New Zealand Dollar

New Zealand's currency is the New Zealand dollar (NZD). The dollar was introduced on 10 July 1967, replacing the New Zealand pound. The dollar is subdivided into 100 cents. The dollar is one of the most traded currencies in the world. The Reserve Bank of New Zealand manages monetary policy, and issues currency. The New Zealand dollar is also used in the Cook Islands, Niue, Tokelau and the Pitcairn Islands. The dollar is popular with currency traders, because of the high interest rates in New Zealand, and the country's relative proximity to Australia and Asia. The NZD is a floating currency, which means its value is determined by the market. The Reserve Bank can intervene in the market to buy or sell dollars, if it wants to influence the exchange rate. The NZD is one of the few currencies that is not impacted by the US dollar. This is because the NZD is not pegged to any other currency. The value of the NZD can be affected by global events, such as the US-China trade war, or the Brexit negotiations. The NZD is a relatively stable currency, and has been trending upwards in recent years.