New Zealand dollar exchange rate – NZD/PLN

The first currencies on New Zealand land emerged in the 19th century, when the country was under British influence. Until the end of the 19th century, there was primarily the New Zealand pound, which was pegged to the British pound. In the 1960s New Zealand, like many other British Commonwealth countries, decided to change its currency. The main reason for this decision was a desire to simplify the monetary system, as a system based on pounds, shillings and pence was considered outdated and inefficient. After years of debate, on 10 July 1967, New Zealand officially adopted the New Zealand dollar, which replaced the New Zealand pound with a ratio of 1 pound = 2 New Zealand dollars. Proposed names for the new currency included „kiwi”, „zeal” and „fern” – after the famous New Zealand fern. Until the 1970s, the New Zealand dollar was pegged to the US dollar under the Bretton Woods system. In 1985, New Zealand's then finance minister, Roger Douglas, introduced a number of economic reforms, colloquially known as „Rogernomics”. One of the most important decisions was to make the New Zealand dollar exchange rate floating. Just two years later, the NZD was one of the currencies hardest hit by the stock market crash, with its value falling by nearly 15% in just a few weeks. Today, the NZD's quotations are stable and the currency plays an important role in the Pacific region.

1 New Zealand dollar is divided into 100 cents. In addition to New Zealand, the currency is also used in the Cook Islands and Niue. Coins of 10, 20 and 50 cents and 1 and 2 NZD can be found in circulation. Banknotes have values of 5, 10, 20, 50 and 100 NZD. The New Zealand dollar coins feature an image of Queen Elizabeth II on the obverse. On the reverse, we can see themes related to the heritage of the original Maori people, including the traditional Maori mask, known as the koruru (10 cents), the ship on which James Cook arrived in New Zealand in 1769 (50 cents), and the country's signature kiwi bird (1 NZD). The NZD banknotes are decorated on the front with images of important historical figures. The 5 NZD banknote features an image of Sir Edmund Hillary, the New Zealand Himalayan who was the first person to summit Mount Everest. The 10 NZD features suffragette Kate Sheppard, and on the 100 NZD denomination we can see physicist and Nobel Prize winner Ernest Rutherford. The backs of the notes immortalise New Zealand fauna, including the yellow-eyed penguin – the hoiho (5 NZD), the rare Takahe bird against the backdrop of Fiordland National Park (50 NZD), and the local parrot species – the kaka. The New Zealand dollar is categorised as a commodity currency, as New Zealand's economy is based on the export of agricultural products, including dairy products, meat (lamb and beef) or fruit (e.g. kiwi).