forex - FX

    The market in which currencies are traded. The forex market is ...
Related Articles
  1. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  2. Combining Forex Spot And Futures Transactions
    Options & Futures

    Combining Forex Spot And Futures Transactions

  3. Trade Forex With A Directional Strategy
    Options & Futures

    Trade Forex With A Directional Strategy

  4. 8 Basic Forex Market Concepts
    Forex Education

    8 Basic Forex Market Concepts

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center