The New Zealand dollar is the currency of New Zealand, also used in the Cook Islands, Niue, Tokelau and Pitcairn Islands.
According to official data from the Bank for International Settlements (BIS) in its three-year report of 2007 shows that the level of participation of the New Zealand dollar in the forex market is 1.91%, taking into account a total 200% because the currency transactions involving simultaneous purchases and sales of currencies.
In this way, after the U.S. dollar, euro, Japanese yen, British pound, Swiss franc, Australian dollar, Canadian dollar, Swedish krona, the Hong Kong dollar and the Norwegian krone, the dollar New Zealand was established as the eleventh most traded currency in the forex market.
So the New Zealand dollar is part of the so-called majors or other major currencies, as part of the exclusive group of currencies that have the highest turnover in the forex market.
New Zealand is a state heavily dependent on international trade that made effective mainly with Australia, the United States, China, Japan and the European Union. While New Zealand is a developed country, its agricultural sector dominates the national economy.
The New Zealand economy is based on a model agricultural exporter. New Zealand is characterized by the export of wool, cattle, and has significant reserves of natural gas.
The ISO 4217 standard came to encode all the world’s currencies and the ISO code for the New Zealand dollar NZD, mention being made with the first two letters to New Zealand, and the last letter to his motto the New Zealand dollar .
Really simplified ISO 4217 transactions worldwide, by encoding the name of the coins simply three letters.
Several States referred to their respective currencies such as dollars, so we find that not only in New Zealand legal tender is called a dollar, but as is known in U.S. legal tender is the U.S. dollar, in Canada there Canadian dollar, and in Australia the legal currency is the Australian dollar.
Thus the ISO 4217 standard came to remove uncertainty in business transactions, because if we talk about we mention only the NZD New Zealand dollar and another currency, just imagine a two dealers in New Zealand and one in the U.S. and both agreed to pay one dollar of goods sold. Thus there are no more misunderstandings in the world trade.
We can find tickets in circulation NZ $ 5, 10, 20, 50 and NZ $ 100.
This article is supplied by PLANETAFOREX.COM
