Timeline

• 27.07.1894
• Law (of the Federal Parliament of the Cook Islands) on the adoption of the British currency as sole legal tender; effective 07.08.1894 (by assent of the British resident):
  - The Circulating Chilean and other Latin American Dollars could be deposited against specially issued government notes of 4, 2 Shillings Sterling at a rate of 2½ Shillings.
  - The notes could be used for the payment of dues to the federal or local governments (which in turn could redeem them into British currency).
• 11.10.1915
• New Zealand law [Cook Islands Act, No. 40 (6 Geo. V)] on government and legislation; effective immediately.
  - The act instituted the "Treasury of the Cook Islands" but did not mention currency.
• 27.11.1933
• New Zealand law [Currency Act, No. 12] on the introduction of a distinct currency with the Cook Islands explicitly mentioned in the scope of applicability; effective 01.01.1933 (retroactive)
• 03.11.1964
• New Zealand law [Decimal Currency Act, No. 27] on the decimalization of the currency with the Cook Islands explicitly mentioned in the scope of applicability; effective 10.07.1967
• around 1972
• Start of issuance of Cook Islands subsidiary coinage for circulation alongside the New Zealand banknotes and coins
• 01.11.1981
• Law [Monetary Board Act, No. 18] on the establishment of the Cook Islands Monetary Board; effective immediately

Timeline

• 15.04.1987
• Law [Currency Act, No. 32] on constitution of the Monetary Board as issuing institute and the creation of a distinct currency; effective immediately:
  - Issuance of paper money and subsidiary coins began 1987, the New Zealand banknotes and coins remained in circulation.
• 08.06.1995
• Law [Currency (Amendment) Act, No. 31] on the suspension of the issuing privilege of the Monetary Board and the abolition of the Cook Islands currency, restoring the New Zealand Dollar as sole legal tender; effective immediately.
  - The withdrawal of the Monetary Board notes of 50, 20, 10, 5 Cook Island Dollars and 1 : 1 exchange into New Zealand Dollars began immediately, the notes of 3, 1 Cook Island Dollars and the subsidiary coins remained.
• 16.06.2005
• Law [Currency (Amendment) Act, No. 3] on the repeal of the 1981 Monetary Board Act; effective immediately

Valuation Regimes

• 1987-1995
• Fixed rate against New Zealand Dollar