New Zealand Dollar

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New Zealand Dollar

The currency of New Zealand. It was introduced in 1967, replacing the New Zealand pound. It was initially pegged to gold through the U.S. dollar. After the end of the Bretton Woods system, it remained pegged to gold, then later to a currency basket. It has been a floating currency since 1985.
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Purchase of New Zealand dollar-denominated financial assets such as shares, debentures and bank deposits: the overseas investors hold their accrued profits in liquid or near-liquid form within the New Zealand currency area, which means that a future decision to shift these funds to other countries would involve converting them through the foreign exchange market.
The RBNZ table divides both assets and liabilities of the M3 institutions (hereafter referred to as "the banks") into New Zealand currency and foreign currency claims.
In a radio interview broadcast within the past hour, New Zealand's Deputy Prime Minister Bill English stated that a strong New Zealand currency will make it tough for the economy to recover.
While the firm would make gains from hedging while the New Zealand currency was appreciating it would make losses while the New Zealand currency was depreciating.
New Zealand adopted decimalised currency in July 1967 Prior to this, New Zealand currency was made up of pounds, shillings and pence.
An analyst said that the Australian dollar would definitely outperform the New Zealand currency unless the RBA announced a rate cut next month.
The use of the term "pounds sterling" indicates that the currency was not a distinctive New Zealand currency but was the currency of England authorised for circulation in New Zealand.
Shareholders recorded as domiciled in New Zealand will be paid their dividends on March 26, 1998 in New Zealand currency at the Bank of New Zealand's telegraphic transfer buying rate for Australian currency on March 12, 1998.
New Zealand holds foreign exchange reserves primarily to enable the Reserve Bank to intervene in the New Zealand currency market if serious liquidity problems were to develop.
Other information pertinent to this topic includes sm all business surveys reported on by Grimes et al (2000), which suggest that a separate New Zealand currency may be an obstacle to cross-border business expansion.
However, we monitor developments in currency security features in other countries and will continue to assess, on an ongoing basis, whether further security enhancements to New Zealand currency should be made.
17] By entering into a forward exchange contract the foreign investor can pre-arrange a price at which they will sell the New Zealand currency that they obtain once their NZ dollar bond matures.

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