<Tr> <Th> Source </Th> <Td> Reserve Bank of New Zealand, November 2016 </Td> </Tr> <Tr> <Th> Pegged by </Th> <Td> Cook Islands dollar, Niue dollar and Pitcairn Islands dollar (all at par) </Td> </Tr> <P> The New Zealand dollar (sign: $; code: NZD) (Māori: Tāra o Aotearoa) is the currency and legal tender of New Zealand, the Cook Islands, Niue, the Ross Dependency, Tokelau, and a British territory, the Pitcairn Islands . Within New Zealand, it is almost always abbreviated with the dollar sign ($), with "NZ $" sometimes used to distinguish it from other dollar - denominated currencies . In the context of currency trading, it is often informally called the "Kiwi", since New Zealand is commonly associated with the indigenous bird and the one - dollar coin depicts a kiwi . </P> <P> Introduced in 1967, the dollar is subdivided into 100 cents . Altogether there are ten denominations--five coins and five banknotes--with the smallest being the 10 - cent coin . Formerly there were lower denominations, but those were discontinued due to inflation and production costs . </P>

What kind of currency is used in new zealand