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SubscribeNew Zealand is located in the southwest Pacific Ocean. The country is comprised of two major land masses, the North Island and the South Island, in addition to hundreds of smaller islands. New Zealand was one of the last places to be settled by humans, and as such it developed a very distinct biodiversity. The nation is widely considered to have a very beautiful landscape and topography, which may be attributed to volcanic activity in the area. The capital of the country is Wellington, although its most populous city is Auckland. English is the primary language spoken in the country, and its government is a unitary parliamentary constitutional monarchy.
The official currency of New Zealand is the New Zealand Dollar. In addition to the mainland, the currency is also legal tender of the Cook Islands, Niue, The Ross Dependency, Tokelau and the Pitcairn Islands. The currency is commonly referred to as the “kiwi,” the indigenous bird that is symbolic of the nation.
The kiwi was introduced in 1967, and like other major global currencies can be subdivided into 100 smaller units of currency called cents. The kiwi is one of the most heavily traded currencies in the world.
The New Zealand Dollar is issued and controlled by the Reserve Bank of New Zealand. The nation’s central bank was established in 1934 and is tasked with other responsibilities in addition to currency management such as conducting monetary policy and managing the nation’s banking system.
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