The New Zealand dollar, denoted by NZD or sometimes NZ$, is the official currency used in New Zealand. The Kiwi (an informal term for the currency) is also officially used in the Cook Islands, Niue, Tokelau and the Pitcairn Islands. Each dollar can be subdivided into 100 cents. The NZD was introduced in 1967 to replace the New Zealand pound when the country decimalized its currency.
Interesting Facts about the NZD
The $50 note is the only note featuring a Maori on the obverse.
All the names of the birds on the reverse are in Maori, and all
begin with a consonant.
A majority of the banknotes feature males, but the $10 and
$20 notes feature women.
A majority of the banknotes feature deceased people, but the
people on the $5 and $20 notes are still alive.
The $20 note is the only note with a citizen of another country
on the obverse.
The $5 note is the only note to have a special object in the
bottom left-hand corner.
| Moody's Rating |
| Aaa |
| S&P Rating |
| AA+ |
|
Sovereign credit ratings play an important part in determining a country's access to international capital markets, and the terms of that access. Sovereign ratings help to foster dramatic growth, stability, and efficiency of international and domestic markets.
What does it look like?
Political Structure
New Zealand is a constitutional monarchy with a parliamentary democracy. The Governor-General represents the Queen of New Zealand as head of state.
The New Zealand Parliament is unicameral, consisting of the House of Representatives. The House has 120 members from which a Cabinet of about 20 ministers is appointed. No single written constitution exists, however the Constitution Act of 1986 is the principal formal statement of New Zealand's constitutional structure. The Prime Minister leads the Cabinet.
The highest court in the nation is the Supreme Court of New Zealand. The Supreme Court was established in 2004 following the passage of the Supreme Court Act in 2003. The Act abolished the option to appeal Court of Appeal rulings to the Privy Council in London. The current Chief Justice is Dame Sian Elias. New Zealand's judiciary also has a High Court, which deals with serious criminal offences and civil matters, and a Court of Appeal, as well as subordinate courts.
Prominent Figures
Governor General: Anand Satyanand
Prime Minister: Helen Clark
Deputy Prime Minister: Michael Cullen
Attorney General: Margaret Wilson
Governor, Reserve Bank: Alan Bollard
Ambassador to the US: Roy Ferguson
Key Economic Factors
Overview: The past two decades, for New Zealand, have been characterized most by its transformation from an agrarian economy dependent on concessionary British market access to an industrialized, free market economy that holds a legitimate place in global competition. This significant growth has boosted real incomes, developed technology in the industrial sector, and kept inflationary pressures under check. GDP per capita has increased steadily for more than half a decade. New Zealand is heavily dependent on trade, especially agricultural products, to drive economic growth (of note is that exports constitute one-fifth of GDP). New Zealand has a generally resilient economy, and the Labor Government promises that expenditures on health, education and pensions will increase proportionately to output.
Key Industries: Food processing, wood and paper products, textiles, machinery, transportation equipment, banking and insurance, tourism and mining.
Agricultural Products: Wheat, barley, potatoes, pulses, fruits, vegetables, wool, beef, lamb, mutton, dairy products and fish.
Export Commodities: Dairy products, meat, wood, wood products, fish and machinery.
Import Commodities: Machinery and equipment, vehicles and aircraft, petroleum, electronics, textiles and plastics.
Have additions or corrections to this material? 
