The currency of New Zealand
New Zealand
DollarNZD
The currency of New Zealand is the New Zealand dollar (NZD), divided into 100 cents and issued by the Reserve Bank of New Zealand. It has floated freely since March 1985: one New Zealand dollar costs ₹54.72 at our selling rate right now.
- Code
- NZD
- Symbol
- $NZ$
- Subunit
- 100 cents
- In use since
- 1967
What is the currency of New Zealand?
The currency of New Zealand is the New Zealand dollar, code NZD, written $, or NZ$ when it must be told apart from other dollars. One dollar is divided into 100 cents, and the Reserve Bank of New Zealand issues it. The dollar replaced the New Zealand pound on 10 July 1967, at two dollars to the pound, and it has floated freely since 4 March 1985, so against the rupee it moves with the market: on 5 Oct 2026, one New Zealand dollar was worth about ₹54.72 at our selling rate. It is informally the NZ dollar, the Kiwi or the Kiwi dollar. The Cook Islands, Niue, Tokelau and the Pitcairn Islands use it too. The New Zealand currency is not the only dollar, though: the US dollar and the Australian dollar are separate currencies at different values.
New Zealand Dollar at a glance
- Currency
- New Zealand dollarAlso the NZ dollar, the Kiwi or the Kiwi dollar
- Code
- NZDNumeric code 554
- Symbol
- $, or NZ$NZ$ tells it apart from other dollars
- Subunit
- 1 dollar = 100 centsThe 10 cent coin is the smallest in use
- Issuer
- Reserve Bank of New ZealandTe Pūtea Matua, founded on 1 August 1934
- Introduced
- 10 July 1967Replaced the New Zealand pound at two dollars to the pound
- Exchange rate
- FloatingFree-floating since 4 March 1985
- Used in
- New Zealand and four other placesThe Cook Islands, Niue, Tokelau and the Pitcairn Islands
- Banknotes
- $5, $10, $20, $50 and $100Polymer since 1999; the Brighter Money series came out in 2015 and 2016
- Coins
- 10, 20 and 50 cents, $1 and $2The 1, 2 and 5 cent coins are no longer used
New Zealand currency notes and coins
New Zealand money comes as five polymer banknotes and five coins. The notes are the Brighter Money series: the $5 and $10 entered circulation on 12 October 2015, and the $20, $50 and $100 followed on 16 May 2016. Every note has a native bird on the back, named in te reo Māori, and the $20 still carries Queen Elizabeth II. Each note is shown with what it costs in rupees at our selling rate today.
- Reserve Bank of New ZealandFive dollars$5
Five dollars $5
≈ ₹273.62 today- Colour
- Orange
- Front
- Sir Edmund Hillary and Aoraki/Mount Cook
- Back
- A hoiho (yellow-eyed penguin) and a Campbell Island scene
- Reserve Bank of New ZealandTen dollars$10
Ten dollars $10
≈ ₹547.25 today- Colour
- Blue
- Front
- Kate Sheppard, the women's suffrage leader
- Back
- A whio (blue duck) on a river
- Reserve Bank of New ZealandTwenty dollars$20
Twenty dollars $20
≈ ₹1,094.49 today- Colour
- Green
- Front
- Queen Elizabeth II
- Back
- A kārearea (New Zealand falcon) in an alpine scene
- Reserve Bank of New ZealandFifty dollars$50
Fifty dollars $50
≈ ₹2,736.23 today- Colour
- Purple
- Front
- Sir Āpirana Ngata
- Back
- A kōkako in a conifer forest
- Reserve Bank of New ZealandOne hundred dollars$100
One hundred dollars $100
≈ ₹5,472.46 today- Colour
- Red
- Front
- Lord Rutherford of Nelson
- Back
- A mohua (yellowhead) in beech forest
Coins, in cents
The 10 cent is copper-plated steel and copper in colour, the 20 and 50 cent are nickel-plated steel and silver in colour, and the $1 and $2 are aluminium bronze and gold in colour, the $2 the larger. The backs show a koruru carving, the Pūkaki carving, HM Bark Endeavour with Mount Taranaki, a kiwi and a kōtuku, or white heron. Queen Elizabeth II is on the front of all five.
- 1010 cents
≈ ₹5.47 - 2020 cents
≈ ₹10.94 - 5050 cents
≈ ₹27.36 - 11 dollar
≈ ₹54.72 - 22 dollars
≈ ₹109.45
Sources: Reserve Bank of New Zealand, banknotes in circulation; Bank for International Settlements, speech of 20 November 2014; Wikipedia, "Banknotes of the New Zealand dollar" and "Coins of the New Zealand dollar"; colours as printed. Rupee values at our selling rate, 10:25 AM IST, 5 Oct 2026.
The face on the $5 note served in New Delhi
Sir Edmund Hillary, first confirmed on the summit of Mount Everest in 1953, is the face on the New Zealand $5 note. He was also New Zealand's High Commissioner to India from 1985, and the $5 note issued on 12 October 2015 still carries him.
Up the Ganges by jet boat
Hillary leads "Ocean to Sky", a jet boat expedition up the Ganges from the sea towards its source, in New Zealand-made Hamilton jet boats.
A posting to New Delhi
Prime Minister David Lange persuades him to become High Commissioner to India. He arrives in New Delhi to reopen the High Commission, which a political decision had closed in 1982.
The face on the $5
His portrait replaces the Queen's on the $5, and he becomes the first living New Zealander to appear on a banknote.
India honours him
Hillary dies on 11 January 2008. After his death India names him for the Padma Vibhushan, its second-highest civilian award, on Republic Day.
Sources: New Zealand Ministry of Foreign Affairs and Trade, history of the New Delhi High Commission; Te Ara, the Encyclopedia of New Zealand, and NZ History; Governor-General of New Zealand, Padma Vibhushan gallery; Wikipedia, "Edmund Hillary" and "New Zealand five-dollar note".
Floating since 4 March 1985
The New Zealand dollar is not fixed to any other currency, so its price in rupees changes with the market. Three facts explain where it stands.
Floated on 4 March 1985
The Lange government floated the dollar two days after Finance Minister Roger Douglas announced it. Before that it had been tied to sterling and the US dollar, and later to a basket of currencies.
Its own central bank
The Reserve Bank of New Zealand, Te Pūtea Matua, opened on 1 August 1934 and has the sole right to issue New Zealand notes and coins. The Australian and US dollars are issued by other central banks.
A large Indian community
The 2023 Census counted 292,092 people in the Indian ethnic group, up 22 percent since 2018. It is the third-largest ethnic group in New Zealand, after New Zealand European and Māori, and the largest Asian one.
One unit in rupees · our selling rate, 5 Oct 2026
The New Zealand dollar since 1967
New Zealand has counted in dollars since 1967, and its money has changed a great deal since, from the end of the smallest coins to polymer notes. What changed along the way, in eight entries.
- EntryNew Zealand
The Reserve Bank opens
On 1 August the Reserve Bank of New Zealand opens and issues its first notes, hastily designed and meant to be temporary.
- EntryNew Zealand
Decimal Currency Day
On 10 July the dollar replaces the New Zealand pound, at two dollars to the pound.
Launch - EntryNew Zealand
The dollar floats
The Lange government floats the dollar on 4 March, two days after Finance Minister Roger Douglas announced it. The market has set its price ever since.
Float - EntryNew Zealand
The 1 and 2 cent coins end
The 1 and 2 cent coins stop being legal tender, and the 5 cent coin becomes the smallest.
- EntryNew Zealand
Polymer notes
New Zealand switches from paper to polymer banknotes, one of the few countries to have done so at that time.
- EntryNew Zealand
Smaller coins, no 5 cent
On 31 July smaller, lighter 10, 20 and 50 cent coins arrive and the 5 cent coin stops being issued. Old coins can be used until 31 October, and cash totals are now rounded to the nearest 10 cents.
- EntryNew Zealand
Brighter Money
The new $5 and $10 enter circulation on 12 October 2015 and the $20, $50 and $100 follow on 16 May 2016. The $5 is named Banknote of the Year for 2015 by the International Bank Note Society.
New notes - EntryNew Zealand
A coin with King Charles III
On 29 May the Reserve Bank approves the first coin with the King, a 10 cent stamped 2024, for production, and people should see it in change around 2027. The $20 still carries Queen Elizabeth II.
New coin
Sources: Reserve Bank of New Zealand, museum timeline, note and coin pages and news releases; Inland Revenue, removal of the 5 cent coin; NZ Post, 30 March 2006; Bank for International Settlements, speech of 20 November 2014; 1News and Kiwi Kids News, 29 May 2025; Te Ara and the New Zealand Herald on the 1985 float; Wikipedia, "New Zealand dollar", "Banknotes of the New Zealand dollar" and "Reserve Bank of New Zealand".
New Zealand dollars and rupees side by side
Worked out at our selling rate at 10:25 AM IST on 5 Oct 2026. For the live rate on any amount, use the NZD to INR or INR to NZD converter.
| You pay | You get |
|---|---|
| ₹5,000 | $ 91.37 |
| ₹10,000 | $ 182.73 |
| ₹25,000 | $ 456.83 |
| ₹50,000 | $ 913.67 |
| ₹1,00,000 | $ 1,827.33 |
| ₹2,00,000 | $ 3,654.66 |
| You buy | It costs |
|---|---|
| $ 50 | ₹2,736.23 |
| $ 100 | ₹5,472.46 |
| $ 500 | ₹27,362.30 |
| $ 1,000 | ₹54,724.60 |
| $ 2,500 | ₹1,36,811.50 |
| $ 5,000 | ₹2,73,623.00 |
Spending New Zealand dollars in New Zealand
Three things about New Zealand money that help on the first day.
Cash rounds to 10 cents
There is no 1, 2 or 5 cent coin, so a cash total is rounded up or down to the nearest 10 cents. The 10 cent coin, the smallest in use, is worth about ₹5.47, and the smallest note is the $5, about ₹273.62.
Cash: nearest 10c · Card: exactCards are exact, cash still works
Most New Zealand retailers have EFTPOS terminals, and a card payment is charged at the exact amount with no rounding. Cash is still legal tender, so a few notes and coins are useful too.
EFTPOS · exact amountsTipping is not expected
Tipping is not customary in New Zealand, and hotels and restaurants do not add a service charge. Some card terminals now show a tip prompt, but a tip is optional.
No service charge addedTaking New Zealand dollars from India
The Reserve Bank of India's rules apply to every currency, and the New Zealand dollar is no exception.
Up to the equivalent of USD 3,000 per trip can leave India as New Zealand dollar notes. The rest goes on a forex card or as a bank transfer.
Every resident can send up to USD 250,000 abroad each financial year under the Liberalised Remittance Scheme, travel included.
Tax collected at source applies once your foreign-exchange purchases in a financial year cross ₹10 lakh: nil when an education loan pays, 2% for self-funded education and medical treatment, and 20% for travel and everything else. It is credited against your income tax when you file.
New Zealand dollars are on our booking form. Send your amount and the desk confirms your exact rate before anything is booked.
Book New Zealand Dollars→New Zealand dollar questions
The questions people type about the New Zealand dollar, answered in full, in three groups.
The basics
8 questionsWhat is the currency of New Zealand?
The currency of New Zealand is the New Zealand dollar, code NZD, divided into 100 cents. It is issued by the Reserve Bank of New Zealand and used across the country, from the capital, Wellington, to Auckland and the South Island.
What is the full form of NZD?
NZD stands for New Zealand Dollar: NZ is New Zealand's two-letter country code and D is for dollar, following the ISO 4217 standard. So the NZD full form is New Zealand Dollar, the New Zealand currency code is NZD and its numeric code is 554. NZD currency always means New Zealand's own dollar, not the US or Australian one.
What is the New Zealand dollar symbol?
The New Zealand dollar symbol is $, the same sign the US, Australian and Canadian dollars use, so NZ$ is written when it must be told apart. On price tags the New Zealand currency symbol is simply $, as in $20 or $4.50, while banks and exchange boards use the code NZD.
What is the New Zealand currency name?
The New Zealand currency name is the New Zealand dollar, also written NZ dollar, and it is informally called the Kiwi or the Kiwi dollar. It is sometimes typed as NZ currency, newzealand currency or new zeland dollar, and all of them mean this dollar. Only the word dollar is shared with other countries: the US dollar, the Australian dollar and the Canadian dollar are separate currencies.
Why is the New Zealand dollar called the Kiwi?
The New Zealand dollar is informally called the Kiwi or the Kiwi dollar, and the $1 coin shows a kiwi with silver fern fronds around it. Sources disagree on whether that coin gave the dollar its nickname, and one says the nickname is older than the coin, so we do not claim it did.
How many cents make one New Zealand dollar?
One New Zealand dollar is 100 cents, so prices have two decimals, as in $12.50. Coins come in 10, 20 and 50 cents plus $1 and $2: the 10 cent is copper-coloured, the 20 and 50 cent are silver-coloured, and the $1 and $2 are gold-coloured. The 1, 2 and 5 cent coins are no longer used, so the 10 cent is the smallest coin.
Who issues the New Zealand dollar?
The Reserve Bank of New Zealand, called Te Pūtea Matua in te reo Māori, which has the sole right to issue New Zealand notes and coins. It opened on 1 August 1934, is based in Wellington and issued its first notes that day. The Royal Canadian Mint makes its coins, including the new 10 cent with King Charles III.
Which other places use the New Zealand dollar?
The Cook Islands, Niue, Tokelau and the Pitcairn Islands all use it, and ISO 4217 lists the five places under NZD. The Cook Islands also print their own $3 note, which circulates beside the New Zealand dollar. The Pitcairn Islands have issued commemorative dollar coins since 1988, but they are sold mainly to collectors.
Value and history
6 questionsIs the New Zealand dollar fixed or floating?
The New Zealand dollar floats. The market has set its price since 4 March 1985, when the Lange government floated it two days after Finance Minister Roger Douglas announced the plan, so against the rupee it changes every day. On 5 Oct 2026 one New Zealand dollar was worth about ₹54.72 at our selling rate.
When did New Zealand switch from the pound to the dollar?
On 10 July 1967, known as Decimal Currency Day, dollars and cents replaced the New Zealand pound, and one pound became two dollars. The dollar was pegged to other currencies until it floated in 1985.
Which New Zealand banknotes are in use?
Five polymer notes, the Brighter Money series: the $5 (orange) and $10 (blue) came out on 12 October 2015, and the $20 (green), $50 (purple) and $100 (red) on 16 May 2016. The $20 still carries Queen Elizabeth II, not King Charles III. The $1 and $2 are coins, not notes, and the smallest note is the $5.
When will King Charles III appear on New Zealand money?
The Reserve Bank approved the first coin with King Charles III, a 10 cent stamped 2024, for production on 29 May 2025, and people should see it in change around 2027. We found no announced design or date for a note with the King, so the $20 you get today still carries Queen Elizabeth II. Notes and coins with the Queen stay legal tender and are not being withdrawn early.
Are old New Zealand notes and coins still valid?
The polymer notes of both series, the 1999 notes and Brighter Money, are legal tender in any condition. The 1 and 2 cent coins stopped being legal tender in 1990, and the 5 cent coin and the old-size 10, 20 and 50 cent coins on 1 November 2006. For paper notes from before 1999 the sources disagree, so check with the Reserve Bank of New Zealand before relying on them.
What is the India link to the New Zealand dollar?
The link is people. The 2023 Census counted 292,092 people in New Zealand's Indian ethnic group, up 22 percent since 2018 and the third-largest ethnic group after New Zealand European and Māori. The face on the $5 note, Sir Edmund Hillary, also served as New Zealand's High Commissioner to India from 1985.
Buying from India
2 questionsHow much New Zealand currency can I take out of India?
Up to the equivalent of USD 3,000 per trip in currency notes. Anything above that goes on a forex card or as a bank transfer, all within the USD 250,000 a year Liberalised Remittance Scheme limit.
How do I get New Zealand dollars for a trip to New Zealand?
Order them before you fly. Matrix Forex, an RBI-authorised Category-II dealer, has New Zealand dollars on its booking form: send your amount through the booking bar at the top of this page and the desk confirms your exact rate before anything is booked. For the live rate on any amount, see the NZD to INR converter.