Paper money issuance by the Union Bank of Australia
18.05.1844
Ordinance Ordinance to authorise the governor of New Zealand to issue debentures and to make the same legal
tender; effective immediately (?) - Revoked and annulled by British authorities in 1845.
16.10.1847
Law [Paper Currency Act, No. 15] on the establishment of thr Colonial Bank of Issue and the prohibition of private paper money (by the Union Bank of Australia); effective 03.06.1850. - 29.07.1856: Law [Colonial Bank of Issue Winding-Up Act, No. 13] on the liquidation of the Colonial Bank of Issue and the withdrawal of the banknotes; implemented 30.09.1856.
18.10.1854
Proclamation of an Order in Council (dated 19.08.1853) for the establishment of a mint in Sydney and the issuance of gold coins (sovereign and half-sovereign) for all Australian colonies (including New Zealand)
07.07.1856
Law [Bank Paper Currency Act, No. 5] on the paper money issuance by "certain banking companies" (means the Union Bank of Australia); effective immediately (?)
28.05.1858
Law [English Laws Act, No. 2], proclaims all British laws valid as of 14.01.1840 for the colony of New Zealand (including all coinage and currency legislation); effective 03.05.1841 (retroactive, establishment of the colony)
Time Period: 1933-1966
Currency: New Zealand Pound
Transition
1 : 1 Australian Pound
Sub-units
Pound / 20 Shillings / 12 Pence
ISO4217
none (informal: NZP)
Timeline
27.11.1933
Law [Reserve Bank of New Zealand Act, No. 11] on the establishment of the Reserve Bank of New Zealand as central bank; effective upon constitution of the bank on 01.08.1934
27.11.1933
Law [Coinage Act, No. 12] on the creation of a distinctive coinage for New Zealand; effective 01.01.1933 (retroactive)
??.02.1933
Start of currency exchange: - ??.02.1933: Start of issuance of the new coinage - 01.08.1934: Start of issuance of the new banknotes by the Reserve Bank - 31.01.1935: Demonetization of the British paper money
Valuation Regimes
1933-1948
Fixed rate against Australian Pound
1948-1967
Fixed rate against British Pound
Rate Arrangements
01.01.1933
Fixed
Australian Pound at 1 : 1
±0.0%
19.08.1948
Fixed
British Pound at 1 : 1
+25.0%
27.10.1961
Fixed
British Pound at 1 : 1.006875 - [Gold parity] 2'471.29mg AU fine
-0.7%
Time Period: 1967-
Currency: New Zealand Dollar
Transition
2 : 1
Sub-units
Dollar / 100 Cents
ISO4217
NZD
Timeline
03.11.1964
Law [Decimal Currency Act, No. 27] on the introduction of a decimal currency; effective 10.07.1967
10.07.1967
Start of currency exchange: - 10.07.1967: Start of issuance of the new currency - 31.05.1968: Demonetization of the former currency (subsidiary coins remained tolerated).
Valuation Regimes
1967
Fixed rate against British Pound; did not follow the devaluation of 18.11.1967
1967-1971
Fixed rate against Australian Dollar
1971-1973
Fixed rate against US Dollar
Rate Arrangements
10.07.1967
Fixed
British Pound at 1 : 2.01375 - [Gold parity] 1'235.64mg AU fine
-0.7%
21.11.1967
Fixed
Australian Dollar at 1 : 1 - [Gold parity] 995.31mg AU fine